The Rolex Pepsi: Rugged Examples That Honour the DNA of the GMT Series

Few timepieces boast the iconic status of the Rolex GMT-Master, a watch synonymous with precision and rugged functionality. Among the various iterations of this legendary series, one of the most distinguished variants is the blue and red bezel, affectionately dubbed the “Pepsi” by Rolex enthusiasts. The GMT-Master series was initially designed in the 1950s for professional pilots, allowing them to track two time zones simultaneously. This distinctive feature was born out of a collaboration with Pan American Airways, marking the start of Rolex’s dedication to creating watches that meet specific, functional needs.

The Pepsi bezel, a signature of this series, embodies both style and purpose, blending the vibrant blue and red colors with the highly practical rotating bezel for time zone tracking. As with all Rolex Professional models, the GMT-Master’s design has always prioritized durability and reliability, hallmarks that resonate deeply within the collecting community. When a vintage Rolex Pepsi watch with fascinating provenance and a storied history appears at auction, collectors are eager to honor the DNA of the Rolex brand, recognizing the model's timeless appeal. This article explores four exceptional Rolex Pepsi examples that encapsulate the rugged elegance of the GMT series.

Rolex Pepsi watch — Rolex GMT Master Reference 1675

Rolex GMT Master Reference 1675 Circa 1960, 500,000 HKD

This Rolex GMT Master Reference 1675 was sold for 500,000 HKD in April 2018.

This rare iteration of the Pepsi model features a tropical gilt dial, a feature that has made it highly coveted among collectors. Its 39mm case houses the reliable Caliber 1560 automatic movement, offering precision and dependability. The dial itself, once black, has naturally aged over time, transforming into a rich, tropical brown. This transformation, a result of exposure to light, gives the watch a unique patina, further accentuated by the gilt chapter ring and luminous hands. The red arrow hand, which points to the second time zone, complements the watch's overall design, with the magnified date aperture adding further functionality.

Produced between 1959 and 1963, the Reference 1675 is known for its early models, which featured pointed crown guards—a design feature that was eventually phased out, increasing the watch’s desirability among collectors. The watch retains its original Oyster case and rotating 24-hour bezel, paired with a practical brown leather strap, enhancing both its rugged appeal and vintage authenticity. The rare tropical dial and distinctive design elements contributed to the strong reception this watch received at auction.

Rolex GMT Master Pepsi watch — Rolex GMT Master Pepsi Reference 6542

Rolex GMT Master Pepsi Reference 6542 Circa 1958, 177,800 CHF

This Rolex GMT Master Pepsi Reference 6542 was sold for 177,800 CHF in May 2023.

Introduced in 1954 and produced until 1959, the Reference 6542 was the original model designed in collaboration with Pan American Airways, specifically for their pilots. It features a 38mm stainless steel case, and while the early versions of this model were fitted with a fragile Bakelite bezel, they were later replaced by more durable aluminum bezels. The Reference 6542 was also subject to an interesting piece of history—these watches were recalled by the Atomic Energy Commission in the United States due to excessive radiation levels from the radium lume used at the time.

This particular Rolex Pepsi Reference 6542 boasts unique provenance, having originally been owned by Captain Clarence Jooj Warren Jr. of Pan American Airways. Captain Warren, a notable figure in aviation history, was frequently called upon by the White House and entrusted with the safety of prominent figures, including Vice President Nixon in 1959. The watch even appeared in the famous 1959 Pan Am "Flies on Rolex Time" advertisement, further cementing its historical significance. Powered by the Caliber 1036 movement, the watch’s gilt dial with radium lume and lack of crown guards make it a highly collectible piece.

Rolex GMT Pepsi — Rolex GMT Master Reference 6542

Rolex GMT Master Reference 6542 Circa 1956, 62,500 USD

This Rolex GMT Master Reference 6542 was sold for 62,500 USD in December 2014.

The 6542 model is particularly coveted due to its Bakelite bezel, a feature that makes it one of the rarest and most desirable Rolex Pepsi watches. The 36mm stainless steel case is paired with a stunning black tropical dial, enhanced by gilt outer minute tracks and bold lettering. The red arrow hand indicates the second time zone, maintaining the model’s practical design features. The Bakelite bezel, while prone to damage due to the material’s fragility, remains in excellent condition on this watch, adding to its collector’s appeal.

As with other early Rolex Pepsi models, the dial has aged beautifully, taking on a dark brown hue that enhances the gilt lettering. The watch’s well-preserved steel bezel features clearly defined teeth, adding to the vintage charm and increasing its value among collectors.

Rolex GMT Master Reference 1675 "Exclamation Point" Circa 1958

This unique Rolex GMT Master Reference 1675, sold at a 2020 Sotheby’s Watches auction in New York, is one of only 35 Rolex examples featured in the sale.

This particular watch stands out due to its rare "Exclamation Point" dial, a feature added to early 1675 models to denote that the watch met new atomic energy regulations regarding radiation levels. The "Exclamation Point" dial consists of a luminous dot located beneath the 6 o'clock marker, an innovation Rolex introduced to indicate that the radium lume levels had been reduced to meet safety standards. This rare and highly sought-after model, produced in 1958, exemplifies the exceptional craftsmanship and historical significance of early Rolex Pepsi models.

The Rolex Pepsi models, particularly the vintage iterations like the Reference 1675 and 6542, are not only remarkable for their iconic design but also for their rich history and connection to the aviation industry. These watches have transcended their functional origins to become timeless collector's pieces, celebrated for both their rugged durability and their distinctive, colorful bezel. When such watches come to auction, they offer a rare glimpse into the past, providing collectors with an opportunity to own a piece of Rolex’s storied legacy. Each of these exceptional pieces, with their unique provenance and historical significance, stands as a testament to the enduring appeal of the Rolex GMT Master series.

Advantages to Buying Rolex Watches on the Secondary Market

1. Access

Sotheby’s provides exclusive access to a curated selection of Rolex watches from its long established global network of sellers. As a leading marketplace, Sotheby's offers sought-after Rolex watches, from iconic classics to rare, collectible editions. Our watch specialists are dedicated to sourcing the most desirable Rolex models from collectors around the world.

2. Flexibility

Sotheby’s offers multiple ways to purchase Rolex watches, including online and in person at our locations in New York, Hong Kong, Zurich, Paris, and London. We also provide a concierge service to help source specific Rolex models not available online.

3. Value

While authorized Rolex boutiques offer their latest collections, finding specific models—especially those with strong collector demand—can be challenging due to availability constraints. Sotheby’s presents a curated selection of Rolex watches, including rare and discontinued references, available for purchase without the need to visit multiple retailers. Shopping with Sotheby’s ensures access to exceptional Rolex timepieces, from vintage icons to modern grail watches, all authenticated by experts.

4. Discovery

One of the greatest advantages of shopping in a global luxury marketplace is the chance to discover unique, limited-production Rolex watches no longer available at retail. Our curated selection of Rolex watches is continuously refreshed, ensuring that you’ll always find something new and exclusive.

Buy and Sell Your Rolex GMT Master Watch with Sotheby's

Sotheby’s offers a curated selection of the finest Rolex watches available for immediate purchase, as well as through auctions held in New York, Paris, Zurich, and Hong Kong. Expect to find rare and collectible Rolex models in every sale, including iconic pieces like the Daytona, GMT-Master, Submariner, and more in exceptional condition. Sotheby’s auctions feature an array of Rolex timepieces, ranging from elegant vintage models to contemporary masterpieces, showcasing the brand’s unmatched craftsmanship and innovation.

Prices for Rolex watches start around $10,000 for simpler models like the Datejust and rise significantly for highly sought-after pieces. Iconic models such as the Day-Date and Daytona often command starting prices of $50,000, while rare collectible editions can exceed $200,000.

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