Is Rolex Quietly Discontinuing the Iconic Rolex Pepsi GMT-Master II? Rumors and Insights for 2026

The Rolex Pepsi GMT-Master II stands as one of the most iconic and coveted sports watches in modern horology. With its striking red-and-blue Cerachrom bezel—earning the affectionate nickname "Pepsi" from collectors—the stainless steel reference 126710BLRO has become a true grail for enthusiasts. Its dual-time functionality, robust Oyster case, and timeless design make it a go-to for travelers and watch lovers alike.

Few Rolex models generate as much passion and speculation as this one. But in early 2026, a persistent rumor has gained serious traction across forums, Instagram, and industry publications: Is Rolex quietly discontinuing the beloved Rolex Pepsi?

The whispers began circulating heavily in late 2025 and early 2026, fueled by reports from trusted sources like Wrist Enthusiast, Time+Tide, and WatchPro. Recent confirmations suggest that Rolex has informed authorized dealers (ADs) that no further deliveries of the steel GMT-Master II "Pepsi" (ref. 126710BLRO) will be made, with waiting lists being closed or redirected to other models.

The Buzz Around Rolex Pepsi Discontinuation

The speculation didn't start overnight. Since the steel Pepsi returned to the lineup in 2018, annual rumors of its impending end have surfaced—often tied to exaggerated claims about the difficulty of producing the two-tone ceramic bezel. But 2026 feels markedly different.

Key developments driving the current wave of discussion include:

• Multiple authorized dealer websites (such as those of major retailers in the US, Europe, and beyond) have quietly removed listings for both the steel 126710BLRO and white gold 126719BLRO Pepsi variants. Other GMT-Master II colorways—like "Batman," "Sprite," and "Bruce Wayne"—remain visible, making the absence of the red-blue models stand out.

• Reports from insiders and publications (including WatchPro's confirmation in late February 2026) indicate that Rolex has halted shipments to ADs. Buyers on waiting lists are reportedly being notified that the model is no longer available for allocation.

• Gray market and pre-owned prices have shown upward movement in recent weeks, with some asking prices climbing past key thresholds as supply concerns intensify. While secondary market trackers like Chrono24 showed only modest gains earlier, the momentum appears to be building ahead of major announcements.

Interestingly, the Rolex Pepsi models are still present on the official Rolex website (as of early March 2026), suggesting the brand may not yet want to make any discontinuation public. This mirrors past strategies where models fade from dealer channels before an official catalog update.

If you're actively hunting for a Rolex Pepsi GMT-Master II right now, explore our curated collection of available pieces here for current options in the market.

The rumor has legs this time—and with Watches and Wonders Geneva approaching on April 14, 2026, the watch world is watching closely for confirmation or a surprise twist. Could this mark the end of an era, or is a refreshed Pepsi (or even a long-awaited "Coke" return) on the horizon? Stay tuned as more details emerge.

Evidence from Dealers and the Market

The most compelling evidence fueling the Rolex Pepsi discontinuation rumors comes directly from authorized dealer (AD) channels. In recent weeks, multiple major Rolex retailers—both in the US and internationally—have removed the red-and-blue bezel variants (steel ref. 126710BLRO and white gold ref. 126719BLRO) from their online catalogs. Other popular GMT-Master II references, such as the "Batman" (black/blue), "Sprite" (black/green), and even the "Bruce Wayne" (black/blue on Oyster), remain listed and available for inquiry.

This selective disappearance is hard to ignore. For example, checking sites like Lux Bond & Green (as noted in earlier reports) shows the full GMT lineup minus the Pepsi models, with the standard disclaimer: "The watches displayed are from the official catalog and do not represent actual stock." Yet the pattern across dealers suggests more than just inventory rotation—it's a coordinated shift.

Why This Feels Different from Past Rumors

Rumors about the Rolex Pepsi ending have circulated almost annually since its 2018 steel reintroduction. Common theories pointed to production challenges with the two-tone Cerachrom bezel, but those claims have always felt overstated—smaller brands manage similar ceramic inserts without issue, and Rolex's manufacturing prowess is unmatched.

This time, however, the signals are stronger:

• Confirmed reports from sources like WatchPro (late February 2026) state that Rolex has explicitly told ADs no further Pepsi deliveries will occur, with waiting lists either closed or redirected.

• Gray market activity shows tightening supply, with asking prices on platforms like Chrono24 and dealer networks creeping upward (though not dramatically yet—secondary market trackers noted only modest 2-3% gains in early 2026 compared to prior periods).

• The official Rolex website still lists the ref. 126710BLRO (as of early March 2026), a classic Rolex move to avoid immediate public panic while phasing out quietly through dealer channels.

Historical Context and Comparisons

The Rolex Pepsi has a storied legacy dating back to the original GMT-Master models of the 1950s, designed for Pan Am pilots needing dual-time tracking. The modern steel Pepsi (126710BLRO) revived that red-blue aesthetic in 2018 with a ceramic bezel and Jubilee bracelet option, instantly becoming one of Rolex's most desired sports watches.

Past absences are part of its DNA—the Pepsi bezel vanished from steel catalogs between 2007 and 2018, building massive hype upon return. Today's situation echoes that pattern, but with higher stakes due to the watch's current cult status.

Parallels to Iconic Discontinuations

A direct comparison often cited is Patek Philippe's steel Nautilus ref. 5711, discontinued in 2021 amid overwhelming demand. That move created years of speculation, price surges in the secondary market, and no immediate replacement—leaving collectors chasing shadows.

What’s Next for Rolex Pepsi?

The watch community is now laser-focused on Watches and Wonders Geneva, opening April 14, 2026. Rolex typically unveils most annual updates there, often quietly dropping models from the catalog while introducing replacements or variants.

Possible scenarios include:

• A full discontinuation of the current Pepsi, potentially leading to a multi-year hiatus (similar to 2007–2018).

• An immediate successor—perhaps a refreshed steel Pepsi with minor tweaks (new dial, bracelet options) or a ceramic-dial upgrade inspired by recent "Sprite" changes.

• A surprise return of the red-black "Coke" GMT-Master II, discontinued since the early 2000s, to capitalize on pent-up demand for bold colorways.

• No direct replacement, allowing other GMT references (Batman, Sprite, etc.) to absorb demand while Rolex focuses elsewhere.

Whatever happens, Rolex Pepsi's popularity ensures it will remain a benchmark in the luxury watch world. The coming weeks will be telling—rumors will intensify, prices may shift, and announcements could reshape the market overnight.

Stay tuned, and if you're considering adding this icon to your collection before any potential changes, explore options now while the landscape evolves.