Rolex Pepsi GMT-Master II 126710BLRO: Officially Discontinued (W&W 2026)
Watches & Wonders 2026
On April 14, 2026 — the morning Watches & Wonders opened in Geneva — the Rolex configurator changed. The steel GMT-Master II showed three remaining bezel combinations: grey-black, blue-black, green-black. No red. The product page for reference 126710BLRO returned a single line: This page is not available.
The Pepsi is out of production. Not as rumour, not as speculation — as catalogue fact. Its white gold sibling, the 126719BLRO, went with it. For the first time since Rolex entered the ceramic era, there is no steel GMT-Master II with a red bezel available from an authorised dealer.
The Quiet Disappearance That Preceded It
The end didn’t come as a surprise — only the timing did. By late summer 2025, Pepsi listings began vanishing from dealer websites across Europe and the US. In February 2026, a major industry publication confirmed what everyone suspected: Rolex had told dealers no further deliveries were coming.
By early March 2026, both the 126710BLRO and the white gold 126719BLRO had disappeared from most authorised channels. Rolex stayed silent. Dealers stayed silent. The market waited for Geneva — and Geneva delivered the answer.
Why This Watch Was Always Scarce
To understand the impact, you need to know why the Pepsi was never easy to find. The two-tone Cerachrom bezel — that deep blue against that cool red — is one of the most technically demanding components Rolex ever produced.
Combining two ceramic colours in a single ring requires precise sintering temperature, a homogeneous pigment mix, and a flatness tolerance that borders on the impossible. According to figures Rolex itself once disclosed, roughly half of the produced Pepsi bezels failed final inspection. Every rejected piece: waste.
That structural bottleneck carried through to distribution. For every three Batmans (blue-black) leaving the factory, only one Pepsi was allocated. And because the same two-tone bezel sits on gold and platinum versions too, steel Pepsis indirectly competed with their more expensive siblings for the same limited supply.
The scarcity was never marketing. It was material.
What Remains in Steel
The GMT-Master II hasn’t disappeared — only its most iconic face has. Here’s what still ships in steel:
| Bezel | Nickname | Reference |
|---|---|---|
| Blue & black (Oyster) | Batman | 126710BLNR |
| Blue & black (Jubilee) | Batgirl | 126710BLNR |
| Grey & black | Bruce Wayne | 126710GRNR |
| Green & black | Sprite | 126720VTNR |
What didn’t arrive: the Coke. A fully red-black bezel, long anticipated in forums and predictions, never materialised. Many collectors hoped the Pepsi would make way for its red sister. Rolex chose differently — and left the red side of the spectrum empty.
“For the first time since 2014, the steel GMT-Master II line has no red bezel at all. This is not a refresh. This is a break.”
The Pepsi Didn’t Disappear Alone
The 2026 catalogue shake-up went beyond one model. On the same day, the Submariner Date “Cookie Monster” — the 18K white gold Submariner 126619LB with blue ceramic bezel, known for its ostensibly playful nickname and very serious retail price — was also quietly pulled.
Two ceramic blue tones leave the collection in a single Watches & Wonders cycle. The message is clear: Rolex is recalibrating which colour statements survive — and which make way for newer forms.
What This Means for the Market
Within hours of the confirmation, bids on remaining Pepsi examples on the secondary market jumped by thousands of euros. That’s the predictable short-term effect. More important is what happens over the coming months.
Dealers still managing Pepsi waitlists now face an uncomfortable conversation. Clients who waited years for an allocation are being told the watch they wanted no longer exists as a current production model. Some will switch to the Batman or Bruce Wayne. Others will move to the grey market — where demand will only grow in the weeks ahead.
For those who already own a Pepsi: the watch hasn’t changed, but the context has. A produced, worn example is now a finite quantity. Historically, discontinuation of Rolex icons supports a slow but stable climb in value — not a hype-spike, but a new floor that establishes itself.
For Those Hunting One
The Pepsi hasn’t become unobtainable. It’s become more selective. Pre-owned examples in excellent condition circulate through specialist dealers and collectors — but no longer through the official AD channels where they were once hard enough to secure.
At XELOR we track availability of this reference closely. We watch which examples come to market, which papers are complete, which bezels still show their original sintering. If you’re looking for a Pepsi — now or in the coming months — we’d like to hear from you.
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Frequently Asked Questions
Is the Rolex Pepsi 126710BLRO officially discontinued?
Yes. Rolex confirmed the discontinuation on April 14, 2026, at the opening of Watches & Wonders in Geneva. The product page on rolex.com is offline and the GMT-Master II configurator no longer shows a red bezel in steel.
Does this also apply to the white gold version?
Yes. The 126719BLRO, the white gold variant with the same red-blue bezel, was discontinued at the same time.
Is a successor coming — the “Coke”?
No. Despite years of speculation, Rolex did not announce any red-black GMT-Master II at Watches & Wonders 2026. The steel line now consists of Batman, Batgirl, Bruce Wayne and Sprite.
What’s happening to prices on the secondary market?
Bids rose by thousands of euros within hours of the confirmation. Longer term, the expectation is a steady climb, in line with previously discontinued Rolex icons.
Which GMT-Master II is most available now?
The Batman (blue-black) remains the most produced steel variant. Bruce Wayne (grey-black) and Sprite (green-black) follow at a distance. All are still under lead-time pressure, but none are as scarce as the Pepsi was.
Is a Pepsi a wise purchase now?
It depends on your goal. As a collector’s piece or daily wearer: yes, the watch hasn’t changed. As pure investment: historically, discontinued icons appreciate — but timing and condition determine everything. Speak with an experienced dealer to find the Pepsi that fits you.
