Rolex Coke vs. Pepsi: Comparison & review [2026]

The Rolex GMT-Master II “Pepsi” (red and blue bezel) and “Coke” (red and black bezel) watches are two of the most iconic and debated models among collectors. The core difference is aesthetic: the Pepsi offers a vibrant, classic bi-color design that harks back to the original 1955 model, while the Coke presents a sportier, more modern feel with its aggressive red and black scheme. This choice also defines an era, as the Coke is a discontinued neo-vintage model with an aluminum bezel, whereas the modern Pepsi features a durable Cerachrom (ceramic) bezel and the latest movement.

Here's everything you need to know about these legendary Rolex pilot's watches to choose the right one for your collection.

Rolex GMT-Master II "Pepsi"

The Rolex "Pepsi" is the original GMT-Master bezel color combination, first released in 1955 for Pan Am pilots to track multiple time zones. Its signature red and blue bezel, representing daytime and nighttime hours, has become a true industry icon. Modern iterations, like the reference 126710BLRO, feature a scratch-resistant Cerachrom bezel and Rolex's new-generation Calibre 3285 movement, making it a perfect blend of rich heritage and cutting-edge technology.

• What it is: A dual-time zone pilot's watch from Rolex with a bi-color red and blue 24-hour bezel.
• Key features: GMT function, 40mm Oystersteel case, bidirectional rotatable 24-hour graduated Cerachrom bezel, 70-hour power reserve (modern versions), date window with Cyclops lens.
• Price: Retail is $10,900 (as of 2024), but market prices on the secondary market are typically $20,000 - $25,000+ due to extremely high demand.
• Materials/Construction: 904L Oystersteel, red and blue Cerachrom ceramic bezel. Available on both the classic sporty Oyster bracelet and the dressier five-link Jubilee bracelet.
• Sizing/Fit: A versatile 40mm case that fits a wide range of wrist sizes, with a comfortable and highly adjustable bracelet clasp.
• Pros: Historically significant and instantly recognizable design. Scratch-proof ceramic bezel retains its vibrant color permanently. Available with modern Rolex movement and technology. Flexible choice between sporty Oyster or elegant Jubilee bracelets.
• Cons: Extremely difficult to purchase at retail price, leading to long waitlists and high secondary market premiums. The bright colorway can feel less understated than the Coke. Its popularity makes it a more common sight among collectors.

This is the watch for collectors who want the most iconic GMT-Master, appreciate its deep history, and desire the durability and performance of modern Rolex technology.

Shop this style: bobswatches.com/rolex-126710blro

Rolex GMT-Master II "Coke"

Introduced in 1983, the Rolex "Coke" brought a sharp, contemporary edge to the GMT-Master line with its black and red bezel. This colorway was discontinued in 2007, making it a sought-after neo-vintage piece. All Coke models feature an aluminum bezel insert, which is less scratch-resistant than modern ceramic but beloved by collectors for the unique patina it develops over time. The "Coke" represents a specific era of Rolex craftsmanship before the switch to ceramic bezels and modernized cases.

• What it is: A discontinued, neo-vintage GMT-Master II with a distinctive red and black 24-hour aluminum bezel.
• Key features: GMT function, 40mm Oystersteel case with slimmer lugs (on ref. 16710), bidirectional rotatable 24-hour graduated aluminum bezel, date window with Cyclops lens.
• Price: Secondary market prices typically range from $12,000 - $18,000, depending on condition, year, and included accessories.
• Materials/Construction: 904L Oystersteel and an aluminum bezel insert. Primarily sold on the robust Oyster bracelet.
• Sizing/Fit: The classic 40mm case, but on popular references like the 16710, the lugs and crown guards are noticeably slimmer, offering a slightly more vintage-feeling fit compared to the modern "maxi" case.
• Pros: Discontinued status offers exclusivity and collector appeal. The red and black color scheme is often seen as more versatile and less flashy. Aluminum bezels fade and age beautifully, giving each watch a unique character. Often available at a lower price point than a modern ceramic Pepsi.
• Cons: Only available on the pre-owned market. The aluminum bezel is prone to scratching and fading (which can also be a pro for some). Lacks the 70-hour power reserve and technical upgrades of the modern movement. Bracelet feels less substantial than modern versions.

This is the perfect GMT for the enthusiast who values rarity, loves the character of vintage-style materials, and prefers a sportier, more understated look.

Shop this style: bobswatches.com/rolex-gmt-master-ii-16710

Rolex Pepsi vs. Coke Comparison

Bezel Material & Durability

This is the most significant technical difference. The modern Rolex Pepsi uses a Cerachrom (ceramic) bezel that is virtually scratch-proof and entirely fade-proof, ensuring the red and blue colors will look new forever. It is, however, susceptible to shattering upon severe impact.

In contrast, the Rolex Coke exclusively used an aluminum bezel insert. Aluminum scratches and dents much more easily. Over time and with sun exposure, the red portion tends to fade to a lighter shade, sometimes a beautiful fuchsia or pale cherry color. While technically less durable, this aging process, or "patina," is highly prized by collectors as it gives the watch a unique story and character.

Availability & Value

The modern Pepsi is a current-production model, but demand far outstrips supply, leading to multi-year waitlists at authorized dealers and sky-high prices on the secondary market. It is an extremely sought-after "hype" watch.

The Coke, being discontinued, is only available on the secondary market. Its value is driven by condition and rarity rather than pure hype. While prices have risen steadily, a clean example of a Coke can often be acquired for thousands less than a modern Pepsi, making it a compelling value proposition for a classic Rolex sports watch.

Aesthetics & Style

The choice here is purely subjective. The Pepsi's red and blue is the original, quintessential GMT look - it is bright, instantly recognizable, and associated with the "golden age" of aviation. The Jubilee bracelet option on the modern version lends it a dressier, almost jewel-like quality.

The Coke's red and black is sportier and more aggressive. The black half of the bezel allows it to pair easily with any outfit, arguably making it more versatile for daily wear. It's a more subdued, functional aesthetic that flies slightly more under the radar than its vibrant blue counterpart.

Which One Should You Choose?

Both watches are fantastic, but they appeal to different types of collectors for different reasons.

Choose the Rolex GMT-Master II "Pepsi" if:

• You want the peace of mind of a modern watch with a cutting-edge movement and warranty.
• You value durability and want a scratch-proof bezel that will never fade.
• You love the iconic, historical look of the original GMT-Master.
• You want the option of the dressier Jubilee bracelet.
• You are more concerned with current market status than vintage appeal.

Choose the Rolex GMT-Master II "Coke" if:

• You appreciate the charm, rarity, and unique character of discontinued, neo-vintage watches.
• You love the idea of an aluminum bezel that will age and develop its own patina.
• You prefer a sportier, more understated and versatile color combination.
• You seek a better relative value proposition on the secondary market.
• You want a GMT that stands out from the current models everyone is trying to get.

Frequently Asked Questions

What's the main difference between the Rolex Coke and Pepsi?

The primary difference is the color of the bezel: the Coke is red and black, while the Pepsi is red and blue. This also translates to a difference in materials, as modern Pepsi bezels are ceramic and all Coke bezels are aluminum.

Is the Rolex Coke discontinued?

Yes, Rolex stopped producing the Coke bezel for the GMT-Master II in 2007. It did not make the transition to a ceramic bezel and is only available on the pre-owned market.

Which is a better investment, Rolex Coke or Pepsi?

Both have been excellent investments. The current GMT-Master II Pepsi commands enormous premiums over its retail price. As a discontinued model, the Coke's value is also on a consistent upward trend, driven by rarity. Historically, the Pepsi has held a slight edge in popularity, but the Coke’s scarcity makes it a very solid collector’s piece.

What does the BLRO in 126710BLRO mean?

The letters on Rolex reference numbers are codes. BLRO stands for "Bleu/Rouge," which is French for Blue/Red, identifying it as a Pepsi bezel. A theoretical new ceramic Coke might be marked BLNR, for "Bleu/Noir," but the existing black and blue Rolex is nicknamed the Batman or Batgirl.

Can a modern Rolex Pepsi bracelet fit on an older Coke?

No, the cases, lugs, and end-links are engineered differently. The modern bracelets for the 6-digit reference models are not interchangeable with the bracelets from a 5-digit reference model like the 16710 Coke.

Which one is more popular?

The Pepsi is undoubtedly the more famous and historically significant of the two and remains more popular today, largely because it's the current model that aligns with the original from 1955. However, the Coke has a very strong cult following among serious collectors who appreciate its unique aesthetic and discontinued status.

Are there other Rolex GMT bezel nicknames?

Yes. Besides the Coke and Pepsi, there is the "Batman" (black and blue bezel on an Oyster bracelet), the "Batgirl" (black and blue on a Jubilee bracelet), and the "Root Beer" (black and brown or brown and two-tone gold bezel).

Why did Rolex stop making the Coke?

When Rolex introduced its scratch-proof ceramic "Cerachrom" bezels, it reportedly faced technical challenges producing a stable red and black bi-color combination. They successfully produced the all-black, blue-and-black (Batman), and eventually the blue-and-red (Pepsi) ceramic bezels, but the red-and-black was never brought into the modern lineup.