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Possible for a 232W TEC to use just 256W power?

I've recently purchased a used peltier which according to the seller, was rated at 232W. The Vmax and Imax was rated at 16V and 16A. I never bothered to do some simple math until I have purchased it and by multiplying the Vmax Imax, you get a maximum power consumption of 256W.

Here is th problem. Most of the specs of other 220-230W peltier I've seen requires atleast 320W of power to run at full voltage. 256w just seemed a little too efficient to me, even a typical 170W peltier would require more power than that.

Is it possible at all for a TEC to be that efficient or have I been lied to? I think the peltier was manufactured by SCTB Nord and the number 100215 was printed on the cold side.

Thank you.