– Logan Baker
The reference number system used by watch companies can be as bewildering as it is intimidating.
Some collectors take to it naturally, rattling off serial numbers at watch meet-ups and other events to flex their knowledge on others. But that’s a false dichotomy. You don’t have to memorize these seemingly random sequences of numbers that often exceed five digits to prove your passion for watch collecting. After all, we don’t expect book lovers to recite the Dewey decimal system at a moment’s notice, do we?
That’s why we have nicknames. Watch aficionados bestow memorable, pop-culture-infused nicknames on everything.
Batman, Pepsi, Root Beer, Kermit, Hulk. It’s soda and superheroes all the way down.
But today we’re talking about one of the rarest – the so-called “Darth Vader” Rolex Cosmograph Daytona ref. 16520.
The ref. 16520 was the first Daytona outfitted with a self-winding movement, released in 1998 on the 25th anniversary of the model. The automatic caliber inside used a Zenith El Primero ébauche, providing the whole series with an identifying name, the “Zenith Daytona.” Production of the ref. 16520 lasted 12 years, until it was replaced in 2000 with the ref. 116520, featuring the first in-house Rolex chronograph movement, the caliber 4130.
The ref. 16520 saw several aesthetic changes during its 12-year lifespan. Examples with floating “Daytona” text were only produced during the Zenith Daytona’s first year of production. Examples with four lines of text on the dial were made in 1989 and 1990, replaced that year by a five-line dial that saw the ref. 16520 through the next decade. Other variations include early examples with graduated 225-unit bezels compared to later ones with 220-unit bezels. Other tweaks came later, including an inverted six o’clock marker, a gradual move away from the original matte bracelets, and tritium for the luminous dial markers.
However, not all aesthetic changes were intentional – or even visible until recently.
One notable change was only identified after the ref. 16520 was discontinued. The story goes that an Italian auctioneer was putting together a sale in 2005, when he noticed a ref. 16520 with oddly colored sub-dial rings. Instead of retaining its original silver color, these rings had turned “tropical,” gaining a brown-black patina.
This “tropical” coloration has only been identified on a few 1990s examples bearing S, N, T and W serial numbers, and it’s been determined that it resulted from a manufacturing error by Rolex.
Typically, these silver sub-dial rings would have received a coating of Zapon natural varnishing spray, but for whatever reason, the spray wasn’t applied evenly on all examples, resulting in the gradual color change that’s seen infrequently in the ref. 16520 series.
The effect is usually a lighter shade of brown, a faint patina that’s prized by collectors. But the rarest examples have turned much darker, reaching an almost-black, caramel-like color, subsequently earning these models the “Darth Vader” nickname. The combination of the darkened look with the red “Daytona” text was irresistible to crossover Star Wars fans and watch collectors.
I identified 15 Darth Vader ref. 16520s that have appeared at public auctions since November 2020. The average result of the 13 that successfully sold (two passed) was USD $100,615 (accounting for inflation and currency conversion. If we remove two outlier results, from November 2020 and April 2021, the average price paid was USD $83,927.
Six of the 15 examples had serial numbers that started with “S,” followed by four N-serials, three T serials, and two W-serials. Approximate production dates for these pieces were all over the map between 1991 and 1998, with three examples tentatively dated to each of 1993 and 1995; two examples tentatively dated to each of 1991, 1994, and 1996; and one example tentatively dated to each of 1992 and 1998.
Despite being the most common, Darth Vader examples with S serial numbers had the highest average auction result, at USD $116,873, followed by T-serials (USD $105,851), W-serials (USD $87,919), and N-serials (USD $56,680).
The ref. 16520 is one of the most collectible Daytona references. It’s the last of Rolex’s flagship chronograph to utilize an outsourced movement, but the first in the Daytona family to have an automatic caliber inside. And the many aesthetic variations that were produced ensure there are plenty of details for watch lovers to study and obsess over. Our own James Marks, Deputy Chairman, Watches, International Head of Perpetual, even once described the ref. 16520 as the Daytona that cemented "the watch that we know of now, with its generational wait lists and universal appeal."
But the “Darth Vader” is one of the rarest versions of the ref. 16520 you can find, ensuring a heightened level of interest in the model going forward.
About Phillips In Association With Bacs & Russo
The team of specialists at PHILLIPS Watches is dedicated to an uncompromised approach to quality, transparency, and client service. Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, with its Geneva Watch Auction: XIV having realized $74.5 million in 2021. Over the course of 2021 and 2022, the company sold 100% of the watches offered, a first in the industry, resulting in the highest annual total in history across all the auction houses at $227 million.
About Logan Baker
Logan has spent the past decade reporting on every aspect of the watch business. He joined Phillips in Association with Bacs & Russo at the start of 2023 as the department's Senior Editorial Manager. He splits his time between New York and Geneva.
Recommended Reading
A Novice's Guide To The Rolex Cosmograph Daytona
Accidents Happen – Here's How A Simple Kerning Mistake Created A More Desirable Daytona
Why "The Winner" Is One Of The Most Difficult Rolex Daytonas To Obtain