Discontinued Rolex models often trade above retail because collectors value...

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 collectors value rarity, driving prices up in real transactions. Insurance appraisals, however, estimate replacement cost, not what you’d actually get selling a watch