Discontinued Rolex Models Worth Buying in 2026
Last updated: September 2026
Two major Rolex references have been removed from Rolex.com around Watches and Wonders 2026: the GMT-Master II "Pepsi" and the white gold "Cookie Monster" Submariner. That's how Rolex discontinuations work — no announcement, the watch just disappears from the catalog. There are also several 2025 discontinuations still flying under the radar. Here's what's worth paying attention to.
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The Pepsi GMT-Master II (Ref. 126710BLRO)
The ref. 126710BLRO has been removed from Rolex.com. After eight years in production, that's how we know it's done, and Morgan Stanley's 2Q26 note on the secondary market lists it as discontinued. Dealers had stopped receiving new units in the weeks leading up to the show.
The secondary market moved before the news did. Here's where things stood in late March 2026, and what happened in the quarter after the show:
| Metric | Value |
|---|---|
| Final US retail (post-Jan 2026 increase) | $11,800 (Oyster bracelet) / $12,000 (Jubilee) |
| Secondary market, Jan 2026 | ~$24,000 |
| Secondary market, late Mar 2026 | $26,000+ |
| Unworn asking prices | $30,000–$45,000 |
| Chrono24 demand surge (early Mar) | +500% vs. 2025 average (DMARGE) |
| Price change, 2Q26 (April-June) | -2.3% (Morgan Stanley / WatchCharts) |
| Last value retention before discontinuation | About +85% vs. retail (Morgan Stanley / WatchCharts) |
The expected replacement? A "Coke" GMT-Master II with a red-and-black ceramic bezel. Rolex has patented the technology for it. If history repeats, the Coke would debut in white gold first and move to steel a few years later, the same path the Pepsi took starting in 2014.
The "Cookie Monster" Submariner (Ref. 126619LB)
The Submariner Date ref. 126619LB — the white gold case with blue ceramic bezel and black dial — is also off Rolex.com. Collectors nicknamed it "Cookie Monster" for the blue-and-black colorway. Retail was around $41,800 before the 2026 price increases.
This one's a bigger deal than most people realize. White gold Subs have always been rare on the secondary market, and the 126619LB has only been in production since 2020. Supply was already thin, and with production ending it is now fixed. Unworn examples with complete sets are the ones to look for.
What Rolex Discontinued in 2025
At Watches and Wonders 2025, Rolex dropped more references than usual. The most notable:
| Model | Ref. | Why It Matters |
|---|---|---|
| Celebration Dial Oyster Perpetuals | 124300, 126000, 277200 | Already commanded high premiums when in production. Supply is now fixed. |
| Yacht-Master 42 "Falcon's Eye" | 226659 | Only ~3 years in production. Semi-precious quartz dial. Retail was ~$40,000; now trades $50,000–$55,000. |
| White Gold Turquoise Day-Date | 128239 | Running 20-30% above the ~$55,000 retail already. |
| Diamond-Set Day-Date 36 variants | 128238, 128239, 128235 | Several fluted bezel + diamond bracelet combos retired. |
| Datejust 31 Floral Motif dials | 278241, 278271, etc. | Niche, but floral dials tend to develop a collector following. |
| Oyster Perpetual metallic sunray dials | 124200, 124300, etc. | Replaced by matte lacquered finishes. The old finish is now the "original." |
Rolex also replaced the Oyster Perpetual 41 ref. 124300 with the new ref. 134300. The outgoing reference is now a previous-generation piece.
What Happens When Rolex Discontinues a Model
The pattern is consistent. When a Rolex sport model gets dropped, three things happen:
- Dealers sell through remaining inventory fast. Authorized dealers who still have units move them quickly, often to existing waitlist clients. The retail window closes within weeks.
- Secondary prices often move before the news. The Pepsi ran up in the first quarter of 2026 on discontinuation reports, then fell 2.3% in the second quarter, per Morgan Stanley and WatchCharts, because buyers had front-run the discontinuation.
- The replacement creates a comparison market. Collectors split into camps: those who want the new version and those who specifically want the discontinued one. Both references benefit.
Recent examples:
- Submariner "Hulk" (ref. 116610LV), discontinued 2020: values climbed 10-15% post-discontinuation and kept rising as supply thinned.
- GMT-Master II "Batman" on Oyster bracelet (ref. 116710BLNR): saw significant premiums after Rolex switched the Batman to a Jubilee bracelet. The Oyster version became a collector piece.
- Daytona ref. 116520: predecessor to the current ceramic bezel Daytona. Prices rose steadily after discontinuation and haven't stopped.
Not every discontinued Rolex turns into gold. Routine dial changes and minor material swaps rarely move the needle much. The references that appreciate most tend to have a distinctive visual identity: a unique bezel color, an unusual dial material, or a design element that the replacement model doesn't carry forward.
Which Ones Are Worth Buying Now
We're not going to tell you what to do with your money. But if we were shopping the discontinued market right now, here's where we'd look:
Pepsi GMT (ref. 126710BLRO) is the obvious one. The discontinuation is confirmed, and the run-up came before it: Morgan Stanley and WatchCharts' 2Q26 report has Pepsi prices down 2.3% in the second quarter because buyers had bought ahead of the news. The Pepsi has an iconic colorway that's been in the GMT lineup since 1955. If Rolex replaces it with a Coke, the blue-and-red bezel becomes a closed chapter.
Falcon's Eye Yacht-Master (ref. 226659) is interesting because of the short production run. Three years is nothing for Rolex. The semi-precious dial is unlike anything else in the current catalog, and at $50,000-$55,000 on the secondary market, it's already trading above retail but hasn't gone parabolic.
Celebration Dial Oyster Perpetuals were the hottest OP references Rolex made. They carried premiums at retail and now supply is capped. If you find one at a reasonable price, it's not a bad hold.
Turquoise Day-Date (ref. 128239) has the combination of white gold, a standout dial color, and the discontinuation backstory. It was trading 20-30% above retail as of March 2026.
Sources: Pepsi discontinuation, its 2.3% second-quarter price change and its roughly 85% last value retention (an average across five markets): Morgan Stanley / WatchCharts 2Q26 note, "Swiss Watches: Secondary Market Keeps Ticking Higher in 2Q26" (July 16, 2026), prices as of June 29, 2026. Pepsi final US retail: rolex.com (archived January 28, 2026) for the Oyster bracelet and US authorized-dealer listings for the Jubilee. Other pricing data reflects secondary market listings as of March 2026 via Chrono24 and WatchCharts. Actual prices vary by condition, box and papers, and dealer. Rolex does not publicly announce discontinuations; status information is based on authorized dealer reports and industry sources. This is not financial advice. Past price performance of discontinued references does not guarantee future results.
Related Reading
- Watches and Wonders 2026: What to Watch For
- Rolex Price Increases 2026: January and June Updates
- Is Rolex a Good Investment? A Dealer's Honest Take (2026)
Frequently Asked Questions
Is the Rolex Pepsi GMT discontinued?
Yes. The ref. 126710BLRO has been removed from Rolex.com. That's how Rolex discontinuations work — no announcement, the watch just disappears from the catalog. Dealers had also stopped receiving new units in the weeks before Watches and Wonders 2026, and Morgan Stanley's 2Q26 note lists the reference as discontinued.
Do discontinued Rolex watches go up in value?
Sport models with distinctive designs tend to appreciate after discontinuation. The Submariner "Hulk" rose 10-15% immediately and kept climbing. It isn't automatic: Morgan Stanley and WatchCharts report Pepsi prices fell 2.3% in the quarter it was discontinued, because buyers had bought ahead of it. Also, routine dial or material swaps rarely move prices significantly. The key factor is whether the replacement carries forward the same visual identity.
What Rolex models were discontinued in 2025?
Notable 2025 discontinuations include the Celebration Dial Oyster Perpetuals, the Yacht-Master 42 "Falcon's Eye" (ref. 226659), the White Gold Turquoise Day-Date (ref. 128239), several diamond-set Day-Date 36 variants, and the Datejust 31 floral motif dials.
How much is the Rolex Pepsi GMT worth right now?
Pepsi prices fell 2.3% in the second quarter of 2026, per Morgan Stanley and WatchCharts (prices as of June 29, 2026), after a run-up to around $26,000+ at dealer median in late March. Its last value retention before discontinuation was around 85% above retail. We list a steel Pepsi on the Oyster bracelet at $30,000 as of September 18, 2026. Final US retail was $11,800 on the Oyster bracelet and $12,000 on Jubilee.
What Rolex might replace the Pepsi GMT?
Industry speculation centers on a "Coke" GMT-Master II with a red-and-black ceramic bezel. Rolex has patented the manufacturing technology for it. If it follows the Pepsi's rollout pattern, the Coke would debut in white gold first, with a steel version arriving years later.