Discontinued Rolex models often sell above retail because they're rare and...

https://ellasexcellentcolumns.quantlynix.com/posts/what-is-the-difference-between-replacement-cost-and-resale-price

Discontinued Rolex models often sell above retail because they're rare and sought after by collectors, driving up demand. Insurance appraisals usually reflect replacement cost, not what buyers actually pay in the market