The Rolex Cosmograph Daytona 116500LN is the steel Daytona made from 2016 to 2023: a 40 mm Oystersteel chronograph with the first black Cerachrom ceramic bezel on a steel Daytona, the calibre 4130 with 72 hours of power reserve, and a white or black dial. The white-dial version is the watch collectors call the "Panda". It was replaced by the 126500LN in 2023 and is now bought only on the secondary market. This guide covers the specifications, the production history, white versus black dial, how it compares with the current 126500LN, prices in 2026 and what to check before buying. Bizak & Co. sources the 116500LN to order; the Daytona collection lists the configurations we can seek.
Last reviewed on September 19, 2026 by Filip Biczak. Prices are dated observations, not quotes.
Rolex Daytona 116500LN specifications
| Attribute | 116500LN |
|---|---|
| Case | 40 mm Oystersteel, about 12.2 mm thick, roughly 46.5 mm lug to lug, 20 mm lug width; screw-down pushers and Triplock crown |
| Bezel | Black monobloc Cerachrom ceramic with moulded tachymeter scale to 400 units, platinum-coated numerals |
| Movement | Calibre 4130, automatic chronograph, column wheel and vertical clutch, Parachrom hairspring, 72 hours power reserve, Superlative Chronometer to plus or minus 2 seconds a day |
| Dial | White with black counters ("Panda") or black with silver counter rings; Chromalight markers and hands |
| Crystal | Sapphire, no Cyclops |
| Bracelet | Oyster three-piece links, Oysterlock safety clasp, Easylink 5 mm extension |
| Water resistance | 100 m (330 ft) |
| Production | 2016 to 2023; replaced by the 126500LN |
Sources: the Rolex Cosmograph Daytona collection page for the current successor, and Rolex, Cosmograph Daytona 126500LN for the movement and bezel changes that define the 116500LN by contrast.
Why does the 116500LN matter?
Before 2016 the steel Daytona (116520) had a steel bezel and the ceramic bezel was reserved for precious metals. The 116500LN brought the black Cerachrom bezel to steel, echoing the acrylic-bezel 6263 of the 1970s, and demand outran supply from the day it was announced at Baselworld 2016. Waiting lists stretched to years, the secondary premium became the largest on any current Rolex, and the white-dial "Panda" became the single most recognisable modern Rolex. Seven years of production means there are many examples on the market, which keeps it liquid.
White Panda or black dial?
| White dial (116500LN-0001) | Black dial (116500LN-0002) | |
|---|---|---|
| Look | High contrast; the Panda | Monochrome with silver counter rings |
| Demand | Higher; carries the larger premium | Lower; several thousand dollars cheaper for the same watch |
| Bizak catalogue ask, 12 Sep 2026 | US$31,662 | US$25,109 |
Rolex charged the same retail price for both dials, so the gap is purely demand for the nickname. The black dial is the better value if you want the watch rather than the label.
116500LN vs 126500LN: should you buy the older reference?
- Movement. The 116500LN has the calibre 4130; the 126500LN has the calibre 4131 with the Chronergy escapement and a longer service interval. Both run 72 hours.
- Bezel. The 116500LN's ceramic meets the case directly; the 126500LN sets the ceramic inside a thin polished steel ring.
- Case. The 126500LN has slimmer lugs and crown guards; diameter and water resistance are the same.
- Warranty. Any 116500LN is outside its five-year Rolex warranty by 2028 at the latest; a 2026 126500LN is covered to 2031.
- Price. The 116500LN usually trades a few thousand dollars below a 126500LN in the same dial and condition.
Buy the 116500LN if you prefer the ceramic-to-case bezel, want the classic ceramic Panda, or want to save the gap. Buy the 126500LN if the newer movement and warranty matter more.
How much is a Rolex Daytona 116500LN in 2026?
- Retail history. The 116500LN launched at about US$12,400 in 2016 and was listed at about US$14,550 when it was discontinued in 2023. It is no longer sold by Rolex.
- Secondary market. In 2025 and 2026, full-set white-dial examples have generally been asked in the high US$20,000s to low US$30,000s, black dials several thousand below, with watch-only examples cheaper again.
- Bizak catalogue asks. On 12 September 2026 our sourced catalogue listed the white dial at US$31,662 and the black dial at US$25,109, both sourced to order.
Those figures describe what we saw and will move. Ask for a dated quote for the exact dial, year and card; our Rolex price guide explains how to compare quotes, and buying a Daytona from a grey dealer explains what the premium buys.
Is the 116500LN a good investment?
It has held a premium over its retail price for its whole life, peaked in 2022 and settled since. Being discontinued helps: Rolex is no longer adding supply, and the ceramic-to-case bezel is now a distinguishing feature rather than the current spec. Expect it to hold value in line with the steel Daytona as a whole rather than outperform it. Buy it to wear; if resale matters, ask for a written cash-buy assessment before you commit.
Buying a used 116500LN: what to check
- Warranty card. Card serial and rehaut engraving should match; 2016 to 2020 watches came with a five-year warranty from purchase. Rolex does not reissue cards.
- Bezel. Ceramic should be chip-free at the edge where it meets the case; a chipped insert is a costly Rolex service item.
- Pushers. Both should screw down fully; start, stop and reset should be crisp and the seconds hand should return exactly to 12.
- Case. Sharp lug chamfers and even brushing; rounded edges mean polishing.
- Dial and hands. Chromalight should glow blue, not green; any yellowing or mismatched lume means replaced parts.
- Service. Early examples are due or overdue their first service; ask for a Rolex service invoice or price one in.
- Price against the band. A full-set Panda offered well under the market is the single most reliable warning sign.
Our authentication process describes what we inspect before dispatch.
Quick answers
How much is a Rolex Daytona 116500LN Panda?
Bizak's sourced catalogue listed the white dial at US$31,662 and the black dial at US$25,109 on 12 September 2026. It was about US$14,550 at retail when discontinued in 2023.
When was the 116500LN discontinued?
In March 2023, when Rolex announced the 126500LN with the calibre 4131 for the Daytona's 60th anniversary.
Which 116500LN is the Panda?
The white-dial 116500LN-0001 with black counters. The black-dial 116500LN-0002 is the same reference in the other colour.
What movement is in the 116500LN?
Calibre 4130, Rolex's in-house automatic chronograph with a column wheel, vertical clutch and 72 hours of power reserve, used in the Daytona from 2000 to 2023.
Is the 116500LN better than the 126500LN?
It is the same size and look with the previous movement and a bezel that meets the case directly. The 126500LN has the newer calibre 4131 and a current warranty; the 116500LN is usually cheaper.
Request a Daytona 116500LN sourcing quote
Tell us the dial colour, preferred year range, condition and whether the warranty card is required, plus your budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, card and final price before you commit. Catalogue entries: 116500LN white dial, 116500LN black dial, pre-owned 116500LN; browse the Daytona collection or sell or trade your Daytona.
Related reading: Daytona 126500LN guide · Rolex Daytona for women · Rolex waitlist explained · Rolex nicknames explained.
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