The Rolex Pepsi is the prototype of the modern GMT watch. Its red and blue bezel is iconic, and the watch has become a true status symbol. However, the Black Bay GMT made by Rolex subsidiary Tudor is increasingly competing with the original. We take a closer look at both models and go over all the facts and figures. What’s special about the models, and how do they differ?
Don’t Judge a Watch by Its Bezel
The red and blue bezel with its 24-hour scale was a true stroke of genius on the part of the Geneva-based luxury watchmaker Rolex. The two-tone rotating bezel not only became the trademark of the GMT-Master, it also set the standard for all GMT watches that came after it. The color combination, which earned the watch the nickname “Pepsi,” also brings a breath of fresh air to the wrist without being conspicuous. Rolex now offers the GMT-Master with bezels in a variety of color combinations. However, red and blue remain the “true” GMT bezel hues. It’s no coincidence that almost every other manufacturer in the industry offers a watch with a blue and red bezel. Let’s first turn to the history of the iconic two-tone bezel and then take a closer look at the descendants of the original GMT Pepsi.
Background of the Blue & Red Bezel
The history of the GMT-Master will be familiar to many of you. If not, here’s a brief sketch: The early 1950s ushered in the age of intercontinental air travel. As a result, time zones suddenly became important, especially for airline pilots who needed to keep track of both their home time and the time at their destination. That’s why Pan American Airways – better known as Pan Am, one of the largest airlines of the time – tasked Rolex with developing a wristwatch that could display two time zones simultaneously and be as easy to read as possible. The result was the GMT-Master, first presented in 1954. The iconic 24-hour blue and red bezel was a tribute to Pan Am, whose original logo was blue and red.
The innovative color concept quickly caught on and made the watch a symbol for cosmopolitans and frequent flyers – even though this market seemed to be cornered by established pilot’s watches such as the Breitling Navitimer in its many versions. It should also be mentioned that the GMT-Master was not the first watch with a GMT function. That honor goes to the Swiss watch manufacturer Glycine and its Airman, a wristwatch with a second time zone that was released two years before the GMT-Master. Rolex has since offered numerous color variants of the GMT bezel, like the brown and beige “Rootbeer,” the black and red “Coke” of the first GMT-Master II, and the all-black version of the first GMT-Master II with a ceramic bezel. More recent variants include the black and blue “Batman,” the black and green “Sprite,” and the black and gray “Bruce Wayne.”
The “Pepsi Effect”
Despite all the colors available, the red and blue Pepsi bezel remains the classic among GMT watches. So it was to great excitement that Rolex finally launched the ultra-modern and advanced stainless steel version of the GMT-Master II Pepsi with a Jubilee bracelet (ref. 126710BLRO) in 2018. The phone lines were jammed and everyone seemed to want one of the new Pepsi watches with the old look. After all, the ref. 126710BLRO is a reissue of one of the most legendary Rolex watches ever. But how did this affect the rest of the watchmaking cosmos?
In addition to various smaller manufacturers who launched their homage to the Rolex Pepsi and targeted customers in the lower price segment, established manufacturers also launched luxury watches with blue and red bezels. First and foremost, TAG Heuer with the Aquaracer GMT ref. WAY201F.BA0927. Tudor also launched the Black Bay GMT ref. 79830RB as a counterpart to the first GMT watch from Rolex.
Rolex Pepsi vs. Tudor Black Bay GMT
A frequent question is whether the high prices for a Rolex with a blue and red bezel are justified, or whether the cheaper counterpart from subsidiary Tudor will do. So we want to take a closer look at the Rolex Pepsi and Tudor Black Bay GMT and compare them.
| Model | Rolex GMT-Master II (Ref. 126710BLRO) | Tudor Black Bay GMT (Ref. 79830RB) |
| Material | 904L Oystersteel | 316L stainless steel |
| Band | Oyster (or Jubilee) | Oyster (also leather and textile) |
| Produced since | 2018 | 2018 |
| Bezel | Cerachrom | Aluminum |
| GMT hand | Red | Red |
| Diameter | 40 mm | 41 mm |
| Thickness | 12.1 mm | 14.8 mm |
| Weight | 142 grams | 186 grams |
| Water resistance | 100 m (328 ft, 10 bar) | 200 m (656 ft, 20 bar) |
| Case back | Screw-down | Screw-down |
| Crown protection | Yes | No |
| Caliber | 3285 (automatic in-house) | MT5652 (automatic in-house) |
| Features | GMT, date | GMT, date |
| Power reserve | approx. 70 hours | approx. 70 hours |
| COSC-certified | Yes | Yes |
| MSRP (November 2024) | $11,785 (Jubilee) / $11,570 (Oyster) | $4,620 EUR (Oyster) / $4,280 (Textile) |
| Waiting list | Yes | Yes |
| Manufacturer’s guarantee | 5 years | 5 years (since January 1, 2020) |
| Used price | Starting at $20,000 | Starting at $3,000 |
Is the Tudor “Pepsi” worth the money?
Should the Tudor Pepsi be compared to the Rolex Pepsi? The answer is yes. Comparing the two watches, it’s clear that the Tudor can easily keep up with the Rolex GMT-Master, as evidenced by its technical specifications: a 70-hour power reserve, a higher water resistance of 200 meters (20 bar, 656 feet), and an in-house movement certified as a chronometer. The Tudor is even ahead of Rolex in some respects (like water resistance). Furthermore, the Tudor cannot be considered a copy because both watches were introduced almost simultaneously. Tudor can also use the popular bezel color combination because of its corporate affiliation with Rolex. This is in no way meant to belittle the Rolex Pepsi, but rather to show how well the Tudor compares to its Rolex counterpart. This makes the Tudor Black Bay GMT an excellent entry point into the world of luxury watches, and also offers an alternative for all those who would be heartbroken by a scratch on the case of their Rolex. In this respect, the Black Bay GMT by Tudor manages to keep up with the seemingly overpowering Rolex Pepsi and should definitely be considered, especially for luxury watches in the mid-price segment. You can also expect a significantly shorter waiting time when buying a Black Bay GMT.
Tudor or Rolex: Which model is better?
Of course, a Rolex is usually a good investment. The GMT-Master II ref. 126710BLRO is also the original, with 70 years of history. But the Tudor also has its advantages and can score points in terms of technology, availability, and cost. Thanks to its close corporate ties, the Black Bay GMT 7980RB manages to capture the charm of the early GMT-Master and even improve on it in some respects. A chronometer-certified in-house movement, the same set of complications, greater water resistance, and a fraction of the purchase price of the iconic ref. 126710BLRO, just for doing away with the crown on the dial? That should definitely be taken into consideration when buying a GMT Pepsi. Basically, there are no rational arguments against buying the Tudor model. On the contrary: Far from being a “poor man’s Rolex,” the Black Bay GMT can do everything the Rolex can do, and – although some people don’t want to hear it – more! Aside from the price tag, the biggest difference between these two top GMT watches is probably the fact that Rolex strives to evolve and give the classic GMT watch something elegant through its overall appearance. Meanwhile, as a heritage model, the Tudor follows in the footsteps of the first GMT-Master and therefore has a more robust, tool watch character. So, as always, it comes down to personal taste and how you want to use your GMT watch. Obviously, a Tudor is a Tudor, not a Rolex. But you have to admit: If any GMT watch with a Pepsi bezel can come close to the feel of a Rolex ref. 126710BLRO, it’s undoubtedly the Black Bay GMT.
