Rolex ‘Pepsi’ GMT-Master II Prices Surge Amid Discontinuation Speculation
The iconic red-and-blue “Pepsi” version of the Rolex GMT-Master II is witnessing a sharp surge in secondary market prices ahead of the upcoming Watches and Wonders Geneva in April. Collectors and traders are increasingly speculating that the popular steel model may be discontinued, triggering a spike in demand. According to Chrono24, purchase requests for the Pepsi model jumped by over 500% in early March compared to the 2025 average.
Market data further reflects this growing frenzy. The Bloomberg Subdial Watch Index reported a price increase of roughly $3,000 for the Pepsi model since the beginning of the year, while listings on Chrono24 have declined by nearly 25%. Industry observers suggest that perceived scarcity—whether real or speculative—is significantly driving prices, with sellers holding back inventory or watches being quickly absorbed by eager buyers anticipating further appreciation.
The ripple effect is also boosting interest in older models like the “Coke” GMT-Master II, discontinued in 2007. Demand for the red-and-black bezel version has nearly doubled in recent weeks, highlighting how speculation around one model can influence the broader pre-owned luxury watch market. While some authorised dealers hint at halted deliveries of the Pepsi, Rolex has not officially confirmed any discontinuation, leaving collectors closely watching developments at the Geneva event.
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