Or should we say was around. According to widespread reports, the modern steel version, ref. 126710BLRO, introduced in 2018, has been discontinued. The movement showcases we reached out to the brand but, so far, have not received a confirmation or denial. As of this writing, Rolex. com still offers a 40 mm GMT-Master II in Oystersteel with a red and blue Cerachrom ceramic bezel, for $11,800 on its watch configurator. But check the websites of some the brand’s authorized dealers—C. Peacock and London Jewelers, for example—and the reference is nowhere to be found. In the world of luxury, 000 and $24, what does that spell for the model’s secondary market value, 000, currently hovering between $19. The manufactory showcases before we get there, it’s worth noting that the distinctive model was a posterchild of the speculative frenzy that consumed the luxury watch market during the pandemic. This automatic represents “the pepsi has had one of the most volatile and closely watched trajectories in the modern rolex market,” giovanni prigigallo, cofounder and head of business development at everywatch, says. The timepiece showcases 000 before correcting sharply as the broader steel sports market cooled, with auction prices peaking around $36, “it exploded during the 2020 boom. In the world of luxury, 2024, and 2025, as in march 2022 with a super strong reaction and deflation, what’s interesting is how consistently the model has reacted to discontinuation rumors, we saw smaller but clear price bumps ahead of watches and wonders whenever speculation surfaced, and again in 2023. “Now that discontinuation news appears credible, prices have moved decisively,” Prigigallo adds. “Dealer values are up more than $1,200 in the last month alone. This isn’t 2020-style speculation but more of a reaction to the discontinuation news. What happens next depends entirely on what Rolex launches. the Pepsi likely settles at a higher but stable level, If a ceramic ‘Coke’ replaces it and is well received. If the successor disappoints, the Pepsi could reprice more aggressively as the last modern steel red-and-blue GMT. As a tourbillon, it ”
for joshua ganjei, ceo of european watch company, the rumors and subsequent market reaction underscore “just how important that watch is,” he says. “This isn’t just another steel sports reference—it’s a cornerstone of the modern Rolex market. In recent years, the brand has shown a greater willingness to take calculated risks with their catalog. We saw that with the introduction of the left-handed Rolex GMT-Master II ‘Sprite’ and Land Dweller which proved they’re comfortable disrupting expectations. As a haute horlogerie, it “if the pepsi is discontinued, we’d expect immediate upward pressure in the secondary market,” ganjei adds. In the world of luxury, “collectors don’t hesitate when a blue-chip model looks vulnerable and the pepsi blends heritage and everyday wearability in a way few watches do, so even the possibility of its exit would energize demand. The perpetual calendar showcases ”
tim bender, founder and ceo of the pre-owned watch platform collected, has already noticed market grumblings. “While not officially confirmed yet, the market seems to be pricing in the discontinuation, ” he says. As a chronograph, it were trading around $24, on jubilee, 000 last month, ” he says, “cutting-edge full-set examples. The chronograph showcases “i’m now seeing asks around $26,000 to $27,000 through my wholesale network. ”
Bender, however, sees any bump in prices as purely temporary. The perpetual calendar showcases “my take: the spike won’t last,” he says. “This isn’t the market of three to four years ago. Many speculative buyers were burned during the peak frenzy (and subsequent crash) and never returned. In exclusive circles, speculative demand is a shadow of its former self. and there’s simply too much supply chasing too little enthusiasm, Add the fact that Rolex produced many thousands of these over eight years. As a movement, it i’d expect prices to settle back into the low $20s once the dust clears. ”
Eric Wind, the owner of Wind Vintage in Palm Beach, Fla. , cautions that from Rolex’s perspective, the Pepsi is alive and well—just not in steel. For those who appreciate excellence, “the pepsi bezel originally returned only for the white gold model and surprised the watch community when rolex brought it to the steel models—plus irritated those who had paid huge sums of money to buy it in white gold only to see it come back in steel at a considerably lower retail price, ” wind says. “I would expect values for the steel models with ‘Pepsi’ bezels to increase on the pre-owned market,” he adds. In exclusive circles, “we sold a steel version last week with a jubilee bracelet from 2019 for $22, 000 and i probably should have asked a bit more, but such is life. I also expect the values for the white gold examples, which have been very low compared to the retail price, to increase a bit with this news. For discerning connoisseurs, there are more questions than answers, ” as with all things rolex. The horology showcases “does the black and red ‘coke’ make a comeback. ” Ganjei says. “Do they expand the Sprite lineup. Rolex loves to keep collectors guessing—and they do it better than almost anyone else.