Popping the bubble. (Data: WatchCharts)
The market consensus seems to be that the Pepsi is not gone for long. Or at least that buyers’ willingness to pay meteoric prices has quickly reached a ceiling after the model’s discontinuation less than a month ago. That’s according to the latest data from WatchCharts, which show Pepsi prices are now trending down.
Rumors of its discontinuation began circulating at the start of the year, driving secondary prices higher, as tracked in these pages. The stainless steel 126710BLRO, by far the most popular of the trio, saw the biggest gain, while the two white gold variants appreciated as well. Older Pepsi references also benefited from the discontinuation rumors, WatchCharts said.
Now, prices of the Pepsi references have started to decline, a sign the market may have overestimated the model’s desirability following the discontinuation. The resurrection of the Yacht-Master II just two years after it was removed from the catalog has also eased fears that the Pepsi will be gone for long. WatchCharts said the number of listings steadily shrank from early February through the mid-April announcement, as buyers feared missing out and dealers stocked up on pieces ahead of Watches and Wonders, removing even more inventory from the market. New Pepsi listings hit an all-time high in the seven days following the discontinuation announcement, as sellers rushed to capitalize on the news. But the sudden surge in supply is now having the opposite effect, pushing Pepsi prices lower.