The GMT-Master II 126710BLRO — known universally as the "Pepsi" for its blue and red ceramic bezel — was discontinued by Rolex in February 2026, with no replacement announced. The reference introduced in 2018 marked the return of the beloved Jubilee bracelet to the GMT-Master line after an absence of decades. Its discontinuation has shifted it into a different category: a collectible with a fixed and finite supply, subject to premium dynamics that no longer track production economics.
Four weekly snapshots — 7 Jun through 28 Jun 2026.
Grey market data runs: 7, 14, 21, and 28 June 2026. Source: Chrono24. Week-over-week comparison is now live — see the 7D Change above. 30-day, YTD, and 52-week history accumulates with further weekly scans.
The Rolex secondary market has a consistent historical pattern with discontinued references: premiums compress briefly at announcement as speculative holders exit, then recover and typically exceed pre-discontinuation levels within 12–24 months as the supply of unworn examples depletes. This pattern has been observed with the Submariner "Hulk" (116610LV), the GMT-Master II "Batman" first generation, and multiple Daytona variants. The Pepsi now enters this cycle.
The 126710BLRO is in a structurally stronger position than most discontinued references for three reasons. First, the Jubilee bracelet combination was unique to this reference — its successor will require Rolex to either continue the Jubilee GMT or introduce a meaningfully different alternative. Second, the blue/red colorway is the most recognisable GMT bezel combination in Rolex history, with over 60 years of cultural weight. Third, there is currently no replacement reference, meaning buyers seeking a new Jubilee GMT have no authorised dealer alternative.
"Discontinuation removes the ceiling. The question is no longer what Rolex charges for a Pepsi — because Rolex no longer sells one."
For collectors, the discontinuation creates a decision point: unworn full-set examples in mint condition will increasingly command a scarcity premium over circulated stock. Condition and completeness will matter more for this reference than for any other in the RRGI going forward.
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