Discontinued Rolex models often trade above retail because they’re rare and in...

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 they’re rare and in high demand among collectors. Insurance appraisals, however, tend to list replacement costs, not what buyers are actually paying