Rolex Pepsi Jubilee vs. Oyster: What's the difference?

The choice between a Rolex “Pepsi” on a Jubilee or an Oyster bracelet is a debate between two of the brand’s most iconic styles, boiling down to one key difference: aesthetics and feel. The Jubilee offers a complex five-link design that presents as more refined and jewelry-like, while the Oyster’s classic three-link build reinforces the watch's rugged, tool-watch heritage.

Here's a detailed comparison to help you decide which GMT-Master II "Pepsi" configuration is right for you.

Rolex GMT-Master II "Pepsi" on a Jubilee Bracelet

Pairing the legendary blue and red "Pepsi" bezel with the refined Jubilee bracelet creates a modern classic that bridges the gap between a sport watch and a dress watch. Introduced in 1945 for the Datejust, a Jubilee bracelet on a professional model like the GMT-Master II offers a flashier, more decorative appeal than its Oyster counterpart.

• What it is: A Rolex GMT-Master II featuring the iconic bi-color red and blue ceramic bezel, paired with the dressier five-link Jubilee bracelet.
• Key features: Supple five-piece link design with polished center links, an elegant concealed Crownclasp for a seamless look, and full GMT functionality.
• Price: The retail price is set by Rolex, but on the secondary market, expect prices from $10,000 to $15,000+ depending on condition and demand.
• Materials/Construction: Crafted from corrosion-resistant 904L "Oystersteel" for both the case and bracelet, known for its exceptional finish and durability.
• Fit & Comfort: Considered by many to be one of the most comfortable bracelets ever made. Its smaller links articulate perfectly, allowing it to conform and drape beautifully around the wrist.
• Pros: Elegant and sophisticated appearance, exceptional all-day comfort, dress-sport versatility, intricate design that catches light beautifully.
• Cons: A less traditional "tool watch" look, some purists prefer the sportier Oyster on a GMT, visually less robust compared to the Oyster.

This configuration excels for the owner who values wrist comfort and wants a sport watch with a more refined, jewelry-like aesthetic suitable for any setting.

Shop this product: rolex.com/watches/gmt-master-ii

Rolex GMT-Master II "Pepsi" on an Oyster Bracelet

The Oyster bracelet is the original sport bracelet from Rolex, first introduced in the 1930s. When paired with the GMT-Master II "Pepsi," it creates a direct link to the model's history as a professional aviator's tool, emphasizing durability, simplicity, and a purposeful design.

• What it is: A Rolex GMT-Master II with the "Pepsi" bezel on the brand’s emblematic, robust three-link Oyster bracelet.
• Key features: Broad, flat three-piece links, brushed outer links with polished center links, secure Oysterlock safety clasp with the Easylink 5mm comfort extension link.
• Price: Similar retail price to the Jubilee version, with secondary market prices typically in the $10,000 to $15,000+ range.
• Materials/Construction: Built entirely from solid 904L "Oystersteel" to withstand demanding conditions while maintaining a pristine look.
• Fit & Comfort: Provides a secure and substantial feel on the wrist. While comfortable for daily wear, it feels more rigid and tool-like than the supple Jubilee.
• Pros: Classic tool-watch aesthetic, exceptionally rugged and durable, the Oysterlock clasp and Easylink extension provide superior security and on-the-fly adjustment.
• Cons: Generally considered less dressy than the Jubilee, the broad polished center links are prone to showing fine scratches, a less flexible fit on the wrist compared to its counterpart.

Choose this version for its classic, sporty appeal and unwavering connection to Rolex's tool-watch legacy.

Shop this product: rolex.com/watches/gmt-master-ii

"Pepsi" Jubilee vs. "Pepsi" Oyster Bracelet Comparison

Style & Aesthetic

The visual difference is immediate and defines the character of the watch. The Jubilee bracelet offers a more intricate look. Its five small links, with the central three polished, create dozens of facets that play with light in a dazzling, jewel-like way. This elevates the "Pepsi" from a functional sport piece to a sophisticated dress-sport hybrid.

In contrast, the Oyster bracelet has a muscular, purposeful appearance. Its three broad links feel more substantial and a continuation of the watch case itself. It’s the original formula for a Rolex sportswatch: rugged, clean, and built for purpose. While it also features polished center links, its overall look remains more understated and action-oriented.

Fit & Comfort

Both bracelets are incredibly comfortable, but they feel very different. The Jubilee's construction allows for more points of articulation. Because of this, it feels more like a fabric strap, draping over the wrist with a supple, lightweight feel that many enthusiasts swear by for all-day wear.

The Oyster feels solid, secure, and substantial. The larger links mean it's less flexible, creating a feeling of solid steel against your skin. The standout comfort feature for the Oyster is the Easylink 5mm comfort extension within the clasp, allowing you to easily adjust the fit throughout the day as your wrist expands or contracts.

Price & Value

At the authorized dealer level, Rolex offers both bracelet options on the steel GMT-Master II for the same retail price. Your choice is purely down to preference without a financial penalty.

On the secondary market, this can change. When the modern steel "Pepsi" was re-released exclusively on the Jubilee, demand for that configuration was extremely high, often commanding a premium over other models. Over time, prices between the two tend to settle, but market demand for one style can fluctuate, impacting its immediate resale value. Both, however, are known for excellent value retention over the long term.

Which One Should You Choose?

Both bracelet styles deliver Rolex’s exceptional quality, so the best choice depends entirely on your personal style and intended use.

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

• You want a watch that seamlessly transitions from the office to a formal event.
• Maximum wrist comfort from a supple, "draping" bracelet is your priority.
• You prefer a more elegant and decorative look that catches the light.
• You see your watch as both a tool and a piece of fine jewelry.

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

• You admire the classic, rugged aesthetic of a true Rolex tool watch.
• A solid, durable, and highly secure feel on the wrist matters most to you.
• You value the practicality of the Easylink extension for quick adjustments.
• You prefer an understated, classic look that honors the model's heritage.

Frequently Asked Questions

What's the main difference between a Rolex Pepsi Jubilee and Oyster?

The primary difference is the bracelet style. The Jubilee has an intricate five-piece link design that is generally seen as dressier and more detailed. The Oyster has a utilitarian three-piece link design that is seen as sportier and more robust.

Which bracelet is more comfortable, a Jubilee or Oyster?

This is subjective, but many people find the Jubilee more comfortable for its suppleness. Its smaller links allow it to conform more closely to the wrist. The Oyster is valued for its solid, secure feel and the highly practical Easylink extension system.

Is the Rolex Jubilee bracelet less durable than the Oyster?

No. While the Oyster bracelet looks more robust, both are constructed from the same tough 904L Oystersteel to meet Rolex's incredibly high durability standards. The difference is purely in design and aesthetic.

Do they have the same clasp?

No, and this is a key functional difference. The Jubilee on the GMT-Master II uses a concealed Crownclasp, which provides a seamless, elegant look. The Oyster features the Oysterlock safety clasp, designed to prevent accidental opening, and includes the Easylink 5mm comfort extension link.

Does a bracelet choice affect the price of a GMT-Master II "Pepsi"?

At an official Rolex boutique, both bracelet options for the same watch model carry the same retail price. However, on the pre-owned and grey markets, one version might command a higher premium based on current demand and availability.

Which bracelet shows scratches more?

Both models feature polished center links, which tend to show fine hairline scratches more easily than brushed surfaces. Some argue the Oyster's larger, flat polished links make scratches more visible, while others feel the Jubilee's busy pattern helps camouflage minor wear.

Can you get a GMT-Master II "Pepsi" with a fully brushed bracelet?

No, the current stainless steel models from Rolex, on both the Jubilee and Oyster bracelets, feature polished inner/center links for a more luxurious look.

What does "Pepsi" mean on a Rolex?

"Pepsi" is a nickname given by collectors to any Rolex model with a blue and red bi-color bezel insert. The nickname comes from the bezel's resemblance to the logo colors of the Pepsi corporation.