Rolex Daytona 116520: The underrated Cosmograph
There are plenty of underrated watches out there - but few collectors would consider Rolex Daytona to be one of them. The Daytona is, after all, the definitive hype watch. From endless waitlists to five-figure premiums, few models capture the frenzy of the luxury watch market quite like a steel Cosmograph.
And yet, hidden among the countless versions of Rolex’s iconic chronograph is one reference that often slips through the cracks: the Rolex Daytona 116520.
The Daytona Everyone Knows - and the One Most People Forget
Anyone who’s been into watches for more than ten minutes knows the Daytona’s reputation. Whether it’s the 126500LN that launched in 2023, the ceramic-bezel 116500LN that became the poster child of 2010s hype culture, or the 16520 Zenith Daytona, which helped establish the modern automatic Daytona era after Rolex transitioned from its manual four-digit Cosmograph, the Daytona name carries serious weight.
But between the El Primero Daytona era and the 2016 ceramic Daytona sits the 116520, the first six-digit Daytona reference. Produced from 2000 to 2016, it quietly bridged two worlds: the last of the steel-bezel Daytonas and the first of the fully in-house Rolex chronographs.
Despite introducing major innovations and lasting an impressive sixteen-year production run, the 116520 somehow never reached the same level of adoration as its siblings. The moment Rolex added a ceramic bezel, the market exploded - and those after an older Daytona history jumped straight to the Zenith Daytona to get a piece of Cosmograph history. The 116520 was simply just…there.
4130: Rolex’s first in-house Chronograph
The year 2000 marked a turning point for the Daytona and for Rolex as a brand. The 116520 introduced the Calibre 4130, the first chronograph movement fully developed and produced in-house by Rolex.
Gone was the modified El Primero movement that had powered the previous generation since the late 1980s. In its place came a vertical-clutch, column-wheel chronograph with a 72-hour power reserve — a technical benchmark that redefined what a modern chronograph could be.
At the time, this was a huge leap forward. The 4130 was simpler, more efficient, and easier to service than the El Primero-based 4030. It used fewer components, improved energy efficiency, and introduced a level of reliability that became a new standard not only for Rolex but for the broader industry. Breitling took 9 years to respond with the B01, and Tag Heuer nearly 16 years to finalize their response with the Heuer 02, but at the time the 4130 was unparralleled in its performance.
It also quietly ushered in what we now think of as “modern Rolex build quality.” Solid bracelets replaced the hollow links of older models. The clasp gained the Easylink extension system. The overall feel - from the case finishing to the tactile click of the pushers - had the unmistakable solidity we now associate with contemporary Rolex.
In hindsight, this was the foundation for the Rolex watches we know today.
| Rolex Cosmograph Daytona 116520 | |
|---|---|
| Case/Bracelet Material | Steel |
| Bezel Material | Steel |
| Case Diameter | 40mm |
| Thickness | 12.2mm |
| Water Resistance | 100M |
| Calibre 4130 | |
|---|---|
| Manufacture | Rolex |
| Movement Type | Automatic |
| Power Reserve | 70 Hours |
| Complications | Chronograph |
| Certifications | COSC, Superlative Chronometer |
Why the 116520 Still Matters
It’s easy to overlook the 116520 because its successor, the 116500LN, stole the show. The ceramic bezel gave the Daytona a bolder, more modern look. It’s important to remember that the majority of the changes going from the Zenith Daytona to the 116520 were under the dial - at a glance the design was practically the same for nearly 28 years. The Ceramic Daytona 116500LN represented the biggest change to the looks, at the peak of Instagram hype - allowing the new Daytona to go viral.
But the steel-bezel 116520 has its own unique charm. It strikes a perfect balance between the vintage-inspired Daytonas of the past and the high-polish, hype-driven models that came after. Its monochrome design, polished steel bezel, and restrained proportions give it a timelessness that many modern Daytonas lost in their pursuit of “presence.” This is especially evident when comparing the black dial versions of the 116520 and 116500LN, with the ceramic bezel giving the impression of a bigger dial.
Even Rolex noticed this and retconned the effect. With the 126500LN: the brand re-introduced a metal ring around the ceramic bezel - a deliberate nod to the pre-ceramic era with the effect of again “containing” the dial even if not to the full extent of the metal bezels. Even Rolex, it seems, couldn’t resist circling back to the aesthetic purity of the 116520.
Comparing Eras: El Primero vs. In-House vs. Ceramic
Collectors love to argue over which Daytona is best. The Zenith Daytona (Ref. 16520) carries historical importance as the model that reignited interest in the line. But the truth is, Rolex only used the El Primero because it didn’t have a chronograph of its own at the time. The brand heavily modified the movement - reducing its frequency and overhauling more than half of its components - but it was still, at its core, someone else’s engine.
If you want an El Primero, buy a Zentih El Primero. It’ll cost you less and you’ll get a movement designed from the ground up for that watch.
The ceramic-bezel 116500LN, on the other hand, brought undeniable visual appeal and modern materials. But it also shifted the Daytona into another category - more of a statement piece than a daily watch. Prices soared, availability vanished, and what was once a motorsport-inspired tool watch became the ultimate symbol of watch-market hype.
The 116520 sits right between those two extremes. It has the in-house movement, the robust construction, and the timeless proportions - without the baggage of the inflated premiums or the crowd-pleasing flash.
A Versatile, Wearable Daytona
One of the 116520’s biggest strengths is how versatile it feels on the wrist. Without the glossy ceramic bezel, it wears slightly more understated. It’s elegant enough to dress up yet sporty enough to take anywhere - a true all-rounder.
The proportions (40 mm case, 12.2 mm thick) make it comfortable for most wrists, and it maintains 100 m of water resistance, so it’s a Daytona you can actually live with.
And that’s something worth appreciating. The 116520 is a watch that looks equally good under a cuff or with a T-shirt — a design that whispers where newer Daytonas shout.
Pricing and Market Perspective
When you compare prices between the steel-bezel 116520 and the ceramic-bezel 116500LN, the gap often stretches to tens of thousands of dollars. That difference isn’t due to scarcity or mechanical superiority — it’s almost entirely driven by market psychology.
For collectors who care about the watch itself rather than the market around it, that makes the 116520 one of the smartest buys in the Rolex ecosystem. It’s a watch that represents a real shift in Rolex history — the beginning of modern in-house excellence — without the speculative noise that now surrounds newer models.
A Collector’s Reflection
When I consigned two of my own watches, I started to appreciate how emotional watch ownership can be - how we attach memories to movements and bracelets. That’s part of what makes a watch like the 116520 so appealing: it’s not just an object of hype, it’s a piece of Rolex’s evolution.
The Rolex Daytona 116520 may not be the loudest, rarest, or most headline-grabbing reference, but it arguably matters more than any of them. It’s the bridge between eras - the moment Rolex decided that the Day-Date and Datejust wouldn’t be its only luxury focused watches, instead all of it’s watches would become true luxury pieces - but without sacrificing their functionality.
If I were in a position to buy a Daytona today, this would be the one. It represents everything I value in modern Rolex -classic proportions, mechanical integrity, reliability, and subtle confidence. It’s a watch that does everything a Daytona should, without the noise.
Classic. Understated. Engineered to last.
