The blue and red bezel is the original GMT-Master color scheme. When Rolex built the first GMT-Master for Pan Am pilots in 1954, the bicolor 24-hour bezel separated daytime hours from night hours at a glance. Collectors later named it after the soft drink with the same colors, and the “Pepsi” has been the signature GMT ever since.
It is also one of the most sought-after Rolex watches in the world, which makes buying one pre-owned worth doing carefully.
Why is it called the Pepsi?
Rolex never used the name. The blue and red bezel reminded collectors of the Pepsi-Cola logo, and the nickname stuck in the 1980s and 1990s as vintage GMTs became collectible. Today everyone from auction houses to authorized dealers uses it informally. Rolex’s own reference suffix, BLRO, stands for bleu and rouge, blue and red in French. Our explainer on Rolex nicknames covers the whole family of watch nicknames.
Which Pepsi references should you know?
| Reference | Years | Material | Bezel | Notes |
|---|---|---|---|---|
| 6542 | 1954–1959 | Steel | Bakelite, then aluminum | The original GMT-Master |
| 1675 | about 1959–1980 | Steel | Aluminum | The classic vintage Pepsi |
| 16750 | about 1981–1988 | Steel | Aluminum | Transitional, quickset date |
| 16710 | about 1989–2007 | Steel | Aluminum | GMT-Master II, interchangeable inserts |
| 116719BLRO | 2014–2018 | White gold | Ceramic | First ceramic Pepsi |
| 126710BLRO | 2018– | Steel | Ceramic | Current steel Pepsi |
| 126719BLRO | 2018– | White gold | Ceramic | Blue or meteorite dial |
The current steel Pepsi: 126710BLRO
In 2018 Rolex introduced the 126710BLRO, a steel Pepsi with a two-color ceramic bezel, the calibre 3285 with about 70 hours of power reserve, and a Jubilee bracelet. It was the first steel ceramic Pepsi, and demand has been intense ever since. In 2021 Rolex also offered it on an Oyster bracelet. Both versions are 40 mm, water resistant to 100 meters.
Making a two-color ceramic bezel is technically difficult, particularly red, which is why the first ceramic Pepsi appeared only in white gold in 2014. See every 126710BLRO we have in stock.
Should you buy a 16710 Pepsi instead?
The 16710 is the value route into a Pepsi. It has an aluminum bezel insert that softens and fades with age, a slimmer case with thinner lugs, and a lighter bracelet. It is the Pepsi many collectors grew up with. Because its bezel inserts are interchangeable, some 16710s are sold with Pepsi, Coke or black inserts; a Pepsi with its original, age-appropriate insert is worth more than one with a new replacement.
Late 16710s with the calibre 3186 and the rare “stick dial” variants carry premiums.
Jubilee or Oyster bracelet?
The 126710BLRO launched on the Jubilee, and many buyers think the five-link bracelet suits the watch’s vintage-inspired colors perfectly. The Oyster version, added in 2021, is sportier. The difference in price between them varies with demand. Choose the one you prefer on the wrist; see our guide to Rolex bracelets for how they differ in comfort and wear.
Steel or white gold?
The white gold Pepsis, the 116719BLRO and 126719BLRO, look similar to steel at a glance but are much heavier, and the 126719BLRO has been offered with blue and meteorite dials. Pre-owned, white gold Pepsis often trade closer to or below their original retail price than the steel model does relative to its retail price, so they can be interesting value for buyers who like the weight and exclusivity of precious metal.
What should you check on a pre-owned Pepsi?
- The bezel insert. Ceramic inserts should be free of chips and the red and blue sharply divided. Aluminum inserts should show fading consistent with the watch’s age.
- Bezel rotation. It should turn in both directions with 24 firm clicks.
- GMT function. Jump the local hour hand a full rotation both ways and check that the 24-hour hand stays on home time and the date changes at local midnight.
- Papers. A card that matches the serial adds confidence and value, especially on recent steel Pepsis.
- Bracelet stretch, particularly on Jubilee bracelets.
Our general GMT-Master II buying guide covers the rest of the checks.
How to spot a Pepsi that is not what it seems
Because the Pepsi is so desirable, it attracts more modification than most watches. Watch out for:
- Aftermarket bezel inserts on older 16710s and 1675s, sometimes fitted to turn a black or Coke GMT into a Pepsi. They are often brighter and more uniform than an original faded insert.
- Replacement dials and hands on vintage references, which change collector value significantly.
- Mismatched papers, where the card belongs to a different watch.
- Steel Pepsis with a price far below the market. The steel ceramic Pepsi is one of the most counterfeited watches in the world.
A seller should be able to tell you whether the insert, dial and hands are original to the watch. Our guide on how to tell if a Rolex is real explains the checks in detail.
What drives the price of a Pepsi?
In broad order of impact: the generation and bezel material, whether it is steel or gold, box and papers, the year on the card, the condition of the case and bezel, and the bracelet. Steel ceramic Pepsis with full sets and recent dates sit at the top of the steel GMT market. The live table below shows our current asking prices by reference, and every GMT we have is on the pre-owned GMT-Master II page.
Is the Pepsi worth the premium over other GMTs?
Consider how you dress, too. The red and blue bezel is bright and cheerful, and it works best with casual clothes and in summer; some owners find it too loud with a suit. The blue and black Batman or grey and black Bruce Wayne are more understated. That practical question often settles the choice better than price.
That depends on how much you love the colors. Functionally, a Pepsi is identical to a Batman or Bruce Wayne of the same generation. You pay extra for the most iconic GMT color scheme and its history. If you want the function with less premium, a black 116710LN or a Batman may be better value; if the red and blue is what you have always wanted, it is the one to buy.
Frequently asked questions
What does BLRO mean on a Rolex?
BLRO stands for bleu and rouge, French for blue and red. It is Rolex’s suffix for the Pepsi bezel color combination on references like the 126710BLRO.
Is the Pepsi still in production?
Yes. The steel 126710BLRO and the white gold 126719BLRO are current models, although demand for the steel version far exceeds what authorized dealers receive.
What is the difference between a Pepsi and a Coke GMT?
A Pepsi has a blue and red bezel; a Coke has a red and black bezel. The Coke appeared on references such as the GMT-Master II 16760 and 16710 and is not part of the current ceramic lineup.
Does the Pepsi bezel fade?
Ceramic Pepsi bezels are designed to resist fading. Aluminum inserts on older models such as the 16710 and 1675 fade with sun exposure over the years, which many collectors value when the fading is even and natural.
