If you were hoping to walk into a store and buy a brand-new steel Rolex Pepsi, there’s bad news. After years of rumors and speculation, Rolex has officially discontinued the blue-and-red GMT-Master II. Both the stainless steel version (ref. 126710BLRO) and the white gold version (ref. 126719BLRO) are no longer available.
Let’s understand what happened, what it means for buyers, and why this feels like it has happened before.
Wait, Didn’t We Hear This Before?
Yes, we did. Rumors about the Pepsi being discontinued have been around for at least three years. When the news came up again earlier this year, many collectors didn’t believe it. But this time, it turned out to be true.
Even Bloomberg reported on it, and many retailers said the watch had become extremely hard to find—just like the famous Panda Daytona.
The final confirmation came during Rolex’s Watches and Wonders 2026 update. The Pepsi models quietly disappeared from the official website. Dealers like Bucherer, Fourtane, and Watches of Switzerland also removed them. Smaller shops didn’t even list them anymore. It was clear—the watch was gone.
A Quick History
The Pepsi design is not just popular—it’s iconic. It started in 1954 with the GMT-Master made for Pan Am pilots. The red and blue bezel helped track day and night time.
But this isn’t the first time Rolex stopped making it. From 2007 to 2014, there were no Pepsi models at all. Then in 2014, it came back in white gold. In 2018, Rolex released the steel version, but only with a Jubilee bracelet. By 2021, it was also available with an Oyster bracelet.
Now, after about 12 years, it has been discontinued again.
The Real Problem: The Bezel
The main reason for discontinuation is the bezel. Making a ceramic bezel that is half red and half blue is very difficult. It’s hard to produce without color issues.
In comparison, the black-and-blue “Batman” version is easier to make because black covers the blue underneath.
Also, the Pepsi bezel had consistency issues. Different versions had slightly different shades of red and blue. Even Rolex couldn’t keep the colors exactly the same every time.
Now, in steel models, Rolex only offers three bezel options:
- Batman/Batgirl (black and blue)
- Black and grey
- Sprite (green and black)
The Pepsi is no longer part of the lineup.
Prices Before and After
Here’s what the retail prices were before it was discontinued:
- Steel (Oyster bracelet): $11,800
- Steel (Jubilee bracelet): $12,000
- White gold (blue dial): $50,700
- White gold (meteorite dial): $53,100
On the resale market, white gold versions sell close to retail. But the steel models were already selling for much higher prices.
After the discontinuation news, prices jumped quickly. New pieces went above $30,000, with some reaching $35,000 or more. Even used watches are now selling for very high prices.
For comparison, an older Pepsi model (ref. 16710) now sells for $15,000–$20,000. The newer ceramic Pepsi (2018–2026) had a shorter production run, which may make it even more valuable in the future.
Another Model Discontinued
Rolex also discontinued another watch: the white gold “Cookie Monster” Submariner (ref. 126619LB). It had a blue bezel and black dial.
It was priced at $52,100 but was selling for around $35,000 in the resale market. This shows Rolex is making changes to its premium watch lineup.
What Should You Do Now?
If you already own a steel Pepsi, you’re in a great position—its value has increased a lot.
If you don’t own one, buying it now will be expensive. Your options are:
- Buy the white gold version (very expensive)
- Wait and hope Rolex brings it back in the future
- Choose other models like Batman, Sprite, or black/grey GMT
Final Thought
The Rolex Pepsi is now officially discontinued again. Because of its limited availability, it may become even more valuable over time.
In the world of Rolex, rarity is not a problem—it’s what makes the watch special.