Rolex Daytona · Reference 126500LN
Rolex Daytona 126500LN
Known as Ceramic Daytona, and in white-dial form the "Panda"
The 126500LN is the current steel Cosmograph Daytona, the reference Rolex launched in 2023 to replace the 116500LN that had run since 2016. It keeps the recipe that made the ceramic Daytona the hardest steel sports watch in the world to buy at retail: Oystersteel case, black Cerachrom monobloc bezel with a molded tachymeter scale, and the two-register-plus-running-seconds layout that has defined the Daytona since the panda dials of the 1960s. What changed sits under the caseback and around the edges. The 4130 movement gave way to the caliber 4131, and Rolex reworked the case, the metal ring around the bezel, and the subdial detailing. It comes two ways: reference 126500LN-0001 with the white dial and black subdials, the configuration collectors call the Panda, and 126500LN-0002 with the black dial and light subdials, the reverse Panda. Both are 40mm, both are steel on the Oyster bracelet, and both trade well above sticker every day of the week. We see both across the counter at 19 W 47th and the white dial is the one people fight over.
Produced: 2023 to present
In stock at Ultimate Diamond
3 pieces on the counter right now.
Specifications
- Case Diameter
- 40mm
- Case Material
- Oystersteel (904L-type stainless)
- Bezel
- Fixed black Cerachrom monobloc ceramic bezel with a molded, platinum-coated tachymeter scale, now set inside a polished steel outer ring that nods to the metal bezels of vintage acrylic Daytonas
- Dial Variants
- 126500LN-0001 white dial with black subdials (the Panda); 126500LN-0002 black dial with light subdials (the reverse Panda). 18k white gold applied hour markers and hands with Chromalight luminescent fill
- Crystal
- Scratch-resistant sapphire
- Movement
- Rolex caliber 4131, self-winding mechanical chronograph, in-house, introduced in 2023 to replace the caliber 4130
- Movement Details
- Column wheel and vertical clutch, Chronergy escapement, Paraflex shock absorbers, blue Parachrom hairspring, updated ball-bearing rotor
- Power Reserve
- Approximately 72 hours
- Frequency
- 28,800 vph (4 Hz)
- Chronometer
- Superlative Chronometer, officially certified (COSC plus Rolex in-house testing), rated to -2/+2 seconds per day after casing
- Water Resistance
- 100 meters (330 feet)
- Bracelet
- Oystersteel Oyster bracelet with folding Oysterlock safety clasp and Easylink 5mm comfort extension
- Crown
- Screw-down Triplock winding crown with three sealing zones; screw-down chronograph pushers
Market & Value
This is one of the few modern Rolex references where the retail price is close to fiction for most buyers. Rolex list is roughly $16,900 in the US, but authorized dealer allocation is effectively a multi-year waitlist and the open market sets the real number. As of mid-2026 we see clean examples trading in the low-to-mid $30,000s, with fair market value hovering around $34,000 to $35,000. That is roughly double sticker. The two dials do not trade at the same money: the white Panda (126500LN-0001) runs a consistent premium over the black dial (126500LN-0002), often several thousand dollars more for an equivalent unworn piece, because the Panda is the more requested configuration. Full-set unworn examples with card, box, and a fresh purchase date carry the strongest bids. Prices did soften off the 2023 launch highs near $34,000, dipped toward the high $20,000s in late 2024, and have firmed back up since. The ceramic Daytona has never traded below retail in this generation, which is not something you can say about most steel sports Rolex right now.
What to Know Before You Buy
If you are choosing between this and the outgoing 116500LN, know what actually changed. The case is about 1mm wider across the middle than the old reference and the lugs were reshaped to sit lower and more ergonomically on the wrist. The bezel now sits inside a polished steel rim, both a styling cue to vintage Daytonas and a buffer that protects the ceramic edge from side knocks. Inside, the 4131 brings the Chronergy escapement and an updated rotor over the 4130 while keeping the same 72-hour reserve. On paper the two references look nearly identical from three feet away; in the metal and on paper spec, the 126500LN is the newer, slightly more refined watch, and it is the one still in production. Two things matter for value: dial and completeness. The white Panda commands more than the black dial, and a full set with matching papers and a recent date will always outsell a watch-only or an older-dated piece. Watch for polished cases and aftermarket parts on anything claiming to be unworn; on a watch trading at twice retail, originality is the whole ballgame. Serial and card dates should agree, and the bracelet stretch and clasp codes should match a genuinely low-wear example if it is being sold as new.
Rolex Rolex Cosmograph Daytona Encyclopedia
Read the full guide →Buying or selling a 126500LN?
Ultimate Watch buys and sells the 126500LN every week on 47th Street. We are the buy side and the sell side on this reference: we write checks for clean white Panda and black dial examples, full set or watch-only, and we keep both configurations in stock for clients who do not want to sit on an AD waitlist. If you own one and want a real number, bring it to Ultimate Diamond at 19 W 47th Street in New York, or call us and we will give you a firm cash offer the same day; if you are buying, ask us what is in the case right now. Come see it in person, request an offer, or call the counter.