Rolex has officially discontinued the GMT Master II ‘Pepsi’ watch model after a 12-year run, a decision confirmed when the model vanished from Rolex’s website during the spring refresh for the 2026 Watches and Wonders trade show in Geneva.

The ‘Pepsi’ model, renowned for its striking blue and red Cerachrom bezels, has been a staple in the luxury watch market. However, the bold color combination was reportedly difficult to manufacture, leading to quality control issues that may have influenced Rolex’s decision.

At the time of its discontinuation, the ‘Pepsi’ model was retailing for $11,800 in steel on an Oyster bracelet, while a variant on a Jubilee bracelet was priced at $12,000. The watch’s limited supply has contributed to its popularity and desirability among collectors.

The GMT Master II ‘Pepsi’ has a storied history, with its earliest versions dating back to 1954, originally designed for Pan Am pilots to track multiple time zones. The model was previously retired from Rolex’s catalog from 2007 to 2014 before making a comeback.

Rolex introduced the first ceramic-bezeled white gold GMT-Master II in 2014, and the ‘Pepsi’ model became available in stainless steel in 2018, although only on a Jubilee bracelet. This limited availability has made the watch a coveted item in the secondary market.

Following the announcement of its discontinuation, experts predict a spike in resale prices, with estimates suggesting that the approximate secondary market price could reach around $30,000.

Rolex’s new releases for 2026 were unveiled at the Watches & Wonders event, marking a significant moment for the brand and its enthusiasts.

As the luxury watch community processes this change, the future of the ‘Pepsi’ model remains a topic of discussion among collectors and investors alike.

Details remain unconfirmed regarding any potential replacements or new models that may fill the void left by the ‘Pepsi’.

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