The GMT-Master 2 is one of the ten most sought-after stainless steel luxury watches. In this respect, it is hardly surprising that the price development is skyrocketing. We explain where the hype for the model comes from, in which direction the prices are likely to develop and what opportunities are opening up for you.
Price development of the Rolex GMT-Master 2: Opportunities for old and new models
From the shadows into the limelight
For a long time, the GMT-Master from Rolex was considered the little sister of the Submariner. The five-digit references had small clasps, smaller crowns and appeared much more refined than the Submariner - which has always been considered the archetype of the perfect diver's watch. Even with the introduction of the six-digit references, this did not change at first. Ref. 116710LN, introduced in 2007, was available exclusively with a black bezel; the only highlights were a green GMT hand and green GMT Master II lettering on the dial.
It was only with charming and well-thought-out model details that the cosmopolitan wristwatch from the Geneva-based manufacturer came into the limelight. The positive price development of the Rolex GMT-Master 2 also began with this hype. After the iconic Pepsi models with blue-red bezel had not been produced since 2007, Rolex not only brought the first model highlight onto the market in 2013 with the blue-black Batman (Ref. 116710BLNR), but at the same time fuelled longings and rumours about a possible comeback of the Pepsi.
It was not until five years later - in 2018 - that the company finally presented the long-awaited Pepsi GMT-Master in stainless steel, the Ref. 126710BLRO. The model was also Rolex's first six-digit sports watch reference with a Jubilée strap. The hype was so great that the new Pepsi traded for 15,000 euros and more immediately after its release. The precious metal variants of the GMT-Master 2 have also become true highlights: Along with the stainless steel Pepsi, Rolex has introduced the GMT-Master in Everose gold - in both full gold and bicolour. The watches pick up on the earlier Rootbeer GMTs and are a colour highlight with history.
GMT-Master 2 price trend: Three times the list price
If you take a look at the Rolex GMT-Master 2 list price, you will see that the Batgirl and Pepsi with Oyster strap are available for 9,800 euros. With the Jubilée strap, the watches cost 10,000.00 euros each. Both models have been in high demand since their unveiling in 2019 (Batgirl, ref. 126710BLNR) and 2018 (Pepsi, ref. 126710BLRO) and have traded for prices that significantly exceed their respective Rolex GMT-Master 2 list prices since the very beginning.
Anyone familiar with Rolex will not be surprised that prices have risen almost continuously since then. While the blue-black and the blue-red GMT-Master 2 were available within the 15,000 to 20,000 euro corridor for quite a long time - but also became steadily more expensive there - the models have long since cracked the 20,000 euro mark and have settled near 25,000.00 euros (Batgirl) and 30,000 euros (Pepsi). The price development of the GMT-Master Batman (ref. 116710BLNR) also shows a similar trend; it lags slightly behind the price of the newer Batgirl. This price difference can probably be explained by the fact that the Batgirl is more up-to-date, has a more modern calibre, and unlike the Batman, is available with the delicate Jubilée strap.
Price trends in the coming years
If you look back just a few months or a year, these prices sound almost unbelievable, especially given that they have just risen sharply again at the beginning of 2022. It seems equally unbelievable that these prices, which are now so high, can rise even further. However, this is nothing more than a cognitive bias. When market prices rise continuously, we are always at their peak; it seems highly unlikely that prices will rise even further against the background of the ever-widening discrepancy between list and market price and the respective current record value.
In fact, it is more likely that the Rolex GMT-Master 2 price trend will continue on a steep course. All opportunities for price increases are taken - without a return to lower prices. In the big picture, you also have to take into account that cash investments are much less attractive than tangible assets. Rolex's price increases, which occur every one and a half years on average, continue to drive up the GMT-Master 2 list price and have an impact on market prices.
In addition, the supply-demand ratio should not lead to a cooling of the market. Rolex has already announced that it will not increase production figures, as this would result in a loss of quality. However, the comparatively low supply is matched by immense demand: The desire for luxury is greater than ever, even in times of economic crisis or the Corona pandemic.
Conclusion: Opportunities with old and new references
It's not just the new GMT Master references that offer opportunities for you - old references do too. Although the current models are currently at a high price level, it can be assumed that they will never be as cheap as they are today. Based on this probability alone, it may be worthwhile for you to grab them at market prices - especially if an opportunity to buy your dream watch at list prices is close to impossible.
However, the four- and five-digit references deserve no less attention: while vintage and neo-vintage models were more expensive than current references a few years ago, the tide has now turned. This does not only apply to references such as the 16710, which is elegantly up-to-date, especially with solid end links and without pierced horns. A Ref. 1675 can also fully convince with its vintage charm.
Whether it's the Pepsi, Batman, Batgirl or Hulk, our online shop offers a wide selection of GMT-Master 2 references, ready for immediate delivery. Always inspected for authenticity and quality by certified CHRONEXT watchmakers. 24-months CHRONEXT warranty included.Shop the Rolex GMT-Master II