Both do have the older V1-V2, V2.2 Noob Bezel...
But the really interesting part is the 116520 ROLEX font on the Black dial.
- The Rolex Font is different leaving more space around the letters on the newer 116500 dials.
- The Rolex name is about the same width, but the spacing of the wording under it is narrower.
- If you compare the location of T in Oyster in relation to the R in Rolex, the difference is easy to see.
If the Black dial watch had a Stainless Steel Bezel it would finally be a correct Black 116520 Noob...
Or is it a 116520 ARF with a Ceramic Noob Bezel? The pushers do look a little long?