What does “Reverse Panda” mean?

'Reverse Panda' is the opposite of a Panda dial: a dark dial with contrasting light subdials or subdial rings. For the modern Rolex Cosmograph Daytona, dealers commonly use it for the black-dial 116500LN and 126500LN, which have a black dial with the subdials framed in silver. Not everyone agrees on the name: some prefer other nicknames for that configuration, and purists argue the term belongs to vintage Daytonas with black dials and light subdials.

Because usage varies, always state the reference and dial colour in a listing. The black-dial modern Daytona has generally been slightly less in demand than the white-dial version, but it has a strong following of its own among buyers who prefer its more understated look. The usual checks apply: card date, full set, unworn status and an unpolished case. For vintage black-dial Daytonas, the originality of the dial and hands is the main concern, since many have been replaced or refinished over the decades.

Example: 'Reverse panda 126500LN, black dial, 2024, unworn, full set.'