The History of the Rolex GMT-Master II “Coke” Bezel

The Rolex “Coke” isn’t a nickname Rolex came up with—it’s what collectors call the red and black bezel variant of the GMT-Master II, introduced in the early 1980s. Its color combo reminded people of the classic Coca-Cola label, and the name stuck.

First appearing on the reference 16760 in 1983, the Coke bezel marked a turning point for the GMT line. It was the debut of the GMT-Master II, which added independent hour hand functionality—a game changer for pilots and travelers tracking multiple time zones.

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Key Features of the Rolex Coke

Here’s what separates the Coke from other GMT variants like the Pepsi (red and blue) or the Batman (black and blue):

• Red and Black Aluminum Bezel Insert
  • Unique to the Coke. Rolex has never made a ceramic Coke bezel, so all examples feature the warm, fade-prone aluminum collectors love.
• Reference 16760 “Fat Lady”
  • The first GMT-Master II and first to feature the Coke bezel. Nicknamed “Fat Lady” due to its thicker case, it also introduced the sapphire crystal and Caliber 3085 movement.
• Subsequent Coke References
  • Ref. 16710 continued the Coke bezel through the early 2000s, using the slimmer case and Caliber 3185, then 3186.
• Discontinued, Not Forgotten
  • Rolex has yet to bring back the Coke bezel in modern ceramic, making the vintage and early 2000s aluminum models highly sought after.

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Why Collectors Love the Coke

There’s a subtle boldness to the Coke bezel. It’s not as loud as the Pepsi, but it pops more than the all-black. The red-and-black combo has a sharp, sporty vibe that feels slightly under-the-radar compared to other GMTs.

Collectors love it for a few reasons:

• It’s no longer produced – no ceramic Coke yet
• The red fades beautifully – some go crimson, others almost pink
• It bridges eras – you get modern functionality with vintage charm

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Coke vs. Pepsi vs. Batman: What’s the Difference?

If you like warm tones and want a piece that won’t blend in with every other modern GMT, the Coke is probably your move.

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Current Market for the Rolex Coke

Prices for clean Rolex Coke models (especially with original papers or tritium dials) are holding strong. Expect to pay:

• Ref. 16760: $12,000–$16,000 depending on condition and originality
• Ref. 16710 Coke: $10,000–$14,000 for full set examples
• Models with faded bezels, unpolished cases, or original stickers can command even more.

These aren’t watches you can walk into an AD and ask for—they’re long gone from new production, which only adds to their appeal.

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Final Thoughts: Why the Coke Still Hits

If you're building a vintage Rolex collection or looking for a daily wear GMT with character, the Coke is tough to beat. It’s got history, practicality, and just enough color to stand out without shouting.

And if you're the kind of person who wants a watch with some soul—a little warmth, a little wear, and a lot of story—the Coke belongs in the conversation.

Check out the Coke models we have in stock here.