The Rolex GMT-Master II is one of the most famous travel watches in the world. Two versions stand out the most. The “Pepsi” has a bright red and blue bezel that reminds people of classic aviation style.
The “Batman” has a black and blue ceramic bezel that looks more modern and bold. Both watches work the same way but have very different looks, so choosing between them comes down to your style and what kind of investment you want to make.
History and Headline Specs: Pepsi and Batman at a Glance
The Pepsi keeps the classic red and blue GMT look that started in the 1950s. In 2018, Rolex brought it back in stainless steel as model 126710BLRO, first released on a Jubilee bracelet.
The Batman came out in 2013 as the first Rolex to use a two-color ceramic bezel in black and blue. That model was called 116710BLNR. The newer version, 126710BLNR, runs on the Caliber 3285 movement.
Both watches now share the same 40 mm Oystersteel case, a rotating Cerachrom bezel, and the Caliber 3285 with a 70-hour power reserve and easy-to-set local hour hand. They are water resistant up to 100 meters and certified Superlative Chronometers with long-lasting Chromalight glow.
Origins and Nicknames
Rolex first made the GMT-Master in the 1950s for Pan Am pilots who needed to track time in two places. The red and blue bezel helped them tell day from night quickly, which led people to call it the “Pepsi.”
Later, the black and blue version earned the nickname “Batman.” In 2013, Rolex showed it could finally make a two-color ceramic bezel, starting with the Batman model.
Quick Timeline:
- 2013: 116710BLNR launches with black-blue ceramic.
- 2018: Steel Pepsi 126710BLRO launches on Jubilee.
- 2019: BLNR transitions to Caliber 3285 on Jubilee. “Batgirl” nickname appears for BLNR on Jubilee.
- Today: BLRO and BLNR are offered on Jubilee and on Oyster in various SKUs. Supply and availability vary by market.
Bezel
The bezel is the easiest way to tell these two watches apart. Each one gives a completely different look on the wrist.
- Pepsi: Its red and blue ceramic bezel stands out with bright, bold colors. The red looks lighter in the sun, while the blue changes slightly depending on how you look at it.
- Batman: Its black and blue ceramic bezel feels more modern and refined. The colors blend smoothly, with the black soaking up light and the blue catching it just enough to shine.
The Pepsi’s design ties back to the watch’s roots in aviation. The Batman feels more current and stylish. Collectors often say the Batman fits better with business outfits, while the Pepsi is the flashier choice for anyone who wants their watch to stand out.
Dial & Case
Both watches have the same 40mm stainless steel case, the strong Triplock crown, and the tough build that Rolex GMT-Master II models are known for.
The dial is glossy black with bright white hour markers and Chromalight glow for easy reading in the dark. The hands follow the classic GMT style, with the extra arrow-shaped hand to track a second time zone.
Each watch uses a scratch-resistant sapphire crystal with a small magnifier over the date. The case is 12.1mm thick and measures 48mm from lug to lug.
The dial design is clean and balanced, with hands and markers sized just right for quick reading. Both watches keep Rolex’s trusted mix of accuracy, strength, and everyday reliability.
Bracelet Options & Wear
The bracelet you choose for a Rolex GMT can change how the watch feels and looks. Many collectors have strong opinions about which one is better.
- Jubilee Bracelet: The newest Pepsi and Batman models come with the five-link Jubilee bracelet. It feels smooth on the wrist, looks more detailed, and gives the watch a dressier style.
- Oyster Bracelet: Older Batman models (like the 116710BLNR) came with the three-link Oyster bracelet. It has a simpler, tougher look that many people associate with a classic sport watch.
The Jubilee’s shiny center links reflect light beautifully, while the Oyster has wider, brushed links that look more practical and rugged. Some collectors hunt for the older Batman models with the Oyster bracelet, while others like the comfortable, polished feel of the modern Jubilee.
Technical Specs: Built for Top-Level Performance
Under their different looks, the Pepsi and Batman are the same on the inside. Both use the same movement and perform equally well. The GMT-Master II line is one of Rolex’s most useful watches, built for accuracy and designed to help travelers and professionals keep track of time around the world.
Movement
Both watches use Rolex’s advanced Caliber 3285 automatic movement. It’s one of the best examples of the brand’s watchmaking skill.
This self-winding movement keeps itself powered as you wear it. It runs for about 70 hours, which is nearly 40% longer than the older version. It also includes a special blue Parachrom hairspring that resists magnetic fields and shocks. The Chronergy escapement improves how efficiently the watch runs, keeping time steady and reliable.
Each Caliber 3285 is tested and certified as a Superlative Chronometer, accurate within just a few seconds per day. The longer power reserve means you can take it off on Friday and put it back on Monday without having to reset the time or date.
Functionality
Both watches do a lot more than just tell time, making them great for travel or daily use.
They include:
- Real GMT function with an hour hand you can set separately
- A 24-hour bezel to track a second time zone (or even a third with the GMT hand)
- A date display that changes instantly at midnight
- Water resistance up to 100 meters (330 feet)
- A Triplock crown system that helps keep water out
- Bright Chromalight glow so you can read it easily in the dark
The main highlight is the GMT feature, which lets you follow more than one time zone at once. Frequent travelers love that they can adjust the local hour hand without stopping the watch or losing accuracy on the minutes and seconds.
Market Value and Availability: Comparing Rolex Pepsi and Batman Prices
The market for these famous watches gives an interesting look into how luxury watch prices work. Even though the two GMT models have the same features, their prices and demand move in different ways in both retail stores and the resale market.
Knowing how this works can help you choose wisely, not just based on looks, but also on the value of your investment.
Prices and Availability: Retail, Market, and Value
Retail prices of current steel BLRO and BLNR are close. Market prices vary by bracelet, condition, and set. The Pepsi often carries a premium due to demand and some configurations that are harder to source.
Retail Price Trends
Both the Pepsi and Batman Rolex models have the same retail price, showing how Rolex keeps prices consistent across similar watches. Even though the bezel colors are different, the stainless steel versions cost the same. In 2024, each model on the Jubilee bracelet sells for about $11,150.
Older versions followed the same pattern. When the 116710BLNR Batman with the Oyster bracelet was discontinued in 2019, it sold for around $9,250. The type of bracelet can slightly change the price. The Jubilee version usually costs a bit more than the Oyster because it’s more complex to make and adds a higher sense of value.
Secondary Market Price Today
The secondary market shows big differences between retail and resale prices for both models. Each one sells for much more than its original price because they’re hard to find and highly wanted.
The stainless steel Pepsi usually sells for around $22,000 to $25,000 on the pre-owned market, which is about double its retail price. It has stayed very strong in value since it first came out in 2018.
The Batman model usually goes for $18,000 to $21,000 when resold. That’s still a big jump above retail, though a little less than the Pepsi. Older versions with the Oyster bracelet often sell for about the same as newer ones. The watch’s condition matters a lot. Brand-new or unworn pieces bring the highest prices, while ones with wear or scratches sell closer to retail.
Waitlists and How Limited Supply Affects Prices
Authorized dealer waitlists and limited stock make these watches hard to get. When certain bracelet styles change or supplies run low, prices often go up. Sometimes collectors talk about possible changes, which can cause short-term spikes in demand.
Don’t get caught up in the rumors. Choose the version you like best and buy it at a price that feels fair now. The market can change anytime based on tariffs, brand pricing, or overall demand.
Long-Term Perspective
The Rolex GMT-Master II is one of the brand’s most popular and trusted watches. Stainless steel versions usually keep their value better than most other luxury watches. The ones worth the most are full sets that include the box, papers, and are in great shape with a recent warranty or service record.
The Pepsi model has become even more popular over the past year or so. Still, the best reason to buy one is because you love wearing it. Any resale value should just be an added bonus.
Style & Fit: Which GMT Suits Your Wrist
Both watches are 40 mm, but they look different on the wrist. The Pepsi feels brighter and more classic, while the Batman looks cooler and more modern. The bracelet also changes the style. The Jubilee feels dressier, and the Oyster feels sportier.
Color Story and Wardrobe Pairing
The Pepsi’s red and blue colors stand out in photos and catch attention from across the room. It’s perfect for casual outfits, travel days, and weekends, and it matches well with navy or denim. The Batman’s black and blue look is more subtle, great for suits, all-black outfits, or everyday work wear.
Go with the BLNR if you like a quiet, refined style. Pick the BLRO if you want the classic GMT look that stands out.
Collector Notes and Variants to Know
The first Batman model, called 116710BLNR, used the older Caliber 3186 movement and had a thicker “super case” design. In 2018, Rolex brought back the steel Pepsi version as 126710BLRO with a Jubilee bracelet.
Later, the Batman (BLNR) also came with the Jubilee and then returned to the Oyster bracelet in newer versions. The nickname “Batgirl” refers to the Batman with the Jubilee bracelet.
If you like the finer details, look closely at the fonts, bracelet codes, and clasp markings from different years.
Batman vs Pepsi: Making Ultimate Decision
After learning about both watches, buyers should think about what fits their style and lifestyle best.
The Rolex GMT-Master II Pepsi stands out for its rich history. Its red and blue bezel honors the first GMT-Master design and gives it a bold look on the wrist. It’s the perfect pick for collectors who value classic style, heritage, and a story that goes back more than 60 years.
The Rolex GMT-Master II Batman feels more modern with its black and blue colors. It’s sleek, works well with any outfit, and is great for people who like Rolex innovation but prefer a quieter, more refined style.
Both watches are hard to find and sell for high prices on the resale market. Buyers should decide if the look and story are worth the cost or consider building a relationship with an authorized dealer for a chance to buy at retail later.
If you’re ready to own one, check the Rolex GMT-Master II listings at Timepiece Trading. Every watch is verified and fairly priced, with options in different bracelet styles, conditions, and full-set packages.
