Discontinued Rolex models often sell for more than retail because they’re rare...

https://angelopwfn150.tearosediner.net/how-do-dealers-figure-out-what-a-rolex-is-worth-today

Discontinued Rolex models often sell for more than retail because they’re rare and in high demand. Unlike insurance appraisals—which reflect replacement cost, not market demand—real transaction prices show what buyers are willing to pay