Introduced at the 2016 Baselworld, reference 116500LN replaced reference 116520. While both models feature an in-house Rolex chronograph movement, reference 116500LN was Rolex's very first stainless steel Cosmograph Daytona to feature a Cerachrom bezel. Two dial versions were available for the stainless steel model - either black or white. Reference 116500LN became an instant overnight success with clients immediately filling up the waiting list at retailers. Today, it is still incredibly difficult to obtain one due to the model's good looks and cult status.

The present watch is offered in virtually pristine condition with the stickers on the case partially present, as well as the caseback and clasp. It is furthermore accompanied by its Rolex guarantee dated February 11, 2021, hang tag, product literature, wallet, presentation box and outer packaging.