If the word "Rolex" comes up in conversation, watch lovers immediately prick up their ears. After all, the Rolex manufacture, headquartered in Geneva, has been one of the hard core of big players on the watch market for decades, and many scene connoisseurs agree: Rolex watches belong in every good collection. In this article, we focus on the world-famous Rolex GMT-Master II and shed light on the price development of the timepiece in the past and in the future.
Rolex GMT-Master II - the "Original
The Rolex GMT-Master II is sometimes referred to as the "original" among GMT models. Despite a rapidly growing market and a huge number of competing products, there is hardly any GMT timepiece that can hold a candle to Rolex watches of this type. This is mainly due to the history of these particular luxury watches: The Rolex GMT-Master II was the first GMT watch to incorporate a two-piece and colored bezel.
Often compared to the Rolex Submariner diving watch and quite similar to the Rolex Explorer II in many ways, the GMT-Master II unquestionably stands for itself and embodies the dream watch par excellence for many a watch fan. Meanwhile, the watch with sapphire crystal and detailed dial is available in several different variants. For example, there are models with cases made of steel, white gold or Everose gold combined with an Oyster or Jubilee strap and a functional Oysterlock clasp - the selection is large!
At this point, we would like to briefly talk about the most popular GMT-Master references from Rolex. First and foremost are the "Pepsi" watches with bezel in red and blue (available in a new edition since 2018 under the reference 126710BLNR), closely followed by the "Coke" model with red and black bezel. Also in hot demand is the newer Rolex GMT-Master II "Batman" (Ref 116710LN) with Oyster bracelet and bezel in blue and black.
Important information about the movement
Whether it's stainless steel or pure gold on the outside, a caliber 3285 with a 48-hour power reserve is always ticking away at the heart of the Rolex GMT-Master II. Designed specifically for travelers, the high-quality movement allows you to keep track of three time zones simultaneously. The local time can be easily adjusted via the crown without having to stop the watch. This is an extremely practical complication, which will convince not only frequent travelers of the Rolex model.
Rolex GMT-Master II price development
For collectors and investors, of course, the development of GMT-Master II prices is of particular interest. After all, the price development gives information about the financial chances of a resale and in which direction the market could develop further.
Current price
As it goes without saying, it is hardly possible to name a flat market price for the Rolex GMT-Master II models. Prices vary from model to model, sometimes seriously, which is true not only for the list price, but especially for the market prices. While the list price for the stainless steel Rolex "Batgirl" and "Pepsi" models is just under €11,000, the Oyster Perpetual GMT-Master in 18-karat Everose gold is offered at a list price of around €40,000. Vast price differences that can by no means be transferred 1:1 to market prices. Despite inflation, a look at the market shows a significant increase in value, whereby Rolex GMT-Master II watches change hands for many times the list price.
Currently, for example, the Rolex model "Batgirl" with fine-linked band in Jubilee style is often available for prices around 25,000 €. The legendary "Pepsi" watch in a two-tone design tends to approach €30,000 in price. By comparison, the market price of "Batman" watches tends to be somewhat lower, settling between €20,000 and €23,000. In terms of market price, a price increase has hit all GMT-Master II models across the board. The high inflation rate of the recent past has only put a small damper on this price development, so that the Rolex GMT-Master II watches are still traded at comparatively high market prices.
Historical increase in value
Time to take a closer look at the price performance of Rolex watches in the past. On average, the value of Rolex GMT-Master II luxury watches increased by a whopping 231% between 1994 and 2016. In the course of inflation, the price growth, as already noted, slowed down a bit, but compared to similar competing products, Rolex timepieces managed to stay quite stable on the market even during this period.
Price development in the coming years
Of course, it is always difficult to realistically estimate the prices of the future. This is simply due to the fact that too many unpredictable factors affect the market price. Nevertheless, we would like to venture a cautious outlook into the future. Considering the price development of the Rolex GMT-Master II models over the past years and decades, there is clearly potential for value appreciation. Certainly, the chances are not the same for all Rolex references, but especially among the iconic models - such as "Pepsi" or "Coke" - there should be some luxury watches whose value is far from reaching its peak. This assumption is also supported by the regular price increase that Rolex makes in terms of list price every few years. This is because, in most cases, a higher list price has a somewhat direct effect on prices in the market and fires the price trend upwards.
Example - Rolex Pepsi price development
To delve a little deeper into the topic of price trends, let's take a look at how the price of the Rolex "Pepsi" has changed over the years as an example. The list price, which was once €9,000, was last raised to then €10,700 in early 2023. The Rolex watch with sapphire crystal and Oyster Perpetual case visibly gained in value on the market, but initially remained below the €20,000 mark. In the meantime, the prices then increased seriously, whereby one had to invest at least 30,000 € if one wanted to call a Rolex "Pepsi" his own. Now the prices have calmed down a bit, so that with a little luck you can get hold of a model at a price of 23,000 € to 25,000 €. But it is questionable how long this will last. It is quite likely that popular references - of which the "Pepsi" is clearly one - will experience a renewed price increase.
Resale value
The resale value of Rolex's GMT-Master II timepieces can be considered stable with a clear upward trend. Many references - whether in steel or white gold - have proven to be an absolutely worthwhile investment. However, investing in a watch is rarely a 100% "sure thing". No one can predict how values will develop in detail and at what price a watch will be offered for sale in the years to come. Investing in a luxury timepiece is therefore always to some extent a matter of the heart, which is associated with a certain risk that cannot be calculated down to the last detail.
Conclusion - List prices do not reflect market prices
The Rolex GMT-Master II watches are a good example of how the list price is not necessarily a reflection of the market price. While Rolex has increased the list price for GMT-Master II models from time to time, the increases in value that the watches have experienced in the marketplace have occurred at incomparably higher rates. This phenomenon - which was sometimes also seen with the Submariner Date - makes Rolex GMT-Master II watches a particularly attractive option for collectors and investors hoping for a lucrative resale in the years to come.