The Rolex “Pepsi” GMT Master II is a perennial favorite of collectors.
Watch enthusiasts continue to pine after legendary timepieces from a company like Rolex. But only two iconic models from the world’s best-known luxury watchmaker actually rose in value on the secondary market last year, a new report shows.
The Bloomberg Subdial Watch Index (which tracks the price of the 50 most-traded luxury watches on the resale market) shows that the Rolex “Pepsi” GMT Master II (Ref. 126710BLRO) and the Lady-Datejust (Ref. 69173) went up in price across the past year.
The Rolex “Pepsi” GMT Master increased about five percent in price over the last year, with a resale watch now going for an average of about $20,000 on the secondary market, while the Lady-Datejust now retails for about $4,200, an increase of 1 percent.
Both increases in value are reflective of their status as icons, says Paul Altieri, CEO and founder of Bob’s Watches.
The scarcity of the Rolex “Pepsi” GMT Master has long driven its resale price, but there are other factors at play.
“Over the last year, the Rolex ‘Pepsi’ GMT Master II hasn’t just gone up in value; it has become a true collector’s timepiece. Why? It’s simple. This watch, with its iconic red and blue bezel, brings back the golden age of travel every time you glance at it,” Altieri said.
The two-tone color scheme has long been instantly recognizable, with its sturdy build lending itself to all sorts of global adventures.
The GMT-Master was originally introduced to help Pan-Am pilots track time zones, and while the color originally reflected the Pan-Am logo itself, it gained cult favorite status for its resemblance to a certain soft drink logo.
Altieri also noted the watch is so much more than just a timepiece, as Rolex collectors can also attest, and holds plenty of sentimental value.
“It’s not just a watch; it’s a piece of history on your wrist, reminding us of a time when the world felt a little bigger and more adventurous,” Altieri said. “The love for this model isn’t just about what it looks like; it’s about the stories it tells and the memories it sparks. That emotional connection is why we’ve seen its price soar.”
The Lady Datejust, on the other hand, holds a similar place in the hearts and minds of Rolex collectors and timepiece fans, Altieri noted.
The fluted bezel and champagne dial, along with its refined case size of 26mm, have long attracted those looking for a crisp, tasteful dress watch.
“The Lady-Datejust has always been a symbol of elegance, but in the past year, it’s become so much more than that,” Altieri said. “Its classic design, blending gold and steel, has struck a chord with people looking for something that feels both luxurious and personal.”
As to its increasing value on the secondary market, Altieri believes that it’s the shift back to timeless elegance in our lives” leading the surge.
“People are looking for pieces that aren’t just beautiful but feel like they’ve got a story to tell,: Altieri said. “The Lady-Datejust does just that, marrying Rolex’s commitment to excellence with a style that’s as relevant today as it was decades ago. It’s not just a watch; it’s a statement of who you are and what you value.”
As long as collectors and Rolex fans look for added value, authenticity and stories that go beyond the watch on their wrist, it appears the secondary market for these two legendary timepieces will keep booming.
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