Singapore Rolex GMT Master 2: 1H 2023 Price Trends and Pepsi Buzz Update
I’m sure many of us are familiar with the latest Morgan Stanley Report, which indicates that Rolex and Patek prices have continued to decline due to an elevated supply of watches. (Source: Bloomberg, July 25, 2023)
As we approach the end of the first half of 2023, it’s time to provide an update on the Secondary Market Prices of Rolex GMT Master 2 models from the beginning of the year to date to verify the findings of the report. Do check out our previous post where we covered the Submariner models.
GMT Master 2 Sprite Destro in Oyster & Jubilee (Models 126720VTNR Oyster & Jubilee):
Introduced in Watches & Wonders 2022 and exploded in popularity, the Rolex Sprite quickly gained popularity for its distinctive green color and being Rolex’s first destro watch. After an initial surge in 2022, where prices for the first batch reached over S$70,000, both the oyster and jubilee variants have seen a significant decline of approximately 12.91% and 13.25%, respectively, compared to their prices at the start of 2023.
Typically destro watches will be less popular compared to their normal counterparts, hence this was probably why the high premiums could not be sustained. However it is important to note that it is a destro watch, and it may hold future collectible potential, given its unique position in Rolex’s lineup.
GMT Master 2 Batman in Oyster & Batgirl in Jubilee (Models 126710BLNR Oyster & Jubilee):
The 126710BLNR models have displayed more stability in pricing throughout the year, with a modest decline of 1.72% for the Batman and 2.06% for the Batgirl compared to their prices at the start of the year. The enduring popularity of the blue and black bezels contributes to their steady value in the GMT 2 lineup.
Two-Tone GMT Master Rootbeer (Model 126711CHNR):
The two-tone Rootbeer experienced a substantial drop of 3.58% compared to the beginning of the year. The Rootbeer has one of the most volatile price patterns we’ve seen of any watch, having a fluctuation of S$1000 every month, this is attributed to its consistent demand and occasional shortages in the market. With the big retail price increase it had this year, the two-tone Rootbeer can now be picked up at a reasonable premium above its retail price.
Full Everrose Gold GMT Master Rootbeer (Model 126715CHNR):
The full Everrose gold Rootbeer model has seen a relatively stable price throughout the year, despite dropping 3.2% from its initial value. Despite its popularity, it continues to be sought after and sells quickly, The Full Everrose gold Rootbeer, which was previously trading brand new at a slight premium over its retail price at the start of the year, is now available brand new at a price below its original retail value.
GMT Master 2 Pepsi in Oyster & Jubilee (Models 126710BLRO Oyster & Jubilee):
The Rolex Pepsi models, in both Oyster and Jubilee bracelets, have bucked the trend of declining prices. The BLRO colorway of the Rolex Pepsi, featuring a ceramic bezel, has been rumored to face production issues due to its complex manufacturing process.
Rolex has had to develop two different iterations of the bezel before arriving at the current version. All Rolex ceramic bezels are made from a single piece, requiring a meticulous dyeing process. The bezel must first be entirely dyed red before the darker blue color is applied to the other half, making it a challenging and time-consuming task. A rumored production issue with the dyeing of the bezel has made current dated brand new Rolex Pepsi to become scarce.
Authorized Retailers worldwide have been rumored to stop taking orders for the Pepsi due to supply constraints, further validating its rarity. The Rolex Pepsi in Oyster and Jubilee saw an increase of S$1530 (5.84%) and S$1400 (5.02%) respectively while all other GMT have fallen in price.
Will this shortage of Pepsi continue or will Rolex fix its production issue? Only time will tell.
Full White Gold GMT Master 2 Pepsi Meteorite Dial (Model 126719BLRO):
Finally, let’s explore the standout model in the Rolex Pepsi lineup—the White Gold Pepsi with a Meteorite dial. Similar to its stainless steel counterpart, this extraordinary timepiece witnessed an even more substantial price increase of S$4800, reflecting a remarkable 6.59% surge.
The surge was partly attributed to the complete discontinuation of meteorite dials on the Daytona series, sparking speculation that the meteorite Pepsi might be next in line. Presently, the Rolex GMT Pepsi and Day Dates are the only models featuring meteorite dials in the current Rolex production lineup.
This coupled with the buzz around production issues with the BLRO Pepsi added to the frenzy, driving prices to new heights. Though prices have slightly receded from their peak in April, the timepiece still boasts a remarkable 6.59% increase in value—a feat worthy of attention in our current market climate.
Overall Analysis:
The GMT lineup exhibits higher price fluctuations compared to the Submariner series, primarily due to the higher premium of these watches. Among the GMT models, the Sprite 126720VTNR experienced the most significant price dip, which is a common occurrence for newly released models, as observed with the 2023 release Guinness 126713GRNR/126718GRNR.
On the other hand, the Batman and Batgirl model 126710BLNR remained the most stable in terms of pricing within the current GMT lineup, while the two-tone Rootbeer model 126711CHNR displayed the highest volatility throughout the year. Notably, the full Everrose gold Rootbeer model 126715CHNR saw a drop below its retail price.
Despite the overall GMT model lineup dropping in price, there were exceptions in the BLRO bezel lineup, with the Rolex Pepsi Stainless models 126710BLRO, both in Oyster and Jubilee Bracelets, experiencing an average price uptick of 5%. The White Gold Meteorite model 126719BLRO, however, witnessed the most substantial increase in price, with a remarkable 6.59% surge.
For more detailed price graphs for each model, please visit the price trend section on our website. We would love to hear your thoughts on the rumors surrounding the Rolex Pepsi. Stay tuned as we will cover the Daytona lineup next.