Model Buying Guide

Rolex GMT-Master II
Pepsi · Batman · Root Beer Guide 2026

The traveler's watch that became a collector obsession. Every color configuration explained, current market prices, the GMT function demystified, and which reference makes sense for your collection.

Background

Developed for Pan Am Pilots

The GMT-Master was developed in partnership with Pan American World Airways in 1954 — the airline needed pilots to track two time zones simultaneously during transatlantic flights. The solution was elegant: a fourth (GMT) hand pointing to a 24-hour scale on a rotating bezel, allowing crew to read home time at a glance while flying through multiple time zones.

The bicolor bezel — initially red-and-blue for the "Pepsi" — was functional as well as decorative: red indicated daytime hours (6am–6pm) and blue indicated nighttime hours, making it immediately readable at altitude. The color coding convention became the watch's most distinctive visual signature.

The GMT-Master II (1983) improved on the original by allowing independent setting of the local hour hand — a critical upgrade for pilots moving through time zones who needed to set local time without resetting their reference (GMT) hand. This version has been in production ever since, with ceramic-bezel versions launching in 2007 for precious metal and 2013 for steel.

Reference Breakdown

Every Color Variant Explained

126710BLRO

"Pepsi" · Red/Blue · 2018–Present

The most coveted GMT configuration. Steel case, Jubilee bracelet — the first steel Pepsi since 1999. Two-color CERACHROM ceramic bezel, calibre 3285, 70-hour reserve. Launched at Baselworld 2018 to enormous demand. Extremely difficult to source at retail.

Pre-owned: ~$14,000–$18,000

126710BLNR

"Batman" · Blue/Black · 2019–Present

Updated version of the original Batman (116710BLNR). Steel, Jubilee bracelet, blue/black ceramic bezel, calibre 3285. Slightly more subdued than the Pepsi — strong secondary market demand, slightly lower premium.

Pre-owned: ~$12,500–$16,000

126715CHNR

"Root Beer" · Brown/Black · Everose

Everose gold case with brown/black ceramic "Root Beer" bezel. The premium precious metal GMT. Chocolate/black dial, Oysterflex bracelet. Commands strong premiums — the gold GMT with the most distinctive personality.

Pre-owned: ~$37,000–$46,000

126713GRNR

"Root Beer" · Two-Tone

Steel and Everose gold Rolesor with brown/black bezel. Two-tone version of the Root Beer — more accessible than full Everose while maintaining the distinctive bezel. Jubilee bracelet.

Pre-owned: ~$18,000–$24,000

116710LN

"Black" · Steel · 2007–2019

First ceramic-bezel steel GMT — all-black bezel with Oyster bracelet, calibre 3186. More accessible than current two-color variants. Strong everyday wearer — the under-the-radar GMT for buyers who prefer the mono-color aesthetic.

Pre-owned: ~$9,000–$12,000

16710

Aluminum Bezel · 1989–2007

Pre-ceramic era. Available in BLRO (Pepsi), BLNR (Batman), LN (black), and LV (green). Calibre 3185. Aluminum bezels are prone to fading but authentic period examples are increasingly collectible. "Pepsi" 16710BLRO in excellent condition commands significant premiums.

Pre-owned: ~$7,000–$12,000

How It Works

Using the GMT Function

The GMT-Master II's core function is tracking a second time zone. Here is how to use it:

Step 1 — Set home time: Pull the crown to position 2 (one click) and rotate the bezel until the 24-hour mark for your home time zone aligns with the GMT hand. For example, if home is New York (UTC-5) and GMT is 15:00, the GMT hand points to 15 on the bezel; you rotate the bezel so "10" (5 hours behind) aligns with 12 o'clock.

Step 2 — Set local time: Pull the crown to position 3 (two clicks) and advance the hour hand only to local time. The GMT hand and bezel remain fixed to home time. When you return home, reverse the process.

The practical beauty: the bi-directional bezel lets you track a third time zone by simply rotating the bezel to a third city's offset. Three time zones on one watch with no complications beyond a single additional hand.

Frequently Asked Questions

GMT-Master II Questions Answered

The Pepsi (126710BLRO) trades at a modest premium over the Batman (126710BLNR) — roughly $1,500–$2,500 more on the secondary market. Both are excellent choices. The Pepsi has deeper historical significance (the original bicolor GMT) and slightly stronger collector following. The Batman's all-blue-and-black bezel is more wearable with formal attire. Buy the one you want to wear — both hold value exceptionally well.
When Rolex released the steel Pepsi (126710BLRO) in 2018, it came on a Jubilee bracelet — the first steel GMT on Jubilee since the 1970s and 1980s. The Jubilee (five-link bracelet) is considered more elegant than the Oyster (three-link), and its combination with the Pepsi bezel recreated the aesthetic of vintage GMT references. This specific combination drove enormous demand and is part of why the Pepsi commands its premium.
Use our free Rolex serial number lookup tool to verify production year and confirm reference alignment. Critical check: ensure the reference number engraved between the lugs at 12 o'clock matches the bezel color you see — mismatched bezels (a common swap) are a significant value issue even on authentic cases.
The Root Beer GMT refers to the brown-and-black bicolor bezel configuration, named for its resemblance to the root beer color palette. Current Root Beer is the 126715CHNR (full Everose gold) and the two-tone 126713GRNR. Vintage Root Beer references (1675/8, 16753) in gold from the 1970s–1990s are highly collectible. The distinctive warm-toned bezel makes Root Beer the most distinctive GMT color variant.
Yes — particularly if you travel or work across time zones. The GMT adds genuine utility over the Submariner while occupying a similar collector tier. The secondary market premiums are similar to the Submariner for the top configurations (Pepsi, Batman). If you rarely need the second time zone, the Submariner or Datejust may be more practical. But the GMT is the better choice for anyone who genuinely uses the function.

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