Rolex GMT Pepsi and Batgirl: Full Market Analysis
An in-depth look at the Rolex GMT 126710BLRO and 126710BLNR: price trends, market performance, and insights from exclusive data
The watchmaking world is gearing up for the highly anticipated Watches & Wonders 2025, and among the most anticipated news is undoubtedly what Rolex might have in store for the 70th anniversary of the GMT-Master. This iconic model, created in 1955 to accompany airline pilots in the golden age of aviation, is now a symbol of elegance and functionality.
Ahead of this event, we analyzed the performance of two of the most iconic models in the collection: the Pepsi and the Batgirl.
Secondary Market Performance
Over the past year, Pepsi has seen a significant decline, down -12.11%. Influencing this dynamic was the sharp rise in price that occurred exactly one year ago, fueled by rumors of a possible exit from production. However, Rolex chose to keep the model in the catalog, leading to a gradual decline in value. Initially, the decline was steady, but it accelerated more sharply around October 2024. Since then, the price has stabilized at just above €19,000.
The Batgirl, on the other hand, has been one of the few Rolexes to show a positive performance over the past year, rising +5.39%. The trend saw a sharp surge in early 2024, followed by a stabilization around €17,000 until October. Thereafter, the value declined slightly, settling around €15,000.
Cumulated Listings
Thanks to our database, we can analyze all the listings posted on major marketplaces. During the examined period, we observed a significant increase in the number of models listed for sale.
For both models, the month of May 2024 marked a phase of stagnation in new listings, followed by strong growth between June and July, with a subsequent decline in August. After the summer, the number of listings resumed steady growth.
Listings and Sold
To better understand the dynamics of the market, it is useful to analyze how many watches are put up for sale each month and how many are actually sold. A particularly interesting case occurred in July, as we have also seen in previous graphs.
During that period, not only did listings increase, but sales also soared, doubling compared to June 2024 and reaching the highest level among the months surveyed. This phenomenon was reflected in rising prices in the secondary market, as can be seen in the first two slides.
In recent months, especially in 2025, sales volume has fallen sharply, particularly for Pepsi. Batgirl, on the other hand, continues to see a few more transactions, but the numbers remain far from the levels of the beginning of the year.
Final Thoughts
Analysis of the GMT-Master II market, with a focus on the Pepsi and Batgirl, clearly shows how speculation, expectations about Rolex novelties, and fluctuations in supply and demand affect the value of these models. Pepsi, after the euphoria of 2024, has undergone a major correction, while Batgirl has shown more stability. Anticipation for Watches & Wonders 2025 and the possible release of new references for the 70th anniversary of the GMT-Master could lead to new changes in the market. In the coming months, it will be crucial to monitor price and sales developments to understand whether there will be further corrections or new growth in interest in these iconic models.
Of more interest would be the listed price vs the actual price achieved.