Quick answer
Mechanically the Pepsi 126710BLRO and the Batman 126710BLNR are the same watch. They share the 40 mm case, calibre 3285 and black dial, and differ only in bezel colour and GMT hand. The Batman is still made and trades at roughly US$18,000 – US$20,500. The Pepsi was discontinued on 1 April 2026 and now asks US$25,000 – US$28,500.
So the decision is no longer just red versus black. It is whether the Pepsi's colours and history are worth about $7,500 (roughly RM30,600) more. We are independent and sell nothing; prices are October 2026 levels, MYR at 4.08.
What the 2026 Pepsi discontinuation changed
At Watches & Wonders 2026, Rolex removed both the steel 126710BLRO and the white-gold 126719BLRO from its catalogue. Neither appears on rolex.com, and Malaysian authorised dealers no longer list a Pepsi. For the first time since the 2018 launch of the steel ceramic version, a new Pepsi can only be bought on the secondary market.
How prices reacted
Buyers had expected it. Asking prices firmed in the months before April, as rumours spread and dealers held stock back. After the announcement, data cited by WatchCharts and Morgan Stanley showed a 2.3% dip in Q2 2026, as some holders sold into the news. By October 2026, dealer asks settled at about $24,500–34,000, depending on bracelet, card date and sticker status.
The Batman barely moved. It has traded at roughly 1.5 times list for two years, and the Pepsi's exit did not push it up noticeably. One plausible reason is that the 2024 126710GRNR "Bruce Wayne" has absorbed some of the displaced demand. The Bruce Wayne now trades above the Batman at US$20,000 – US$22,800.
Pepsi vs Batman specifications
The dataset table makes the point plainly: apart from the bezel, status and price rows, the two columns match.
| Spec | GMT-Master II 126710BLRO | GMT-Master II 126710BLNR |
|---|---|---|
| Case diameter | 40 mm | 40 mm |
| Case material | Oystersteel | Oystersteel |
| Bezel | Bidirectional rotatable 24-hour graduated bezel, two-colour red and blue Cerachrom insert, moulded numerals and graduations | Bidirectional rotatable 24-hour graduated bezel, two-colour blue and black Cerachrom insert, moulded numerals and graduations |
| Dial options | Black | Black |
| Calibre | 3285 | 3285 |
| Power reserve | 70 hours | 70 hours |
| Water resistance | 100 m | 100 m |
| Bracelet / strap | Jubilee five-piece links (-0001, 2018) or Oyster three-piece solid links (-0002, from 2021); Oysterlock folding safety clasp with Easylink 5 mm comfort extension link | Jubilee five-piece links (-0002) or Oyster three-piece solid links (-0003, from 2021); Oysterlock folding safety clasp with Easylink 5 mm comfort extension link |
| Introduced | 2018 | 2019 |
| Status | Discontinued (2026) | Current production |
| Retail price (US) | US$11,800 (last list price) | US$11,800 |
| Retail price (Malaysia) | — | RM51,000 |
| US retail in MYR (converted) | ≈ RM48,100 at 4.08; Malaysian list price not published | — |
| Pre-owned (excellent, box & papers) | US$25,000 – US$28,500 | US$18,000 – US$20,500 |
Both run calibre 3285 with a jumping local hour hand, 70 hours of reserve and Superlative Chronometer certification. Both are rated to 100 m. Each was offered on Jubilee first, with the Oyster bracelet added in 2021.
Design and wearability
Bezel and GMT hand
The Pepsi's bezel is red from 18:00 to 06:00 and blue for the other half. Its GMT hand is red. The Batman's bezel is blue and black, with a blue GMT hand. Both inserts are a single piece of Cerachrom ceramic, coloured in two halves by a process Rolex patented. That is the reason neither fades the way vintage aluminium Pepsi inserts did.
The red ceramic was the harder one to perfect. Rolex first used it in white gold on the 116719BLRO in 2014 and only brought it to steel in 2018. As a result, the Pepsi was always the more allocated of the two.
In everyday wear, the Batman is the quieter watch and the Pepsi the louder one. Its blue and black blend with suits and navy clothing. By contrast, the Pepsi draws comments, which some owners enjoy and others do not.
Case, lugs and bracelet
| Measurement | Pepsi 126710BLRO | Batman 126710BLNR |
|---|---|---|
| Diameter | 40 mm | 40 mm |
| Thickness | about 12 mm | about 12 mm |
| Lug to lug | about 48 mm | about 48 mm |
| Lug width | 20 mm | 20 mm |
| Jubilee version | -0001 (2018–2026) | -0002 "Batgirl" (2019–) |
| Oyster version | -0002 (2021–2026) | -0003 (2021–) |
| Clasp | Oysterlock with 5 mm Easylink | Oysterlock with 5 mm Easylink |
The Pepsi and the Batman both suit wrists from about 16 cm (6.3 in) upwards. The Jubilee drapes better on smaller wrists, while the Oyster looks sportier. Easylink adds one 5 mm step, which helps in humid weather. For finer adjustment, however, you need to size the links carefully. Our bracelet guide compares the two styles.
Movement and function
Calibre 3285 is shared, so there is no functional difference between Pepsi and Batman at all. Pull the crown to the first position and the local hour hand jumps in one-hour steps, while the seconds keep running. The date follows the local hour forwards or backwards. Meanwhile the 24-hour hand stays on home time, so you read a second zone against the 24-hour scale.
Turn the bezel and you can track a third zone. For example, a Kuala Lumpur traveller in London can keep KL time on the 24-hour hand and set the bezel for New York. The 3285 has the Chronergy escapement, a blue Parachrom hairspring and 70 hours of reserve, and Rolex certifies it to −2/+2 seconds a day.
The previous generation differed more. The 116710BLNR of 2013–2019 used calibre 3186 with 48 hours of reserve and only came on an Oyster bracelet. It trades at US$15,500 – US$17,500, which makes it a value alternative if you want a Batman for less.
Pepsi vs Batman prices in October 2026
| Reference | Retail | Unworn, full set | Excellent, B&P | Good, no papers | Mid-band vs retail |
|---|---|---|---|---|---|
| GMT-Master II 126710BLRO | US$11,800 | US$29,000 – US$34,000 | US$25,000 – US$28,500 | US$22,500 – US$25,000 | +127% |
| GMT-Master II 126710BLNR | US$11,800 | US$20,500 – US$23,000 | US$18,000 – US$20,500 | US$16,000 – US$18,000 | +63% |
| GMT-Master II 126710GRNR | US$11,800 | US$22,000 – US$24,500 | US$20,000 – US$22,800 | US$18,000 – US$20,000 | +81% |
| GMT-Master II 116710BLNR | n/a | US$18,000 – US$20,000 | US$15,500 – US$17,500 | US$14,000 – US$15,500 | — |
Retail is the current (or last) US list price. Pre-owned bands are rounded market ranges for October 2026; MYR ≈ USD × 4.08.
Reading the table
Both last carried a US list price of US$11,800 on the Oyster bracelet, about $12,000 on the Jubilee. The Batman is still listed in Malaysia at RM51,000 (Oyster) and RM51,950 (Jubilee). The Pepsi has no current Malaysian list price, since it was withdrawn before one could be confirmed for 2026.
On the secondary market, an excellent Batman with papers sits at US$18,000 – US$20,500, about RM73,450–83,650. Malaysian grey dealers ask around RM74,500 for an Oyster example. An excellent Pepsi sits at US$25,000 – US$28,500, about RM102,000–116,300. Unworn Pepsi sets ask US$29,000 – US$34,000.
What moves each price
For the Pepsi, bracelet and card date matter most. Jubilee examples usually ask $1,000–3,000 more than Oyster ones at the same dealer. Final-year cards and stickers add more. Conversely, a chipped red/blue insert is a serious deduction, since ceramic cannot be refinished.
For the Batman, the Jubilee "Batgirl" also asks more, and 2019 launch-year pieces have a small following. Otherwise the price is driven by condition and completeness, as with any current Rolex. See the used Rolex price guide for how condition bands work.
Ownership, servicing and resale
Servicing a Pepsi or a Batman is identical in schedule and cost, because the calibre and case are shared. Rolex suggests roughly ten-year intervals for the 3285, and the five-year international guarantee runs from the date on the card. The one cost difference is the insert. A replacement two-colour insert is costly on either, and on a Pepsi an original one matters more to the next buyer. See Rolex service and value.
On resale, the Batman behaves like any current steel sports Rolex: liquid, stable and predictable. The Pepsi now behaves like a discontinued reference. It has a fixed supply and a premium driven by sentiment, so it can rise or fall faster. Discontinued steel Submariners such as the Hulk 116610LV show both sides: still above their successors, but well off their 2022 peaks.
Pepsi or Batman: which should you buy?
Choose the Pepsi 126710BLRO if…
- the red and blue bezel is the GMT you have always wanted
- you value the 1950s pilot's-watch lineage
- you can pay about $7,500 more without stretching
- you accept that a discontinued watch's price can swing
- you prefer the Jubilee and want one of the 2018–2026 run
Choose the Batman 126710BLNR if…
- you want a steel GMT to wear, not a collectible to guard
- you prefer a quieter blue and black look
- you would like a chance of buying at retail from an AD
- you want a fresh five-year guarantee on a new watch
- you want the same calibre 3285 for far less money
Verdict
For most buyers in late 2026, the Batman is the better purchase. It is the same watch, still in production, and costs about $7,500 less on the grey market. The Pepsi makes sense only for buyers who specifically want the red and blue bezel and can absorb a discontinued-watch premium. If neither bezel grabs you, look at the Bruce Wayne or the left-handed Sprite before deciding.
Related: Submariner vs GMT-Master II, the full GMT-Master II collection, and the retail vs market price guide.
Pepsi vs Batman FAQ
Pepsi or Batman: which is more valuable?
The Pepsi, by a wide margin since its April 2026 discontinuation. In October 2026 an excellent 126710BLRO with papers trades at US$25,000 – US$28,500, against US$18,000 – US$20,500 for a 126710BLNR. Both had the same last US list price of US$11,800 on the Oyster bracelet, so the whole gap is market demand.
Is the Rolex Pepsi discontinued?
Yes. Rolex removed the steel 126710BLRO and the white-gold 126719BLRO from its catalogue at Watches & Wonders in April 2026. Neither appears on rolex.com or in Malaysian authorised dealer catalogues. The Batman 126710BLNR remains in production on both Jubilee and Oyster bracelets.
Will the Pepsi GMT go up in value after discontinuation?
Nobody can promise that. Prices firmed into the announcement, then dipped slightly in Q2 2026 as speculators sold. Discontinued steel sports models such as the Hulk 116610LV have historically held a premium over their successors, but they also fell from their 2022 peaks. Buy a Pepsi because you want one, not as a forecast.
What is the difference between Batman and Batgirl?
Only the bracelet. 'Batgirl' is the collector name for the 126710BLNR-0002 on a Jubilee bracelet, introduced in 2019. The Oyster-bracelet version, -0003, followed in 2021. Same case, bezel, dial and calibre 3285. The Jubilee lists at about $12,000 in the US and RM51,950 in Malaysia, slightly above the Oyster.
Why is it called the Pepsi?
Because the red and blue bezel resembles the colours of the soft-drink logo. The combination dates back to the first GMT-Master of the mid-1950s, which helped airline pilots tell day hours from night hours. Rolex itself never uses the nickname; the 'BLRO' suffix stands for bleu/rouge.
Is a Pepsi worth the extra money over a Batman?
Only if the red and blue bezel is what you really want. Mechanically the two are identical, so the extra $7,000–8,000 pays purely for colour, history and scarcity. If you simply want a steel GMT-Master II to wear, the Batman or the Bruce Wayne offers the same watch for far less.
Last updated . Written and fact-checked by the Rolex Malaysian editorial team. Specifications and prices are re-checked quarterly.