Reference:126710BLRO

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GMT-Master → 126710BLRO

The 126710BLRO is the steel ceramic Pepsi on Jubilee, the watch Rolex dropped at Baselworld 2018 and the release that defined that year’s industry narrative. It is the first steel GMT-Master II with a red-and-blue Cerachrom bezel. It is also the first GMT-Master II on Jubilee since the 1675 era. Robb Report called it the hottest watch launch of 2018. Grey-market purchase requests would later spike 500% in one week when Rolex pulled it from the catalogue in 2026.

The white gold 116719BLRO had held the ceramic Pepsi slot for four years. When the steel version finally arrived, it carried the same bezel at roughly one-fifth the retail.

Core facts

detail value
reference 126710BLRO
family GMT-Master II
production 2018-2026
movement caliber 3285
case 40mm Oystersteel
crystal sapphire with Cyclops
water resistance 100m
bezel two-colour red-and-blue Cerachrom
bracelet Jubilee at launch (-0001); Oyster added later (-0002)
dial black lacquer
key identity first steel ceramic Pepsi; first Jubilee GMT since the 1675 generation

Where it sits in the line

The 126710BLRO is the third ceramic GMT-Master II and the one that made the platform mainstream. The 2013 116710BLNR Batman had established ceramic in the GMT with a blue-and-black bezel; the 2014 116719BLRO had brought back the Pepsi but only in white gold. The 2018 steel Pepsi was the moment the full modern configuration landed in a steel case on a four-figure retail — and the moment the waitlist became the story.

Sotheby’s “Pepsi key references” editorial treats the 126710BLRO as the current-era chapter of the Pepsi lineage that runs from 6542 through to the ceramic era. Revolution framed the 2018 announcement as the headline of a three-watch launch that also included the two 126711CHNR / 126715CHNR Rootbeer variants.

Production outline

Rolex introduced the 126710BLRO at Baselworld 2018, initially on Jubilee only (m126710blro-0001). In 2021 the reference gained an Oyster-bracelet configuration (m126710blro-0002), giving buyers a choice without changing the case or dial. The reference stayed in the catalogue until Watches & Wonders 2026, when Rolex dropped both the steel and white gold Pepsi references from its lineup without announcement. Robb Report captured the post-discontinuation market: unworn examples moving past $40k, used examples past $30k, and a 500% surge in secondary-market purchase requests in the first week of March 2026.

Rolex published no explanation. Robb Report noted that the long-rumoured Coke (red-and-black) ceramic that collectors had speculated about for years never arrived.

Movement notes

Caliber 3285 was new for 2018 and launched in this reference alongside the Rootbeer pair. It is the successor to the 3186 and carries the Chronergy escapement, Parachrom blue hairspring, and Paraflex shock absorbers. Power reserve is 70 hours — up from the 48-hour reserve of the 3186. Rolex also certifies it to Superlative Chronometer spec at -2/+2 seconds per day, tightened from the older COSC -4/+6. Independently adjustable local hour hand and quickset date carry over from the earlier GMT movements.

SJX’s launch coverage called out the Chronergy escapement as the headline technical change; Monochrome and Robb Report both anchored the 70-hour reserve as the consumer-facing improvement.

Dial map

Black lacquered dial with white gold applied Maxi markers and Chromalight lume. The GMT-Master II text is printed in green — a design code Rolex uses across the modern GMT line. The red GMT hand sits against the black dial; the matching red-and-blue bezel gives the watch its identity.

No mid-run dial variants are documented. The -0001 and -0002 references differ only in bracelet; the dial remains constant. Collectors who track modern production have not surfaced any printing or font transitions of the kind that split the late 16710.

Case, bezel, crystal, and crown notes

The 40mm Oystersteel case uses the modern GMT-Master II architecture — the same platform as the 116710BLNR Batman and the later 126710GRNR and 126720VTNR. Case proportions are approximately 40mm diameter, 48mm lug-to-lug, 12mm thick. Triplock crown, solid screw-down caseback, 100m water resistance.

The two-colour Cerachrom bezel is the reference’s defining feature. Rolex had introduced two-tone Cerachrom in 2013 on the 116710BLNR and refined the process on the 2014 white gold 116719BLRO. By 2018 Rolex had the process dialed in enough to bring the red-and-blue insert to steel. The red half of the bezel requires different kiln chemistry than the blue; firing both in a single piece without muddy colour boundaries is the patented technical achievement that Revolution, Monochrome, and SJX all cite in their launch coverage.

The crystal is sapphire with a Cyclops over the date window at 3 o’clock, carrying the standard anti-reflective treatment.

Bracelets, end links, clasps, and packaging notes

The Jubilee bracelet returned to the GMT-Master II on this reference. The five-link Jubilee had not been a production option on the GMT since the 1675 era; the 1675 Jubilee was a period fitting that collectors now treat as characteristic of the 1960s-1970s watches. The 2018 return to Jubilee was either the headline of the launch or the complaint of the launch, depending on the reviewer. Time+Tide took the positive side. aBlogtoWatch and Monochrome stayed neutral and let the bracelet speak.

The Jubilee is fitted with the Oysterlock safety clasp and the Easylink 5mm extension. Launch retail sat at approximately CHF 8,800 (Monochrome) or USD 9,250 (SJX). Both figures moved upward over the production run.

The 2021 introduction of the Oyster-bracelet -0002 gave buyers the option of either bracelet on the same reference. No other bracelet or clasp variants are documented.

Special branches

Jubilee-bracelet -0001 (2018-2026)

The launch configuration. Jubilee, Oysterlock, Easylink. The default presentation of the reference for the first three years and still the dominant secondary-market configuration.

Oyster-bracelet -0002 (2021-2026)

Added approximately three years into production. Same case, same bezel, same dial; Oyster bracelet with Oysterlock and Easylink. The 2021 addition resolved the Jubilee-or-nothing starting position.

Pepsi nickname

“Pepsi” refers to the red-and-blue colour combination and descends through the reference lineage from the 6542. It does not apply to any other bezel colour.

Historical market and auction record

Sotheby’s included an early-production 126710BLRO circa 2019 in the 2020 Important Watches Part II sale, with cataloguing language “stainless steel dual time wristwatch with date and bracelet.” The presence of the reference on a tier-1 auction roster within 18 months of launch marked the rapid move from waitlist novelty to secondary-market instrument.

Secondary-market data shows double-digit appreciation through the 2020-2024 window, with strong liquidity (short days-to-sell) relative to the broader Rolex sports catalogue. Robb Report’s 2018 launch piece and 2026 discontinuation piece bookend the retail-to-grey-market trajectory: CHF 8,800 launch retail, then years of waitlist premium, then unworn examples above $40k in the post-discontinuation week.

Sources

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