Rolex's 'pepsi' gmt-master ii sees prices soar amid speculation

A rare and coveted Rolex model has seen a notable price surge in the secondary market, as collectors speculate about the possible end of its production. The Rolex GMT-Master II 'Pepsi' steel model with red and blue bezel, affectionately dubbed 'Pepsi', has experienced a sharp increase in value, just before the annual Watches and Wonders event in Geneva.

Gmt-master ii 'pepsi' prices soar 500% in march

According to Chrono24, a leading online platform for luxury watch sales, the model's price has increased by around $3,000 since the start of the year, with demand skyrocketing by over 500% in early March compared to the 2025 average. The scarcity, fueled by rumors that Rolex will discontinue the Pepsi model, has led to a frenzy of buying, with active listings decreasing by a quarter.

As Balazs Ferenczi, Chrono24's brand participation director, noted, 'it seems sellers are holding inventory, anticipating price increases.' This speculative demand is not limited to the Pepsi model, with its predecessor, the GMT-Master II 'Coke', also seeing a surge in popularity and price.

The 'Coke' model, officially discontinued in 2007, has continued to be sought after in the secondary market. Chrono24 reports a doubling of purchase requests for the model in early March compared to the 2025 average. Rolex's decision to end production of the Pepsi model has sparked intense interest, with collectors and investors eager to snap up the last remaining pieces before they disappear from the market.