Discontinued Rolex models often trade above retail because they’re rarer 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 rarer and in higher demand among collectors. Insurance appraisals usually list replacement costs, not what someone will actually pay