A sheet-fed rotary printing press for selective recto printing and recto and verso printing includes a three-drum reversing device having three cylinders cooperatively disposed behind one another between respective impression cylinders of two adjacent printing units. The three cylinders include one at least double-size transfer cylinder, one at least double-size storage drum, and one at least single-size reversing drum. Grippers prescribe a circular periphery of the transfer cylinder. The transfer cylinder has an outer contour smaller than the circular periphery prescribed by the grippers of the transfer cylinder. Other grippers prescribe a circular periphery of the reversing drum. The reversing drum has an outer contour smaller than the circular periphery prescribed by the grippers of the reversing drum. A method of operating the three-drum reversing device is also provided.