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Rumors of the discontinuation of the GMT-Master II “Pepsi” have ignited the second-hand market, causing prices to surge.
01
Apr
Apr
The classic stainless steel GMT-Master II “Pepsi” (with a red and blue ceramic bezel) from the renowned Swiss watch brand Rolex has recently sparked a surge in the second-hand market. Rumors have emerged that this model is set to be discontinued, leading to a significant increase in its second-hand prices and a notable surge in purchasing demand.
The rumors of the discontinuation of the Rolex “Pepsi/Coke” are the main reason behind this trend.
According to several overseas watch media outlets and industry sources, Rolex has notified some overseas authorized dealers (ADs) to stop supplying the stainless steel “Pepsi” (model Ref. 126710BLRO) and has suggested that customers on waiting lists consider purchasing other models. Some dealers’ websites have even removed information related to this model. Although Rolex has not officially confirmed the discontinuation, this rumor has quickly spread within the watch community, becoming a key factor driving market changes.
Prices in the second-hand market are soaring
Since the beginning of this year, the second-hand price of the “Pepsi” has increased by approximately 14%. In the past three months, prices have risen by about HKD 23,000, with the current market value around HKD 183,000 (approximately USD 23,400). Some second-hand platforms are seeing transaction prices approaching or exceeding USD 30,000, far above the official retail price.
At the same time, the active supply on the market has decreased by about 25%, with many sellers choosing to hold onto their stock, waiting for further appreciation.
Demand has surged by 500%.
Data from the globally renowned second-hand watch trading platform Chrono24 shows that in early March this year, the purchasing demand for the “Pepsi” increased by over 500% compared to the average level in 2025. This severe imbalance between supply and demand has further pushed up the market premium for this watch.
Ripple effect: Increased demand for the previous generation “Coke” model.
The rumors of the discontinuation of the “Pepsi” have also driven up interest in the previous generation GMT-Master II “Coke” (in red and black). Although the “Coke” was officially discontinued in 2007, its popularity in the second-hand market has clearly rebounded, with purchasing demand reaching about twice the average level of 2025. Collectors are increasingly turning to seek models that feature similar classic ceramic bezel elements, making the entire GMT-Master series more active in trading.
Future Outlook: The Geneva Watch Fair in April as a Focus
The annual event in the watch industry, “Watches and Wonders,” will be held in Geneva in April. Whether Rolex will officially announce the fate of the “Pepsi,” introduce a new successor model, or make adjustments to the GMT-Master II series will be a major focus of market attention. This announcement is expected to directly impact the price trends and long-term collectible value in the second-hand market.
In summary, the Rolex GMT-Master II “Pepsi” has been beloved by watch enthusiasts since its launch, thanks to its distinctive red and blue ceramic bezel and practical GMT function. The rumors of its discontinuation not only highlight its classic status in the market but also reaffirm the strong influence of scarcity and expectation on the second-hand market for high-end watches. Collectors or investors interested in acquiring this model are advised to closely monitor the latest official updates and market changes.
