Rolex GMT-Master II Oystersteel — Black Dial, Pepsi Bezel | Ref. 126710BLRO

Reference 126710BLRO reintroduced the 'Pepsi' bezel to the GMT-Master II lineup in steel when it debuted at Baselworld 2018, ending a long period during which the red and blue colour scheme had been reserved for white gold references only. The decision was met with extraordinary demand, and the watch became one of the most sought-after Rolex references of the modern era. Its Jubilee bracelet — the first time this bracelet had been offered on a GMT-Master II in steel — added further desirability.

At its core is Calibre 3285, Rolex's purpose-built GMT movement featuring an independent, independently adjustable 24-hour hand for a second time zone. Running at 28,800 vph with a 70-hour power reserve, it incorporates the Chronergy escapement and Parachrom hairspring, offering best-in-class precision for a mechanical movement in this category. The bidirectional Cerachrom bezel insert in blue and red ceramic provides colour durability that is essentially permanent.

126710BLRO sits at the apex of the current steel sports watch market. Wait times at authorised dealers have exceeded five years in many markets, and secondary pricing has historically traded at significant premiums to retail. For collectors, it represents the full expression of the GMT-Master II's dual-zone utility combined with the most emotionally resonant colour execution in the model's history — a combination unlikely to diminish in prestige.