What does “Pepsi” mean?

'Pepsi' is the nickname for a Rolex GMT-Master or GMT-Master II with a two-colour blue and red bezel, said to recall the colours of the soft drink. On the 24-hour scale the red half marks daytime hours and the blue half night-time. The colour scheme goes back to the first GMT-Master of the 1950s. Key references include the 1675 GMT-Master, made for around two decades from 1959; the 16710 GMT-Master II, whose aluminium insert could be ordered in Pepsi, Coke or all-black; the white gold 116719BLRO of 2014, the first with a red and blue ceramic bezel; and the steel 126710BLRO, launched in 2018 on a Jubilee bracelet, with an Oyster bracelet option added in 2021.

Dealers always give the reference, because a vintage aluminium Pepsi and a modern ceramic one are very different watches with different buyers. Aluminium inserts fade, and depending on how evenly they have aged this can add character or reduce value; inserts are also easy to swap, so an original, period-correct insert matters. On the steel 126710BLRO, the bracelet and the card date are usually the first things buyers ask about.

Example: 'Pepsi 126710BLRO on Jubilee, 2023 card, full set, unworn.'