There was a time not so very long ago, when if you saw a Rolex bedecked in diamonds or any other precious stones, you could pretty much assume it was an aftermarket job, the kind of warranty-voiding aesthetic mistake made by those for whom a stock Rolex wasn’t nearly flashy enough. Not any longer. Rolex has fully embraced the gem-set trend to the definite betterment of its bottom line. This brings us to the Rolex Daytona Rainbow, specifically the Ref. 116595RBOW.
Introduction of the Rolex Daytona Rainbow Watch
When the eye-popping, gem-set timepiece first debuted in 2012, it was initially looked upon as somewhat gaudy or gauche; some even compared the Rainbow to the legendarily garish “Eye Of The Tiger” Daytona Ref. 116588TBR. However, while the “Eye of the Tiger” model remains beyond the pale for many diehard Rolex enthusiasts, the Rainbow version has become one of the most desirable Daytonas ever made, the ultimate flex for those who have the cash to spend on a six-figure version of a $15,000 (official retail price) watch, albeit one with a reported 15-year Rolex Daytona waiting list.
Rolex’s Uncertain Commitment to the Rainbow Daytona
Rolex itself doesn’t seem to be able to decide whether to keep making the Rainbow or not. As mentioned in our Rolex Rainbow Daytona review, it was initially only available for a handful of years following its debut in 2012, it was brought back in 2022 for one final year, discontinued again in 2023, and then brought back again in 2024. A white gold version never really caught on, while a yellow gold and Everose model, the latter introduced in 2018, gained more traction, with the Everose becoming the version to have.
The Skyrocketing Value of the Rainbow Daytona
The Everose edition originally retailed for around $97,500, while the yellow and white gold editions retailed for around $90,000. Now they start at $400,000-plus on the secondary market, with the ultra-exclusive diamond pavé dial Everose version often going for twice that amount, making it the most expensive modern regular-production factory Daytona on the market. Knockoffs and homages abound, but as Rolex itself only ever uses stones of IF (Internally Flawless) quality, meaning they have no flaws of any kind whatsoever, it is pretty easy to tell the real from the dubious.
Rolex’s Flawless Stones and the Mastery Behind the Rainbow Daytona
The stock Rainbow Daytona’s bezel features a veritable rainbow of 36 baguette-cut sapphires, while the case is set with 56 diamonds, and the hour markers come in the form of 11 more sapphires. Rolex reportedly has approximately 20 in-house gem-setters to do this extremely delicate work to its incredibly high standards. Powered by Rolex’s automatic caliber 4130, even with all this ornamentation, the watch is waterproof up to 100 meters or 330 feet – though we doubt anyone will ever get theirs wet unless they fall into a swimming pool at a party in the Hamptons.
A One-of-a-Kind Prototype: The First Rainbow Daytona Emerges at Auction with a $3.5 Million Estimate
Interestingly, the very first Rainbow Daytona ever made, produced as a one-off for a very well-heeled client in the Middle East in 1993 or 1994, has recently surfaced and is being auctioned off in November, with a pre-sale estimate of $3.5 million. This prototype piece, a bit more subtle than the version that eventually went into production, has a pavé diamond dial with blue sapphire hour markers and the now-famous bezel that gave the piece its name. It also comes on a somewhat incongruous leather strap. In the fullness of time, the Rainbow Daytona may still come to be looked upon as an anomaly, even a bit bizarre. As a piece of Rolex history, however, the prototype’s value is indisputable.
