Discontinued Rolex models often trade above retail because their limited supply...

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 limited supply and high demand push prices up in the secondary market. Insurance appraisals, unlike real transaction comps, reflect replacement costs — not what buyers actually pay