“We did it you sonsofbitches, we did it,” exclaimed user Sasquatchii in a fervent online discussion, capturing the sentiment of many collectors as Rolex officially discontinued its GMT Master II ‘Pepsi’ model after a 12-year run.
The discontinuation was confirmed when the model vanished from Rolex’s website during the spring refresh for the 2026 Watches and Wonders trade show in Geneva. This decision marks a significant moment in the luxury watch market, particularly for enthusiasts who have long revered the ‘Pepsi’ for its iconic blue and red Cerachrom bezels.
The ‘Pepsi’ model, which has roots dating back to 1954, was originally designed for Pan Am pilots to track multiple time zones. Its bold color combination became a hallmark, yet manufacturing challenges with the Cerachrom ceramic bezel reportedly led to quality control issues, prompting Rolex to take this step.
At the time of its discontinuation, the ‘Pepsi’ model was retailing for $11,800 in steel on an Oyster bracelet. Previously, it had been offered on a jubilee bracelet, priced at $12,000, and was known for its limited supply, which only heightened its desirability among collectors.
Rolex’s decision to retire the ‘Pepsi’ model is reminiscent of its earlier retirement from 2007 to 2014, after which it made a triumphant return in stainless steel. The watch variant was first introduced with a ceramic bezel in white gold in 2014, and its reappearance in 2018 on a jubilee bracelet further solidified its status.
With the model’s discontinuation, experts anticipate a spike in resale prices, with estimates suggesting that the secondary market could see prices soar to around $30,000. This trend reflects the enduring allure of the ‘Pepsi’ among collectors and enthusiasts alike.
As Rolex unveils its new releases for 2026 at Watches & Wonders, the absence of the ‘Pepsi’ will undoubtedly be felt. The watch’s legacy, however, is likely to continue, with many collectors holding onto their pieces as a testament to its storied history.
Details remain unconfirmed regarding any potential replacements or new models that may fill the void left by the ‘Pepsi.’ For now, the luxury watch community is left to ponder the implications of this significant change.