Discontinued Rolex models often trade above retail because their rarity drives...

https://marketrealist.com/retail-and-wholesale/why-some-discontinued-rolex-watches-are-now-worth-more-than-they-cost-new/

Discontinued Rolex models often trade above retail because their rarity drives strong demand among collectors. Unlike insurance appraisals, which are based on replacement cost, resale values reflect actual market transactions