Everything You Need To Know: The Rolex Cosmograph Daytona 116500LN
May 23, 2024 – A true icon in the luxury watch world, the Daytona was first launched by Rolex in 1963 as the Cosmograph, a name Rolex had been using since the early 1950s’. It didn’t get its official ‘Daytona’ name until two years later in 1965, a nod to the legendary North American racetrack, The Daytona International Speedway in Florida which was at the heart of a growing love of motor racing in the USA.
Amazingly the watch wasn’t so popular in the beginning, with little interest or love for it, there was a time when some watch traders were refusing to take them in part-exchange as they couldn’t sell them. It wasn’t until the 1980s that it truly began to be appreciated, and prices soared. The Daytona become one of the first Rolex watches that had its own waiting list. It has continued to be one of the hardest watches to buy from an official dealer.
The Daytona’s legend and story was massively helped by film star Paul Newman, who never raced without one on his wrist, his timepieces fetch millions in auction today. His reference 6239 Daytona, a watch he had given to his daughter’s boyfriend in the 1980s was sold at auction in 2017 for a staggering $17.75million, making it the most expensive watch sold at auction at that time.
Launched in 2016 with either a black or white dial, the Cosmograph Daytona 116500LN was the luxury watch enthusiasts had been waiting for, the first Daytona to feature the ceramic bezel, which has a tachymetric scale capable of measuring average speeds up to 400km or miles per hour. Even in 2016, most ordinary consumers were faced with at least a one-year wait list if they wanted to get their hands on one. This wait list has only got longer!
The 116500LN has its own army of celebrity fans, having been seen on the wrists of stars such as Tom Holland, Dave Chapelle, Kevin O’Leary, Kevin Durant and many more.
The 116500LN is powered by Rolex’s first in-house movement, the calibre 4130. The movement has only 201 moving parts, a 20% decrease on the previous, meaning better reliability less things to break and more room for a larger mainspring, giving it an impressive 72-hour power reserve. Not only is the Daytona 116500LN COSC Chronometer Certified, it also claims a Superlative Chronometer certification. This is Rolex’s in-house accreditation that ensures the movement is accurate to -2/+2 seconds per day.
The 1126500LN’s value has ALWAYS been higher than its retail price of less than $15k, rising to an eye-watering high of around $40k in 2022 before dropping to sit at around $30k in today’s grey market for the white dial ‘Panda’ and a couple of thousand cheaper for the black dial ‘Reverse Panda’.
Now discontinued, the 116500LN holds its place as THE quintessential modern-day Daytona, a true mastery of horological style and a modern retelling of an iconic timepiece.