The Ultimate Guide: Did Rolex Discontinue the Pepsi GMT? (2025 Update)

**Topic Map (Table of Contents)**
1. The Short Answer: What Really Happened?
2. Understanding the Reference Numbers: 16710 vs. 126710
3. The Cerachrom Bezel Revolution
4. The Oyster vs. Jubilee Bracelet Controversy
5. The "Pepsi" Color Fade & Manufacturing Challenges
6. Market Impact: Prices, Scarcity, and Investment Potential
7. How to Spot a Genuine Current Production Pepsi GMT
8. Alternatives if You Missed the Pre-2020 Models
9. Frequently Asked Questions
10. Internal Link Opportunities for Deeper Reading
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**1. The Short Answer: What Really Happened?**
No, Rolex did not discontinue the "Pepsi" GMT-Master II. However, **significant production changes and a temporary halt in supply** between 2018 and 2020 created widespread confusion. Rolex discontinued the previous generation (ref. 16710) in 2007, then replaced it with the ceramic-bezel version (ref. 126710) in 2018. Since then, the model has remained in the catalog, but supply has been notoriously limited. The confusion stems from Rolex’s quiet discontinuation of the **steel-and-white gold "Pepsi" (ref. 126719BLRO)** in 2023, while the all-steel version (ref. 126710BLRO) continues production. The key takeaway: **the steel Pepsi GMT is alive, but extremely hard to buy new.**
**2. Understanding the Reference Numbers: 16710 vs. 126710**
To grasp the "discontinued" myth, you must understand Rolex’s reference system:
– **Ref. 16710 (1989–2007):** The classic "Pepsi" with an aluminum bezel insert. **Officially discontinued in 2007**, replaced by the "Coke" (black/red) and later all-black bezel models.
– **Ref. 116710 (2007–2018):** The first Cerachrom bezel GMT, but only in black and blue (“Batman”). **No Pepsi was produced** for 11 years, fueling the rumor that Rolex had abandoned the red-blue colorway.
– **Ref. 126710BLRO (2018–present):** The modern ceramic "Pepsi." **Still in production** but allocated in extremely small numbers to authorized dealers. This is the model most people ask about.
**3. The Cerachrom Bezel Revolution**
The long delay (2007–2018) in producing a ceramic Pepsi bezel was not a decision to discontinue, but a **technological hurdle**. Rolex’s proprietary Cerachrom bezel is made by fusing zirconium dioxide and stains at extreme temperatures. Producing a two-color red-and-blue ceramic bezel in one piece proved extraordinarily difficult—the red dye tends to fade or shift during firing. Rolex spent a decade perfecting the chemistry. The eventual success (and ongoing scarcity) means the bezel is still a **low-yield, high-cost component**, which artificially limits supply. This is often misinterpreted as a “soft discontinuation.”
**4. The Oyster vs. Jubilee Bracelet Controversy**
When the new Pepsi ref. 126710BLRO launched in 2018, it came exclusively on a **Jubilee bracelet**, frustrating collectors who preferred the sportier Oyster. Many assumed Rolex had discontinued the Oyster option permanently. In **2022, Rolex introduced a second version (ref. 126710BLRO-0002) on an Oyster bracelet** with an oysterlock clasp. Both bracelets are currently in production. This move confirmed that Rolex listens to demand, but the Oyster version is even harder to find, adding to the perception of scarcity.
**5. The "Pepsi" Color Fade & Manufacturing Challenges**
Another source of confusion: some early ceramic Pepsi bezels (2018–2020) exhibited a **slight purple or pink tint** in the blue half, especially under certain lighting. Rolex quietly revised the manufacturing process by **2021**, producing a deeper, more accurate navy blue. This led some to believe the “pink Pepsi” was a limited-release or discontinued variant. In reality, Rolex simply refined the color to match the classic aluminum insert. The current production (2025) has a near-perfect red-and-blue split, but the early “faded” versions are now sought-after by collectors.
**6. Market Impact: Prices, Scarcity, and Investment Potential**
– **Retail Price (2025):** Approximately $10,800 USD for steel on Jubilee; $11,100 on Oyster.
– **Secondary Market:** Prices hover between **$18,000 and $25,000** for unworn examples, depending on year and bracelet. Pre-owned examples (ref. 16710) cost $12,000–$16,000.
– **Why the premium?** Rolex does not discontinue the model, but **annual production is estimated at under 5,000 units globally**. This is intentional scarcity to maintain exclusivity, not a phase-out.
– **Investment Outlook:** The steel Pepsi is considered a “safe” investment. If Rolex ever does discontinue it (unlikely in the next 5 years), prices would spike 30–50% overnight.
**7. How to Spot a Genuine Current Production Pepsi GMT**
– **Bezel Color:** The current (2025) ceramic bezel has a **bright, saturated red** on the top half and a **deep, non-pink blue** on the bottom. Avoid examples with a purple hue—those are early-run (2018–2020) or possibly counterfeit.
– **Crown Guards:** Should be sharp and angled, not rounded.
– **Laser Etched Crown:** At 6 o’clock on the crystal, visible only under magnification.
– **Serial Number:** Engraved on the rehaut (inner ring) and between the lugs. Current models have serials starting with “M” or “Y.”
– **Movement:** Caliber 3285, with a 70-hour power reserve. Genuine movements have a smooth, bi-directional winding rotor.
**8. Alternatives if You Missed the Pre-2020 Models**
If you cannot find a steel Pepsi at retail, consider:
– **Tudor Black Bay GMT (Pepsi variant):** Approx. $4,000, with a similar red-blue bezel, but in a more affordable, heritage-style case.
– **Grand Seiko SBGM221:** A cream-dial GMT with a 24-hour bezel, under $5,000.
– **Omega Seamaster Planet Ocean GMT:** Larger, more robust, with a ceramic bezel and helium escape valve.
– **Rolex GMT-Master II "Batman" (ref. 126710BLNR):** Same watch, blue-and-black bezel, slightly easier to find.
– **Vintage Rolex Pepsi (ref. 16710):** Aluminum bezel, smaller case, more patina. Authenticity verification is critical.
**9. Frequently Asked Questions**
**Q: Did Rolex ever officially announce a discontinuation of the Pepsi GMT?**
A: No. Rolex never made such an announcement. The confusion arose from the 11-year gap (2007–2018) and the 2023 discontinuation of the white gold version.
**Q: Is the Pepsi GMT made of steel or gold?**
A: The current popular model (ref. 126710BLRO) is **904L stainless steel**. The now-discontinued white gold version (ref. 126719BLRO) was $40,000+.
**Q: Can I walk into a Rolex AD and buy a Pepsi today?**
A: Very unlikely. Most authorized dealers have **waitlists of 3–5 years** or require purchase history with other models. Some dealers sell only to VIP clients.
**Q: Why is the Pepsi so hard to find if it’s not discontinued?**
A: Limited manufacturing capacity (due to the bezel), high demand from collectors and flippers, and Rolex’s deliberate distribution strategy to maintain scarcity.
**10. Internal Link Opportunities for Deeper Reading**
– [The Complete History of the Rolex GMT-Master Pepsi Bezel] → (link to /rolex-gmt-master-history)
– [Rolex Cerachrom Bezel: How It’s Made and Why It’s Rare] → (link to /cerachrom-bezel-manufacturing)
– [Buying Guide: How to Get a Rolex from an Authorized Dealer] → (link to /rolex-ad-strategies)
– [Investment Watch Index: The Top 5 Rolex Models to Buy in 2025] → (link to /rolex-investment-guide)
– [Counterfeit Spotting: 7 Signs Your Rolex Pepsi May Be Fake] → (link to /fake-rolex-gmt-detection)
– [Jubilee vs. Oyster Bracelet: Which is Better for the GMT?] → (link to /rolex-bracelet-comparison)
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**Conclusion**
The steel "Pepsi" GMT-Master