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The Rolex Pepsi: The Key References
Discover the Rolex GMT Pepsim, its key references, design evolution, and why this iconic red-and-blue bezel watch remains highly collectible.
Few watches are as instantly recognizable as the Rolex GMT Pepsi, celebrated for its iconic red-and-blue bezel. Among Rolex enthusiasts, nicknames like “Pepsi” have become synonymous with the brand’s most iconic timepieces, alongside other famous models like the Rolex Daytona Panda. With over seven decades of history, the GMT Pepsi has evolved from a professional pilot’s tool into a cultural and horological icon.
History of the Rolex GMT Master
The Rolex GMT Master debuted in 1955 to address the challenges faced by commercial airline pilots. As international travel expanded in the 1950s, pilots needed a reliable way to track multiple time zones. Rolex responded to Pan American Airways’ request by adding a fourth 24-hour hand to the traditional hour, minute, and second hands. This innovation allowed pilots to simultaneously monitor both the departure city and destination time, revolutionizing aviation timekeeping.
Rolex had already built a reputation for durable, adventure-ready watches, with models that had endured Everest expeditions and long-distance swims. The GMT Master combined this rugged reliability with an elegant, functional design that made it equally appealing to frequent travelers. Quickly, the watch transcended its professional roots and became a symbol of jet-set sophistication, seen on the wrists of Pablo Picasso, Hunter S. Thompson, Che Guevara, and the 1964 Bond girl Pussy Galore.
The combination of utility, precision, and style established the GMT Master as one of Rolex’s most enduring and collectible models. Its instantly recognizable red-and-blue “Pepsi” bezel has remained a hallmark of the collection, representing both a practical tool and a design icon.
Key References of the Rolex GMT Pepsi
The Rolex Pepsi has evolved across decades, from vintage GMT Masters to modern GMT Master II editions. Sotheby’s specialists highlight five essential references for collectors:
Rolex GMT Master Pepsi Reference 6542
This Rolex GMT Master Pepsi 6542 was sold in November 2023 for 38,100 CHF. Produced between 1954 and 1959, this Rolex Pepsi watch was the original Rolex GMT Master model designed in collaboration with Pan American Airways for their pilots. It featured a 38mm stainless steel case and initially came with a fragile Bakelite bezel, which was later replaced by an aluminum version. A little known fact about the reference 6542 is that these watches were subject to a recall in the US. The Atomic Energy Commission stated that the levels of radiation from this watch were too high. This Rolex Pepsi watch has a brown leather strap honoring it's rugged and practical DNA.
Powered by the Caliber 1036 movement, the 6542 is distinguished by its gilt dial with radium lume and lack of crown guards, making it a highly collectible and historically significant timepiece.
Rolex GMT Master Reference 1675
This Rolex GMT Master Pepsi Reference 1675 was sold in for 11,400 USD. Introduced in 1959 and in production until 1980, it became one of the longest-running Rolex watch references. This Rolex Pepsi GMT watch came with a 40mm stainless steel case and was available in gold and bi-metal versions. It marked the introduction of crown guards and underwent various dial changes, transitioning from matte to glossy dials with white gold surrounds. Powered initially by the Caliber 1565 and later by the 1575 movement, the 1675 is a classic example of the Rolex brand's evolution in design and functionality. This Rolex Pepsi 1675 features some of the many changes and variations in the reference during its 21-year production run.
Rolex GMT Master II Reference 16710
This Rolex GMT Pepsi Master II 16710 was sold in June 2024 for 21,600 USD. Produced from 1989 to 2007, this Rolex Pepsi watch featured a 40mm stainless steel case and introduced the innovative independently adjustable 24-hour hand, allowing for the tracking of a third time zone. This Rolex GMT model was powered by the Caliber 3185 and later by the 3186 movement. It featured an aluminum bezel and a gloss dial with white gold surrounds and Super-LumiNova luminescence.
In recent years, the Rolex GMT Pepsi Reference 16710 has seen increased demand amongst collectors, with Sotheby's at the heart of collecting activity. Originally sold in Sotheby’s Summer 2024 Important Watches auction for $21,600, the above Khanjar Pepsi model was distinguished by its incredibly coveted Khanjar dignitary engraving on the case back and red-and-blue Rolex GMT Pepsi bezel.
Rolex GMT-Master II Reference 116719BLRO
This Rolex GMT Pepsi Reference 116719BLRO was sold in September 2023 for 35,560 EUR. Presented by Rolex in 2014, it made its debut one year after the Rolex GMT Batman and seven years after the first ceramic bezel Rolex GMT 116710LN. With this new model, Rolex resurrected the signature Rolex Pepsi bezel and offered it for the first time on a ceramic bezel crowning a maxi case. The new Rolex GMT Pepsi was only available in white gold, which commanded a serious premium compared to the stainless steel black bezel version. Furthermore, the 116719BLRO was the first white gold Rolex GMT watch made in series without precious stones.
This model featured a 40mm case and was powered by the Caliber 3186 movement, later updated to the 3187. The black dial with Chromalight luminescence and the advanced ceramic bezel technology enhanced both its aesthetic appeal and functionality, representing a significant evolution in the Rolex GMT Master line.
Rolex GMT Master II Reference 126710BLRO
This Rolex GMT Pepsi Reference 126710BLRO was sold in June 2024 for 21,600 USD. Its 2018 release marked the first instance of a Cerachrom ceramic red and blue Rolex Pepsi watch bezel being fitted to a stainless steel watch. Previously, the iconic bi-color ceramic insert was only available on precious metal versions of the Rolex GMT Master II.
The next-generation Caliber 3285 movement provides the ref. 126710BLRO with an increased 70 hour power reserve, while a refined case shape and Jubilee bracelet further differentiate it from Rolex’s other sports watches and make this timepiece a modern take on a true classic. The Rolex GMT Pepsi Reference 126710BLRO marked the long-awaited return of the model to the Rolex GMT-Master collection.
Collectibility and Market Trends
The Rolex GMT Pepsi remains a cornerstone of Rolex collecting. Vintage references, especially the 6542 and 1675, are prized for historical significance, unique dials, and rarity. Modern editions, including the 126710BLRO, blend heritage with state-of-the-art technology, attracting both new collectors and seasoned enthusiasts. Special editions, limited runs, and engraved models often command premiums, underscoring the Pepsi’s enduring desirability in the secondary market.
Why Choose a Rolex GMT Pepsi
Owning a Rolex GMT Pepsi is about more than just wearing a watch—it’s about embracing a piece of horological history and iconic design. The instantly recognizable red-and-blue bezel and signature GMT functionality make it a standout timepiece, while its aviation heritage connects it to decades of pilot and traveler innovation. From vintage references like the 6542 to modern stainless steel and white gold models, the Pepsi offers a range of options to suit collectors at every level. Its combination of style, technical excellence, and strong market demand ensures that the GMT Pepsi remains both a practical tool and a highly coveted collectible.
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