The New Grey & Black Rolex GMT-Master II Stainless Steel

The quest to acquire a new Rolex Pepsi GMT-Master II was a personal obsession. The Rolex ref. 1675 GMT-Master was pivotal in sparking my appreciation for modern watches. I vividly recall the moment I held my first 1675 – it was at the RRL store in SoHo. The replica watch was handed to me casually, but to me, it felt like I was holding the most valuable watch in the world, surrounded by vintage jewelry and antiques. That singular experience ignited a passion.

Earlier this year, a friend introduced me to Federico Verga, whose family has been in the watch retail business in Milan for generations. As we discussed the current offerings of major watch brands, he asked me what I would buy right now. Even though I had secured my Pepsi GMT last year, my instinctive response was the left-handed GMT-Master II from a couple of years ago. While it might seem redundant to own two variations of the same watch, the idea of collecting different iterations of the GMT-Master II has always fascinated me. Among the most alluring is the white gold GMT-Master II with a meteorite dial. I’m far from someone who would dismiss another GMT-Master variation as dull or unnecessary. And here’s why.

If you haven’t already noticed, the new Rolex ref. 126710GRNR (which stands for “Gris Noir,” referring to its grey and black bezel) is the only stainless steel release from Rolex at Watches & Wonders 2025. While this may not be as dramatic as Patek Philippe’s decision to discontinue the stainless steel Nautilus, it still marks an unusual move for Rolex. The launch is different from last year’s Rolex surprises, which featured the playful “Celebration” and “Puzzle” dials. Clone Rolex emphasized that those designs were more about having fun rather than setting a long-term trend. So while the grey and black GMT isn’t revolutionary, it certainly embodies classic Rolex craftsmanship in a familiar and reassuring way.

The new GRNR doesn’t stray far from the existing 126710 lineup. It features the same 40mm stainless steel case with a thickness of 12mm and is available with either a Jubilee or Oyster bracelet. Powered by the caliber 3285 movement, it boasts a 70-hour power reserve and an independent jumping hour hand – ideal for frequent travelers hopping between time zones.

The most notable difference is the subtle grey-to-black gradient on the Cerachrom bezel. Additionally, the text on the dial and the 24-hour hand now appear in a bold green hue, adding a touch of vibrancy to an otherwise understated design. While these may seem like minor tweaks, they provide more options for those looking for something fresh. Personally, I’ve always loved the Pepsi’s iconic color scheme, dating back to the original Rolex ref. 6542. However, as someone with a more restrained sense of style, I sometimes find the red accents a bit too bold. The Batman version, with its blue and black bezel, can also feel a bit flashy at times.

Not everyone wants a watch that draws attention. Up until now, the only modern Rolex GMT for the understated watch lover was the long-discontinued ref. 116710LN, which had a monochrome bezel. Although I didn’t care much for the entirely black bezel, it did serve its purpose in certain environments, especially when I worked as a photojournalist in places where I preferred to avoid drawing attention to myself. Yet, that doesn’t mean you have to forgo a stylish watch for your travels.

The green “GMT-MASTER II” text and matching green hand add a splash of color to the new GRNR, complementing the gradient bezel nicely. I’m curious if anyone actually uses the bezel’s day/night indicator for quick reference. If you do, let me know! Still, this feature helps preserve the watch’s connection to the original GMT models, where the bezel was essential for tracking different time zones.

Some had speculated that Rolex would release a “Coke” (black and red) bezel this year. While I’m personally a fan of full-sugar Coke, I never found the color combination appealing on a watch. Contrary to rumors, Rolex did not discontinue the iconic Pepsi model. In fact, there were whispers over the past six to nine months that Rolex had slowed Pepsi production due to issues with manufacturing the Cerachrom bezel – a problem that has existed since the bezel’s introduction. Perhaps now it’s clearer that Rolex was preparing for this new release.

One delightful surprise is that the GRNR is available with both the Jubilee and Oyster bracelets. Better yet, you can now purchase the alternate bracelet if you already own the watch – no need to rely on a friendly Authorized Dealer (AD) and a good story to get one. While it’s unclear if this policy applies to all steel GMT-Master IIs (I’ve asked, but haven’t received a definitive answer), it’s certainly a welcome option.

Whether you’re a replica Rolex GMT-Master enthusiast like me, intent on collecting them all, or just waiting for a more understated steel GMT, the new 126710GRNR is priced at $10,700 with the Oyster bracelet, and $10,900 with the Jubilee. Here’s hoping that the supply of steel GMTs continues to increase – whether you prefer the Pepsi, Sprite, Batman, or whatever the GRNR ends up being called.