ROLEX SECONDARY MARKET: PANDA DAYTONA (116500LN)
Today we will be covering the most popular and desirable Rolex watch of our decade, you’ve guessed it, the Rolex Steel Daytona 116500LN White Dial. Nicknamed the Rolex Panda, due to its beautiful white dial and black sub dials, creating this beautiful contrast that just pops. From as early as 2006, the steel Daytona have been trading slightly over retail, obviously nothing compared to today’s market. However, this is evident to show that popularity of the Daytona is evident in the past decade. Why is this so?
The reason for Daytona’s being expensive than other Rolex models: Demand & Supply!
Production of the stainless Daytona is more limited than any other stainless-steel sports model. Thus, the AD gets a very limited supply of Daytona’s and thus explaining why the price in the secondary market costs so much more. The rumored numbers of stainless-steel Daytona that each Authorized Dealers received are 2 per year in each dial.
Such low supply and high demand, of course the 116500LN are trading through the roof. Rolex’s production numbers are rumored to be over a million a year, but the demand way surpasses the current supply. Under normal circumstances, there already aren’t enough steel Daytona to go around, especially now when the productions are hindered by the Covid-19 pandemic. Hence, that’s why it is trading 208% of its retail price, this is after the retail price increase earlier this year.
Rolex Daytona has always been one of the few watches that are deemed an investment type watch, as it has always been trading over retail over the past decade and have been climbing up in prices. It has performed better than any ETFs or bond in the market. Would you pick one up for yourself?
Fun-fact!
In early 1960’s when Rolex Daytona were introduced, they were the least popular watches in the Rolex line-up and the dealer would offer substantial discounts to have the inventory moving. However, during late 1960’s the Daytona shot to fame when Paul Newman sported his piece.