With the Release of Its Most Complex Movement, Rolex Shows Where It Competes

(Photo credit: Rolex)

When Rolex pulls back the curtain on its new releases each spring at Watches and Wonders, the dial tends to get most of the attention.

After all, it is the most visible change, from the Datejust’s ombré finishes to the Daytona’s enamel dial, the light-green aventurine dial of the Day-Date, and the colorful Oyster Perpetual. But just a year after introducing its Dynapulse escapement, a revolutionary innovation that moves away from the traditional Swiss lever system, Rolex has unveiled its most complex caliber yet, a reminder that the brand remains, at its core, a watchmaker.

“We could have rested on our laurels,” a Rolex representative told me, referring to the release of the brand’s newest caliber, Caliber 4162, now powering the new Yacht-Master II. It introduces a function unique to Rolex: a programmable countdown with mechanical memory that can be synchronized on the fly. In another first, the countdown minutes and seconds hands rotate counterclockwise, making it immediately clear that time is ticking down to zero. The countdown is now set using the lower pusher rather than the rotatable bezel and Ring Command system found on the prior model.

In an industry that often leans on nostalgia, Rolex’s recent releases are the latest sign it is still a leading innovator in mechanical movements, competing at the highest level in engineering.

Rolex Moves Away From the Classic Black Dial in 2026

(Photo credit: Rolex)

As Watches and Wonders closes, Rolex told Coronet it has more surprises to reveal, not just one, but a steady cadence of celebrations through the year to mark the 100th anniversary of the Oyster. It's unclear whether we will see more "100 YEARS" Oyster Perpetual dials, but the use of color appears a safe bet.

It seems Rolex has largely avoided black dials this year; even its 100-year OP is slate. The transition from the mechanical watch as a reliable, lifelong companion with neutral tones designed to outlast fashion cycles could be behind us. The Swiss watch industry may still talk about heritage and heirloom, transmission across generations, but today’s mechanical watches are meant to be collected and rotated like an accessory matching a mood or proper attire.

Ten colors, applied one at a time to build the dial’s final composition. (Photo credit: Rolex)

I asked Rolex whether its strategy of colorful dials is meant to encourage plurality of ownership, with each watch carrying its own identity. With fewer neutral or timeless colors, the new releases seem to cater to collectors over single-watch wearers. Rolex pushed back against the idea it is catering to collectors, saying instead that the dial has become a means of artistic expression and a showcase for its expertise, with the Oyster Perpetual serving as the ideal “playground” for that.

"We have real expertise in dial making, and this is a way to express and showcase it through materials, but also through artistic expression and color. The Oyster Perpetual range is the perfect playground for that," a Rolex representative in Geneva told me. "In that sense, we are continuing something that is meant to be fun and joyful within the same range. This allows us to reach a wide audience. Different colors speak to different customers, all on a steel watch that remains relatively accessible. It becomes a playground for expression.”

In a Smaller Watch Era, Rolex Releases a 44mm Collection

The new Yacht-Master II. (Photo credit: Les Rhabilleurs)

It’s been nearly two decades since Rolex introduced a collection at 44mm, with the Deepsea in 2008 and the Yacht-Master II in 2007. Those were the aughts, a decade that encouraged “wrist presence.” An exception came in 2022 with the 50mm Deepsea Challenge, an outlier rated for the Mariana Trench.

Still, it is puzzling to see Rolex release a 44mm collection in 2026, when the consensus is a return to more restrained proportions. Rolex watches have set trends in design and color, raising the question of whether larger sizes could follow. After all, smartwatches have gone against the grain for years, steadily increasing in size. While they hardly compare to luxury watches, they do compete for wrist attention. As a company that ships more units than the entire Swiss watch industry combined, Apple helps set size expectations, having moved from 38mm and 42mm cases in 2015 to 42mm and 46mm for its Series 11 today.

I asked Rolex whether the choice for 44mm was to expand the range in its catalogue, even though a 42mm Yacht-Master II might have increased sales, as it is closer to what most wrists can pull off. A representative in Geneva acknowledged that “diversifier l'offre et le choix” in the catalogue was part of the strategy, but said Rolex felt it was a size “appropriate for this tool watch which has a real function.”

“It is still the watch of the skippers, of the races, of the maxis,” she told me. “The skippers also tend to have more of an athletic build. So, a 44mm watch, we thought, would be appropriate for this kind of function and wearer.”

Adrian Barker, a YouTuber, says the watch is more wearable than expected on his 6.5-inch, or 16.5 cm, wrist. (Credit: Adrian Barker)

With Rolex’s New Releases, Its New Problem Is the Picture

The new OP 36 with a Jubilee dial. (Photo credit: Rolex)

When Rolex developed a new gold alloy for the Day-Date, the brand struggled to describe it. "We couldn't define what shade it had," a Rolex representative in Geneva told me. "Obviously, there is play of light. But some people saw it as more pink, some as more yellow, and others as more gray," she said. The brand settled on "Jubilee Gold." In its press kit for Watches and Wonders this week, it did not assign it a single color, but three.

In a day and age of computer-generated images, which present new releases in perfect conditions, Rolex is increasingly having the opposite problem. Today's images fail more and more to capture the nuances of Rolex's creations. "It's true this year even more so, I would say," the representative told me.

If last year’s release centered on the Land-Dweller and its revolutionary Calibre 7135, this year is about la maîtrise cadranière, or mastery of the dial. The part of the watch that offers Rolex the most creative freedom is also the one that photographs do the least justice.

"For example, there are many people who didn't necessarily like the new Jubilee dial in photos," the brand’s representative said. “And when they saw it in real life, they saw how well the colors stand out because the watches are about emotion. And they saw how much perfection there was in the execution of this dial, which they didn't realize in photos," she said.

The OP's Jubilee dial is not the only dial where computer-generated images have reached a limitation at Rolex. Photos of the new Daytona with a white dial and white sub-registers have difficulty capturing the chronograph's "slightly vitreous aspect of enamel," she said. "The same with the light green aventurine of the Day-Date dial with its subtle colors which play with the light." Even the new Yacht-Master II features a never-before-seen white lacquer coating on the dial, a first for the collection, designed to reduce reflections.

On the dial of its gold OP in 28 and 34, Rolex decided to cut the stone differently, using an ogive cut that eschews the typical play of light and keeps a matte effect to better match the color of the dial, a detail that is hard to pick up in photos. Rolex paired those OPs with a fully brushed gold case and bracelet. It was only after seeing the brushed-gold OPs in person that Tony Traina, a watch journalist, said it was his “favorite execution” from Rolex.

The full-gold OPs in 28 and 34. (Photo credit: Les Rhabilleurs)

On the Eve of Watches and Wonders, Rolex Missed Its Moment

Reach for the cork. (Photo courtesy of SailGP)

It was a little over a year ago that Roger Federer posted a photo of himself eating fondue while wearing an unreleased Rolex, the Land-Dweller. Many assumed it was a manufactured leak meant to generate buzz ahead of Watches and Wonders 2025. Coronet reported it was not. If it had been, the playbook would likely have been repeated this year with one of Rolex’s 155 Testimonees. Instead, a more organic moment presented itself this week and was missed by Rolex.

On Sunday in Rio de Janeiro, Tom Slingsby, one of the most accomplished sailors of his generation and a Rolex Testimonee, steered the Bonds Flying Roos to a commanding victory at the Rio Sail Grand Prix, despite everything his rivals and the conditions threw at him. His team moved to the top of the championship standings after the fourth event of the 2026 season. Winning all four races in a SailGP event is rare; doing so on the shifty, gusty waters of Guanabara Bay is exceptional. The result came just hours before Rolex was set to introduce a new regatta timer, the Yacht-Master II, at 6 p.m. U.S. Eastern time on Monday.

Rolex has been trying to promote SailGP since leaving Formula 1, deepening its ties with a series often described as the “F1 of sailing.” It now sponsors a sport it presents as “climate-positive,” featuring catamarans capable of reaching 100 km/h. Still, sailing remains underrepresented in its ambassador ranks, with seven Testimonees compared with 32 in tennis and 55 in golf. One of those sailors had just delivered a four-race sweep hours before the unveiling of the new Yacht-Master II. On the podium, as Slingsby and his team sprayed champagne, his wrists, in front of the world, remained bare.

By Retiring Its Most Popular GMT-Master II, Rolex Lets the Myth Grow

Fly away. (Photo credit: Rolex)

The most important news from Rolex at Watches and Wonders is the one it did not announce. The discontinuation of the GMT-Master II “Pepsi” is a reminder that Rolex is not a watch brand but a luxury brand. And luxury brands do not live off bestsellers, but on managing desirability across an entire collection.

The removal of the red-and-blue GMT-Master II is a clear example of a logic that applies to luxury goods but often puzzles the watch world. Why discontinue the models the market demands most? While desirability in a Rolex watch stems from its built and quality, it also rests on rarity. Sometimes you have to end a story to let the myth grow.

Still, the Pepsi is not the 5711, a watch dominating the collection so much Patek Philippe chief executive Thierry Stern said it had become “too dangerous,” because it risked defining an entire brand.

For Rolex, there are practical reasons to discontinue the watch. It will likely return after a short absence with a new design and a new movement, providing a rationale for a higher price point, given that demand for the watch is among the highest in the collection. Its reintroduction would likely be staged with fanfare after the myth has had time to build. After all, Rolex must offer something new each year. And while “it is very hard to invent a Rolex,” in the words of Jean-Frédéric Dufour, Rolex’s true strength has always been in improving — and reintroducing — its decades-old catalogue of legendary models.

The other reason is the Coke. The red-and-black–bezel GMT will likely appear first in precious metal, in keeping with Rolex practice, before any steel version. And for a white-gold Coke to succeed, the steel Pepsi has to step aside, avoiding cannibalization of a more expensive sibling.

Rolex Is Set to Revive Its Yacht-Master II Collection

Countdown to a comeback. (Credit: Rolex)

Rolex released a second teaser earlier today, an unusual move, but a sign that the brand wants to mark the 100th anniversary of the Oyster strongly enough to warrant a separate video, which was first released on Friday.

The video released on Sunday is more typical of past Rolex clips, teasing in short succession a range of models from the new collection. Among the pieces, Rolex shows a chronograph with the pushers of the Yacht-Master II, as they lack the screwlocks of the Daytona. The larger dot in the middle of the Triplock crown suggests it is made of white gold, not steel. As the watch turns in the video, a blue bezel is visible, with minute graduations extending past the 15 mark, an unusual design choice for the bezel of a Yacht-Master.

It is unclear if Rolex will release a steel version, but the fact it is relaunching the Yacht-Master II line is worth writing about. The brand has strengthened its ties with SailGP since leaving Formula 1 and is right not to abandon the regatta countdown model. The relaunch would align with the new patent covered in these pages, which eliminates the use of a Ring Command bezel to program the watch. It would also mark the third collection launch in four years, after the 1908 and Land-Dweller.

Still, a new Yacht-Master II suggests that a discontinuation at Rolex may be more of a pause, as the line was discontinued just two years ago. If the GMT-Master II “Pepsi” leaves the catalog in 2026, it may return sooner than expected, with a new patent, a new design and an excuse for Rolex to reposition pricing on one of its most sought-after watches.

Minute graduations extend past 15 on the 2026 Yacht-Master II bezel. (Credit: Rolex)

Watch Dealer Lists Rolex ‘Pepsi’ at $35,000 as Rumors Persist

(Photo courtesy of My Watch LLC)

A watch dealer with years of experience and a strong reputation has listed a steel Rolex GMT-Master II "Pepsi" for $35,000, the latest sign of speculation that the model may be discontinued in April. A Pepsi priced $10,000 above market is not new, but one listed by a prominent U.S.-based dealer with a five-out-of-five Google rating across more than 700 reviews is.

Danny Tiwaini, owner of My Watch LLC near Detroit, has listed a fully stickered steel Rolex "Pepsi" from 2026 for $35,000. Mr. Tiwaini said his pricing reflects the lack of unworn 2026 Pepsis available, particularly examples like his that remain fully stickered and include the white hang tag. "This might be the only one that exists to my knowledge," he told Coronet. "And if it does indeed get discontinued in April, it’ll be the one collectors will want in their safe. Of course, we paid a massive premium to be able to purchase it, and have priced it accordingly."

The modern steel Rolex Pepsi has exceeded $25,000 only a few times in recent years and will be topping it again this year, according to the most recent data by Chrono24, which has visibility on sold prices on its platform. When the steel Rolex Pepsi exceeded $25,000, both the peak and subsequent drop coincided with Watches and Wonders. Now, with the Geneva event only weeks away, the specter of a Pepsi discontinuation has collectors and dealers jittery again.

Mr. Tiwaini said his 2026 Jubilee examples have already sold for more than $25,000, though he has only seen a handful. This year, something is different, he said. “No one can get any 2026 models. It appears the lack of production is happening ahead of an announcement.” Mr. Tiwaini’s $35,000 listing remains a risky bet, at least until next year.

Rolex's Day-Date and the Question of What Comes Next

A new term for the president’s watch. (Photo: Rolex)

The big question of this year’s Watches and Wonders is not which watches will enter or exit Rolex’s catalogue, but which will receive the new calibre 7135, whose Dynapulse escapement uses 30% less energy.

Rolex could do worse than to choose the power-hungry Day-Date, which needs to move two discs simultaneously at exactly midnight, 365 times a year. One of them must rotate through a larger distance to display a full word, needing more energy per jump.

The energy gains made with Rolex’s new calibre, which took seven years to develop, are perfect for the so-called president’s watch, as they help minimize the risk of amplitude drop or incomplete jumps in this double calendar. That’s why Rolex introduced the 3200-series movement in the Day-Date first. Today, this model’s movement, the 3255, is over a decade old and the oldest in the catalogue.

The prestige of the president’s watch, offered only in precious metal and produced in smaller numbers than the Datejust, makes it the likely candidate for the new movement. Rolex has said it wants the Day-Date, which turns 70 this year, to “remain at the forefront of innovation.” A new calibre — and display caseback — would result in price pressure on existing models.

Rolex ‘Pepsi’ to Climb, Again, as Watches and Wonders Approaches

The arrow points up and to the right. (Photo: Rolex)

The Rolex GMT-Master II “Pepsi” in Oystersteel continues its climb on the secondary market and has recently topped $20,000, according to WatchCharts, representing a roughly 70% premium.

As every year, rumors of the Pepsi’s discontinuation intensify ahead of Watches and Wonders, which begins on April 14, fueling speculation about the model’s future. The bezel color, though iconic, remains difficult to produce in ceramic, as no stable mineral pigments exist that can color zirconia red with sufficient purity. Rolex’s ceramic is made from zirconia.

Further feeding the rumor is the fact Rolex’s official retailers no longer feature the Pepsi on their websites, even though the brand’s main site, Rolex.com, still does. Rolex provides the computer code that local, independent retailers implement on their sites. The model was likely removed from the code due to high demand, as retailers struggle to fulfill orders, fueling client frustration.

Estimated pre-owned prices for the Rolex GMT-Master II “Pepsi.” (WatchCharts.com)

Still, Pepsi production is already very limited. The Batman, Pepsi, Root Beer, Bruce Wayne and Sprite all rely on the same case and movement. Each new bezel introduced divides a fixed production base, making every variant more scarce. While the brand does not communicate production data or bezel ratios, it did not deny Coronet’s logic that fewer units of each variant are produced as a result of introducing more bezel options.

“I imagine that would make sense to think that way given we are already producing at a near maximum level,” a Rolex representative told Coronet. “And if we don’t want to sacrifice quality — which we will never do — I imagine that would be the case.”

The idea of a white-gold-only Pepsi is not far-fetched, as Rolex has moved upmarket in recent editions of Watches and Wonders, releasing more precious-metal pieces than steel. Today, Rolex offers four bezel colors for the steel GMT, compared with only two for white gold and one for the other metals.

The Hitchhiker’s Guide to Rolex Predictions in 2026

Crystal ball sold separately. (Photo credit: Rolex)

In the media, anniversaries are often overused to justify Rolex predictions. Based on Coronet’s interviews with the brand, Rolex appears to resist using anniversaries as a reason to introduce new watches. The brand even eschews any mention on its official site that the green-bezel Submariner began as an anniversary model.

The 80th anniversary of one of its most important collections, the Datejust, passed in 2025 without any anniversary release. The GMT-Master’s 70th anniversary did as well. When the Submariner turned 70 in 2023, Rolex made a minor hue adjustment to the green bezel, without a press release. The most recent anniversary marked by Rolex with a new model was not even its own, but the 100 years of the Le Mans race.

A more reliable way to make a Rolex prediction is to look at Tudor, as the two brands often move in parallel. Both introduced steel GMT models with Pepsi bezels in 2018. The opaline-dial Black Bay Pro with its orange hand is clearly inspired by the Explorer II. Tudor’s 1970s-style, integrated-bracelet Royal surfaced ahead of the Land-Dweller. Amazingly, this year, both brands released chronographs with pink and turquoise dials within months of each other. (The “Barbie Daytona” is an ultra-rare, off-catalog piece.)

Following Tudor’s release of the Ranger with a light dial just two months ago, a white-dial Explorer would be an easy addition for Rolex while renewing excitement for one of its entry-level watches. Similarly, offering the Daytona on a Jubilee bracelet, as Tudor already does with the Black Bay Chrono, would require minimal industrial change at a time when Rolex’s manufactures operate at full capacity. Finally, Tudor’s release of its first-ever moonphase watch last September also raises questions about the near-term plans for one of Rolex's newest collections, the 1908.