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.