The Rolex "Pepsi" - 126710BLRO
- Roy @ Caliber
- 1 day ago
- 4 min read
Few watches generate as much anticipation every year as the Rolex GMT‑Master II 126710BLRO — better known among collectors as the “Pepsi.” For simplicity sake, it shall be used for the entirety of this post. Thirsty already? Read on...
With Watches and Wonders at the time of writing, taking place in slightly over a month's time in Geneva, the pinnacle of watch events, watch forum discussions and collectors alike will all start asking the same question:
Will the Pepsi finally be discontinued this year?
Unfortunately for me, I cannot attend this year's edition of Watches and Wonders, but I have set myself a personal goal, that in 1-2 years time, I will make a trip down to Geneva.
Rumours circulate annually, with each year's getting incredible convincing that the Pepsi will be discontinued. Supply remains tight (it's Rolex after all right?), and speculation runs wild. Yet the Pepsi continues to endure as one of the most desirable sports models from Rolex, and I would certainly ranked it the most desirable amongst the GMT models. To really understand why, we need to look at what makes the Pepsi GMT so "special"—from its origins to the engineering challenges behind that famous bezel.
So why it is called the "Pepsi"? The nickname comes from the red and blue 24-hour bezel, which resembles the colours of the soft drink brand. This design traces back to the original Rolex GMT‑Master ref. 6542 introduced in 1955 when watch was developed in collaboration with Pan American World Airways to help pilots track multiple time zones during long-haul flights.
So it's sheer coincidence how it got its nickname but the two-tone bezel wasn’t just aesthetic - with red representing daytime hours and blue, night time hours. This simple visual cue made it easy for pilots to distinguish time zones at a glance. As time goes by, the colour scheme became synonymous with the GMT-Master line and eventually earned its nickname among collectors.
Why the Pepsi Bezel Is So Difficult to Produce?
One of the reasons the modern Pepsi GMT is so fascinating lies in this Cerachrom bezel, which is far more complicated to manufacture than it appears.
Unlike earlier aluminum bezels, modern Rolex GMT-Master II models use high-tech ceramic inserts that are extremely scratch-resistant and fade-proof. However, creating two colours in a single ceramic bezel is exceptionally challenging. Then shouldn't all the other Rolex GMT Master-II timepieces be as difficult to produce, why only the Pepsi is "called out"?
Producing the red colour in ceramic is especially difficult because stable red pigments are extremely hard to achieve at such high temperatures. Some reports even suggest that only a small percentage of bezels produced meet Rolex’s quality standards, which perhaps may be the best explanation to the watch’s limited availability.
The Return of the Steel Pepsi
For many years, the modern ceramic Pepsi was only available in white gold, introduced in 2014. It wasn’t until 2018 that Rolex released the stainless steel Pepsi again, now under the reference: Rolex GMT‑Master II 126710BLRO (thankfully or else it may just priced itself out of my budget!)
The steel version arrived on a Jubilee bracelet, a surprising move that gave the watch a slightly more refined look compared to the traditional Oyster bracelet. I also intentionally picked the Jubilee bracelet to give the Pepsi a "fizzy" look, well it is a Pepsi, right? Demand surged almost overnight, to nobody surprise.
Technical Specifications
Today, The Rolex Pepsi is powered by the in-house Caliber 3285 movement. Some already known specifications include:
Case diameter: 40mm (a maximum size I limit myself to, for Rolex watches due to my small wrist size)
Movement: 3285 manufacture Rolex
Precision: -2/+2 sec/day, after casing
Power reserve: approximately 70 hours
Functions: centre hour, minute and seconds hands, 24-hour display, second time zone with independent rapid-setting of the hour hand, date
Water resistance: 100 meters
Bezel: bidirectional rotatable 24-hour graduated bezel, red and blue Cerachrom insert in ceramic, moulded numerals and graduations
The movement also incorporates Rolex technologies such as:
Paraflex shock absorbers
Chronergy escapement
The Aesthetic Appeal
Technical aside, what visual charisma does it possess to make it more highly sought after compared to the other Rolex GMT Master-II models in this range?
Personally, the aesthetics such as:
The red GMT hand, which ties into the bezel colour.
The contrast between the glossy ceramic bezel and matte dial.
The way the colours shift when lighting direction changes.
Finally, the hype and news surrounding the piece. Maybe this doesn't sound too watch-collector language but that's just my personal opinion.
Every year, rumours of discontinuation add even more intrigue. Whether or not Rolex ever retires the Pepsi, one thing remains clear:
It is possibly one of the most iconic sports watches ever produced in the GMT Master line-up.
Finally, what makes the Pepsi even more special is the way watches like these connect generations. Last year, I visited the Rolex GMT-Master Exhibition: Time Zone to Time Zone organised by Cortina Watch, where the history of the GMT-Master line was beautifully presented through vintage pieces, historical references, and modern models. I brought my son along with me, hoping to spark his curiosity about watches from a young age. Watching him look at the colourful bezels and listening as I tried to explain how the GMT hand tracks another time zone, was just my wishful thinking. Hahaha! Nevertheless it was still a great father-son day out!
In fact, PMT The Hour Glass is also hosting the same exhibition will be hosted in Bangkok, Thailand, from 6-22 March 2026, located at Fashion Hall - Level 1 at Siam Paragon.
