Reference 16520 is among Rolex's most innovative models to date. Housing a modified Zenith-based caliber 4030 mechanism, the model was fitted with the first automatic chronograph movement in the firm's history. At the time of its launch in 1988, the watch garnered an immediate waiting list at Rolex retailers. As it often happens with Rolex timepieces, one can notice a subtle but well-defined evolution of the dial design in the early years of the model. The earliest specimens - such as the present watch - feature five lines of script at 12, but the fifth line “Cosmograph” is noticeably more spaced from the 4th line, compared to the spacing between all the other lines. This gives the impression of the word Cosmograph floating away from the rest, thus its nickname “Floating Cosmograph” (or “Staccato”, as it is known to Italian collectors). Given its status as the earliest iteration of the dial and its supreme scarcity, this configuration is considered one of the most collectable versions of the Zenith Daytona. In addition, the watch is preserved in excellent condition with its caseback sticker still intact. As an even rarer detail, one can find the Tiffany & Co. signature on the dial below the suspended "Cosmograph". The details of any "Tiffany & Co." font are particular and depend on the age of the timepiece; for the R series, the serifs of the "T" almost touch the "i" and the serifs are extra pronounced in the "C" of "Co".

Some of the rarest, most historically important and valuable Rolex wristwatches have been sold through the American retailer Tiffany & Co. The present watch featuring the jeweler's signature is an extraordinarily rare specimen. To date no more than a handful of correct examples have appeared on the market. Few retailers have had a relationship with Rolex like Tiffany & Co. has. The jeweler has proudly emblazoned its logo on a variety of Rolex wristwatches, ranging from the GMT-Master to the Cosmograph Daytona. Historically, the storied boutique has been the destination for collectors in pursuit of the finest and most attractive wristwatches. Furthermore, Tiffany & Co. has been mentioned numerous times in popular culture, ranging from literature to film.