It’s possible I have a GMT problem. For years, the idea of somehow finding a way to get a new Rolex Pepsi GMT-Master II loomed large over my head. The Rolex ref. 1675 GMT-Master was a seminal experience in my appreciation of any watch more modern than a pocket watch from 1920. I remember where I was when I handled my first ref. 1675. It was at the RRL in SoHo and when they took the watch out of the case of other antiques, vintage jewelry, and other assorted watches, they handed it to me casually. Meanwhile I felt like I was handling the most valuable watch in the world. Since then, I’ve been hooked. Earlier this year, a friend introduced me to Federico Verga, who works his family’s long-running watch retailer in Milan. As we sat and chatted about the state of modern catalogs of the major brands, he asked me what, if anything, I’d buy right now. Despite getting my Pepsi last year, my gut response was the left-handed GMT-Master II from two years ago. To have two of my nicest watches be variations of the same thing seems silly. But it’s not the first I’ve thought about a superfluous GMT-Master. I’ve imagined having a whole suite of modern Rolex GMTs, with one of the coolest being the white gold GMT-Master II with a meteorite dial. I’m the last person inclined to tell you that another variation of a GMT-Master II is bad or boring. And I’ll tell you why I still feel like it’s anything but bad. You might be surprised to hear – if you haven’t realized already – that the new ref. 126710GRNR (Gris Noir for the grey and black bezel) is the only stainless steel Rolex release from Watches & Wonders 2024. While it’s not a full-on “Patek move” the way Thierry Stern ditched the stainless steel Nautilus, it’s certainly an unusual year for Rolex. It’s also unusual in a significantly different way than the surprises from Rolex last year. The brand told us that the shocking “Celebration” and “Puzzle” dials weren’t precedent-setting for future years, but rather a moment in time to have some fun. So while the grey/black isn’t earth shattering, it’s peak-Rolex in a comforting way. Everything about the new GRNR (for lack of a consensus nickname yet) is basically like every other 126710. The stainless steel case is 40mm by 12mm, and the watch comes with choice of Jubilee or Oyster bracelet. The watch is powered by a caliber 3285 with 70 hours of power reserve, and has the independent jumping hour hand to skip time zones when you travel from place to place. That means the main difference is that the Cerachrom bezel has a very subtle black and grey gradient, and the name of the watch on the dial – as well as the length of the 24-hour hand – is in a bold green hue. Sure, it’s just a few tweaks, and while I’m not saying it’s worth jumping up and down about, more options aren’t usually bad. I love the Pepsi as an iconic color combination, going all the way back to the amazing original Rolex ref. 6542. But as someone with a more reserved sense of style, I can find the red accents quite loud. Sure, I could have asked for a “Batman,” but then the blue is pretty bold, too. Not everyone wants a watch that calls attention to itself. But until now, the only modern watch that satisfied that kind of audience was the old, long-discontinued ref. 116710LN. I didn’t much care for the monotone bezel, but a lot of the places I worked as a photojournalist were not exactly places where I would have wanted to draw much attention to my watch. But it shouldn’t necessarily stop you from having a watch that can travel with you.

The nice carryover is the green “GMT-MASTER II” text and green hand, which gives a needed bit of color to an otherwise stark release, but the gradient bezel is the biggest improvement. I don’t know how often people actually lean on the day/night part of the bezel for quick reference – if you do, let me know – but at least it creates some contrast on the bezel that alludes the original GMTs. I mentioned in my intro that this isn’t the “Coke” (black and red) bezel that many people were expecting or hoping for. I wasn’t hoping for the Coke, personally. Despite being a full-octane “Coke heavy” beverage fan, I don’t love the color combo on the GMT. The launch of this new color also didn’t result in the discontinuation of the iconic Pepsi. That discontinuation was rumored for the last six to nine months when members of the watch community reported their ADs had seen less and less Pepsis delivered as the year went on. The rumors went from discontinuation to suggestions Rolex was struggling even to make bezels (which certainly was an issue that prevented the Cerachrom bezels from being Pepsi from day one). Maybe now the more obvious answer is that Rolex was slowing down for their new launch. Another surprise was the fact that not only does the new GRNR come on both Jubilee and Oyster bracelet, but if you have the watch on one bracelet, you can also buy the other. That was kind of a not-so-secret trick that I learned from a few friends the last few years: if you went to the right AD, they might be able to help you buy the other bracelet but in some instances you probably would have to have a creative story and jump through few hoops. While it’s not clear that the new policy extends to every Rolex GMT-Master II in steel (trust me, I asked and it’s still not clear), I’m hopeful. Whether you’re a bit nutty (like me) and look at a GMT-Master and think “gotta catch ’em all” or just have been waiting for a more reserved steel GMT, you can pick up the new 126710GRNR for $10,700 on Oyster bracelet, or $10,900 on Jubilee. Hopefully, the flow of steel GMTs starts picking up steam – Pepsi, Sprite, Batman, and whatever this ends up being called.