Rolex GMT-Master II: Pepsi, Batman and Sprite prices and the premium over retail (2026)

The GMT-Master II was born for airline pilots and has become one of the most hotly contested Rolex models on the market. Its distinguishing feature, for anyone trying to value it, comes down to one word: the bezel. Two GMT-Master IIs with the same case and calibre can differ in value by €5,000 depending on the colours of their ceramic insert.

What a GMT-Master II is

The watch shows a second time zone thanks to a fourth hand that goes round the dial once in twenty-four hours, read against a bidirectional bezel graduated from 0 to 24. That is the principle of the GMT complication. On the current generation, the hour hand can be set independently, in one-hour jumps, without stopping the watch: a real travel tool.

The versions' nicknames come from the bezel colours:

• Pepsi: blue and red, the historic 1955 combination.
• Batman (or "Batgirl" on a Jubilee): blue and black.
• Sprite: green and black, with the crown at 9 o'clock for left-handers.
• Root Beer: brown and black, in steel and Everose gold or in solid gold.
• Bruce Wayne: grey and black, the latest arrival.

All current bezels are in Cerachrom ceramic. Two-colour bezels are reputed to be difficult to produce, which partly explains the relative rarity of some combinations.

2026 value grid by reference

The ranges below cover watches in good condition and complete (box, warranty card, booklets), according to our surveys of certified dealers and private sales in Europe. Retail prices are indicative, French 2026 price list, rounded.

These figures position the model, not your example. The GMT-Master II page details each version, and the valuation tool refines by year, condition and accessories.

The premium: real, but calmer than in 2022

The steel GMT-Master II still trades at a premium over retail. At the market's peak, in early 2022, a new Pepsi went for over €25,000; it fell back clearly in 2023, then stabilised. In 2026, according to our surveys:

• The Pepsi keeps the highest premium, around 40 to 70% depending on the bracelet and the year on the card.
• The Sprite follows, driven by its singularity: left-hand crown, date window at 9 o'clock, green bezel.
• The Batman has seen its premium shrink since other combinations arrived, but remains above retail.
• The Bruce Wayne, more recent and more available, shows the lowest premium of the steel versions.
• The two-tone Root Beer changes hands around its retail price: the gold content makes it easier to obtain in boutiques, and therefore less rare on the market.

This premium is not a return. It measures the gap between limited boutique supply and demand that does not want to wait. It can narrow if Rolex increases production or demand slows, as in 2023. We compare these gaps, model by model, in our article on the waiting list versus the grey market.

Jubilee or Oyster: a few hundred euros, sometimes more

The Pepsi and the Batman exist on a Jubilee bracelet and on an Oyster bracelet. The Pepsi, launched on a Jubilee in 2018, has only been offered on an Oyster since 2021: that Oyster version, more recent and initially produced in smaller numbers, first sold for more. In 2026, the gap has narrowed to a few hundred euros and depends mainly on the buyer's taste. On the Batman, the Jubilee ("Batgirl") is slightly more sought after than the old 116710BLNR on an Oyster.

Remember a simple rule: the bracelet counts for less than the year on the warranty card and the completeness of the box.

Older generations: a good value-to-use ratio

Discontinued references offer more reasonable access to the GMT-Master II:

1. The 116710LN (2007-2019), the first to receive a ceramic bezel, with the calibre 3186 and the green GMT hand. It is the most rational GMT to buy in 2026: modern, robust, valued below the coloured versions.
2. The 116710BLNR, the first Batman, on an Oyster. Its value remains close to that of the current Batman, a sign of good value retention.
3. The 16710 (1989-2007), with an aluminium bezel. Faded original inserts ("ghost") are sought after; a replacement insert takes value away. Some late examples without lug holes, or with a "stick" dial, are valued above the grid.

On these older watches, the authenticity of every part is the first issue. A GMT reassembled with an insert, a hand and a dial from different eras is a frankenwatch: it is worth only a fraction of the market value.

What pushes the value up or down

For the same reference, the order of importance is as follows according to our surveys:

• The [full set](/glossaire/full-set): an 8 to 12% gap on a recent watch, more on a Pepsi.
• The year and validity of the warranty: a card less than two years old carries weight in the negotiation.
• The condition of the bezel: a chip in the ceramic means a replacement at Rolex service, which the buyer will deduct.
• [Polishing](/glossaire/polissage): the bevelled lugs of GMTs do not take repeated polishing well.
• A documented [service](/glossaire/revision), especially for 16710s and 116710s.

Selling your GMT-Master II

The GMT-Master II is one of the easiest watches to resell: demand is international and the market value is readable. To get the best price, gather every element of the box, polish nothing, and get at least three buyers competing, as described in our complete guide to selling a luxury watch. In France, above €5,000 a sale by a private individual falls under the 6.5% flat tax, or the capital gains regime with proof of purchase; if you live elsewhere, check the rules of your country. Our sell your watch page summarises the steps.

In short

The bezel makes the market value of a GMT-Master II: Pepsi first, then Sprite and Batman, with Bruce Wayne and Root Beer around retail or just above. Older references, notably the 116710LN, offer a better balance between price and enjoyment. Before any transaction, calculate your GMT-Master II's market value: the reference, bezel, year and accessories are enough to get a range based on our price surveys.