Last night May 10th, 2015 at the long awaited inaugural Phillips Watches Auction One held in Geneva, a new historical record was set by a stainless steel Patek Philippe Monopusher Chronograph ref. 130 Doctor's Watch selling for $4,645,00 Millions Swiss Francs —buyer's premium included. Yes ladies and gentleman, this is not a typo, this watch from 1927 sold short of $5 Million USD at today's exchange rate of $1.07 USD per CHF 1. Last night, this watch set many records including the most expensive chronograph ever sold at auction and a new high for any stainless steel wristwatch sold at auction. While many watch collectors feel that the sky is the limit when it comes to owning a piece of history or a rare vintage watch like this, we think that it's finally time for watch collectors to spend some time analyzing why this is happening.