BY JOVAN K
The Rolex GMT‑Master II Pepsi has always been an iconic watch, the kind collectors dream about, but recently, the market has gone completely wild, because prices for both Oyster and Jubilee models, especially from 2025 and 2026, are reaching levels that would have seemed unthinkable just a few years ago.
Rumors that Rolex has quietly paused allocations of the steel Rolex GMT-Master II “Pepsi” (Ref. 126710BLRO) have circulated for months, and even without an official discontinuation announcement, ADs are seeing virtually no stock. Collectors are realizing that what was once considered reliably obtainable might now be vanishing faster than expected.
That scarcity has pushed the secondary market into overdrive. Oyster bracelet examples are already trading far above retail, which is sold for around $12,000, often in the $30,000 to $40,000+ USD range, depending on condition and completeness. Jubilee bracelet versions, however, are the ones everyone is chasing, and as a result, the dealers and sellers are pricing them higher, often in the $35,000 to $50,000+ USD for the most desirable 2025 and 2026 full set examples.
It’s not just about the numbers; the psychology is as fascinating as the prices themselves. Collectors fear missing out, which drives them to chase listings aggressively, and that chasing behavior pushes prices even higher. Rumors of discontinuation create a self-reinforcing loop: speculation makes people act fast, rapid buying pushes prices up, and higher prices make everyone think the watch must be almost impossible to get. Every new listing adds to the legend, and the Jubilee Pepsi has become the poster child for this phenomenon.
Part of the drama comes from anticipation of what Rolex might do next. Some collectors speculate the brand could refresh the Pepsi next month at Watches & Wonders Geneva 2026, with subtle tweaks or new configurations. Until that happens, the current Jubilee Pepsi models are like gold dust, and collectors watch every listing, and prices continue to climb.
The Pepsi models illustrate perfectly how scarcity, legacy, and hype drive the modern watch market. Oyster or Jubilee, these watches aren’t just timepieces—they’re events, cultural symbols, and markers of collector obsession, and now, the GMT‑Master II Pepsi proves that the market can turn an iconic watch into something that feels almost untouchable.
