These prices, and prices for specific references with more intrinsic horological value too, are driven by said piece being the thing to have.
RM’s entire resale market is driven by this. The 5711, 15202, Daytona etc markets are being driven by this. Journe is also being driven by this (their entire catalogue almost).
I see no difference in the reason for these prices in watches than that I see in the resale market for streetwear like Supreme or Palace or the various sneaker collaborations like Yeezy and Off White. These are simply the things to have and that drives the price, nothing else matters aside from other people want them too.