In 1988, Rolex launched a completely new iteration of the Cosmograph Daytona, reference 16520. Unlike the precedent new models launched in the late 1960s, the new version was not an incremental upgrade of the previous references, but rather a watch of completely new conception. It features an automatic movement based on Zenith’s El Primero ébauche, heavily modified by Rolex with over 200 interventions including the removal of the date module and the incorporation of the microstella regulation. The model will remain in production throughout the nineties before being eventually replaced by reference 116520, featuring an in-house calibre.

A subtle evolution of some distinctive traits can be noticed throughout the life cycle of the model. The present watch is one of the earliest examples made, featuring the sought-after R serial number, indicating a 1988 production year, the year the model was launched. It features the early bezel graduated to 200 units per hour, the inverted 6 in the hour subdial, and, most importantly, a Floating Cosmograph (or “Staccato” - literally “detached” - as it is known by Italian collectors) dial, characterized by a marked distance between the “Cosmograph” designation and the previous lines of text. Such a dial configuration was in production for a very short time, as soon Rolex modifies the design and closed the gap between the forth and fifth line of text, and it is now considered extremely collectible in virtue of its rarity and aesthetics.