【Rolex】GMT-Master II Pepsi Bezel Rumored to Be Discontinued Sparks Secondary Market Price Surge, Demand Soars 500%

One of the most popular watch models from the Swiss watch brand Rolex— the GMT-Master II “Pepsi” equipped with a red and blue bi-color bezel— has recently seen its prices in the secondary market soar, driven primarily by the rampant rumor that the “Pepsi” is about to be discontinued.

“Timepieces and Wonders” Watch Fair Ahead of “Pepsi” Second-Hand Explosion

In April this year, Geneva, Switzerland, is set to host the annual event “Watches and Wonders Geneva,” gathering over 60 brands and global collectors, with the most attention likely on the new watch models that Rolex is about to unveil.

As the watch fair approaches, speculation about the “Pepsi” being discontinued has intensified. According to data from the globally renowned second-hand watch trading platform Chrono24, demand has surged, with purchase demand for the “Pepsi” Rolex in the first week of March skyrocketing over 500% compared to the average level in 2025.

According to the Bloomberg Subdial Watch Index, which tracks the top 50 watch models by trading volume, the market price of the “Pepsi” Rolex has increased by approximately $3,000 since the beginning of the year, while the number of active listings in the market has decreased by about 25%.

Prices Surge, Supply Tightens: Market Sentiment Drives Pricing

As one of the most liquid and widely regarded benchmark watches from Rolex, the GMT-Master II “Pepsi” plays a crucial role in shaping the overall market sentiment. The sudden spike in demand coupled with a sharp reduction in supply indicates that current pricing is increasingly detached from regular retail dynamics, instead being driven by “anticipatory psychology regarding future supply shortages.”

Balazs Ferenczi, head of brand interactions at Chrono24, stated that sellers seem to be hoarding inventory in anticipation of price increases, or existing stock is being quickly absorbed by the market.

Additionally, according to authoritative watch media “WatchPro,” some authorized dealers have confirmed they have stopped supplying the “Pepsi” colorway watches. However, Rolex has currently declined to comment on these production discontinuation rumors.

Spillover Effect: Discontinued “Coke” Also in High Demand

The rumors surrounding the discontinuation of the “Pepsi” have not only driven up its price but also created a strong spillover effect, boosting the popularity of past classic models.

Among the most noteworthy is the GMT-Master II “Coke,” which features a red and black bezel and was officially discontinued by Rolex in 2007. Although this aluminum bezel watch has long been replaced by later ceramic bezel series and Rolex no longer produces new models, it remains highly sought after in the second-hand market.

According to Chrono24, there is a clear spillover effect observed for earlier model types, with the procurement demand for models like the “Coke” having reached approximately twice the average level for 2025 by early March.

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