The Discontinued Rolex Pepsi GMT: What It's Actually Selling For
This past April at Watches & Wonders 2026, Rolex discontinued the steel Pepsi GMT-Master II, reference 126710BLRO. The Pepsi had spent years as one of the hardest Rolex sports watches to buy at retail and one of the brand's most recognizable models, and the discontinuation was being predicted well before Rolex made it official. Prices started climbing in February and March as the reference quietly came off some authorized dealer websites and the rumors spread. By the time the announcement came at the show, the run-up was already underway.
Where the Price Landed
Rubber Straps For Rolex GMT-Master II
For reference, the Pepsi last retailed for $11,800, and since its 2018 release, the pricing floor has never dipped below $17,000 or so. The asking prices have been detached from reality since the historical highs of 2022.
eBay screenshot from early March of 2026
By the start of March 2026, more than a month before Watches & Wonders, sellers were already listing Pepsi GMTs between $45,000 and $52,000, and the boldest asks still sit in the $30,000s today. None of those numbers were ever grounded in real sales.
The actual market moved far less, and WatchCharts and Chrono24 agree on the shape of it. In late 2025, a pre-owned steel Pepsi traded around $20,000, just below on WatchCharts and closer to $21,000 on Chrono24, which tends to read a little high. The discontinuation pushed those figures up, but not by much. They peaked in the weeks after the April announcement, with WatchCharts topping out near $24,000 and Chrono24 near $26,000. FOMO led real people to pay premiums — there's no doubt about that.
Rolex 'Pepsi' GMT with Everest Leather Watch Pouch
The average price has since eased back. WatchCharts now puts the market value around $21,655, close to where it sat before any of this started, while Chrono24's most recent reading sits near $25,900, still running higher as it usually does (we’ll see where it sits on June 30th). Either way, the discontinuation tax turned out smaller than the asking prices suggested, and still continue to today.
eBay screenshot from June 27th, 2026
We recently spoke with prominent Rolex dealer Jacek Kozubek (full interview coming soon) who saw it firsthand. He had sold three Pepsis in the two weeks following Watches & Wonders 2026, all under $25,000. He explained that the rumored discontinuation pushed sellers to ask in the high $20,000s, but the buyers at that level never showed up. He listed one high, came back down, and sold examples around $24,500 and $23,500. The sale prices never reached the $30,000s, no matter what the listings said.
Final Thoughts
The Pepsi still sells well above retail and above the mechanically identical GMT-Master II references in other bezel colors, but enough of them are in the market to keep the high asks from sticking. Discontinuation stirs the pot and moves prices, but it does not override supply. Rolex produced the 126710BLRO for eight years, and at the end of the day, that volume is keeping a ceiling on how far it can run.