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

https://judahsuniqueop-eds.lumenforgex.com/posts/what-is-the-difference-between-replacement-cost-and-resale-price

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