The reference 16710 is the second-generation GMT-Master II, and it is the watch most people picture when they hear "Pepsi." It ran from 1989 to 2007, uses a 40 mm case, and wears an aluminum bezel insert split into blue and red. If you are shopping for one, judge it on four criteria: the insert and its printing, the case and lug profile for its production year, the dial and hand set that match that year, and the movement inside. Everything below is about genuine watches, because the 16710 is one of the most counterfeited references in the catalog and a large share of "deals" are not what they claim to be.
What the 16710 Pepsi Actually Is
The 16710 replaced the 16760 and stayed in production for roughly eighteen years, which is why so many examples exist and why condition varies so widely. The case measures 40 mm, the crystal is sapphire, and the watch runs on an automatic movement with an independently adjustable 24-hour hand. Rolex discontinued the reference in 2007 when the ceramic-bezel 116710 took its place. The Pepsi insert is blue and red, with the color split falling at the 6 and 18 positions.
Pepsi, Coke, or Black
- Pepsi: blue and red. The classic pairing and the one with the deepest collector interest.
- Coke: black and red. Less common on this reference and visually quieter.
- Black: a single color. The most understated option and often the most affordable.
Inserts on the 16710 are user swappable with a case knife, so a watch sold today as a Pepsi may have spent most of its life with a black insert. That is normal for the reference. It also means the insert tells you almost nothing about whether the rest of the watch is original, so treat it as a styling choice rather than a provenance document.
Era Differences Inside the Run
An eighteen-year run produces real variation. Early watches have drilled lugs, where the spring bar holes pass through the case sides. Later production moved to solid lugs. Luminous material changed as well, from tritium to later compounds, and the small signature at the bottom of the dial changed with it. Most 16710s carry the cal. 3185, with the final years moving to the cal. 3186. Two watches from opposite ends of the run can look nearly identical in a photo and behave differently on a timegrapher.
How to Tell a Genuine 16710 From a Counterfeit
Insert and dial printing
Genuine aluminum inserts have a matte finish, a clean metal edge, and crisp numerals. Counterfeit inserts usually show thicker, softer print and a glossier surface. On the dial, check the coronet shape, the spacing of the text, and the lume plots, which should sit in sharp, evenly sized surrounds.
Case, lugs, and bracelet
Look at the crown guards. Genuine guards are asymmetric and have a defined bevel that catches light along a straight line. Bracelet end links should fit the case with no visible gap, and the clasp should carry correct stamping for the era. The reference number is stamped on the case between the lugs, not on the caseback.
Movement and feel
Setting the GMT hand, then the hour hand, then the date should each feel distinct and firm. A movement that skips, grinds, or refuses to set independently is a warning. Any serious purchase deserves an inspection by a watchmaker who handles vintage Rolex.
What to Weigh Before You Buy
- Pros: a compact 40 mm case that fits most wrists, inserts that are inexpensive to source and swap, and a long run that keeps examples available.
- Cons: heavy variation in condition and originality, service history that is hard to verify without paperwork, and a flood of replicas sold as genuine.
If you want a daily wearer, a later solid-lug example with a service insert is the practical pick. If you are collecting, chase an early drilled-lug watch with matching documentation and original lume. In both cases, buy the seller as much as the watch. A price that sits far below the rest of the market is the single most reliable sign that something is wrong.