That's exactly the sort of thing that went through my mind as soon as I read the thread title - before opening the thread, that is!!...usually with a watch like that if you have to ask it probably isn't.
That's interesting. Are they more expensive because they (the steel versions) are more rare? Or do you mean that they are more expensive because they have the added comforts of waterproofing and antimagnetic?Oh, there are steel ones around. Which leads to an interesting phenomenon: on some references, the steel ones are more expensive than the gold ones. E.g. the chronograph Ref. 1463, the only vintage waterproof and antimagnetic Patek chronograph. Value in yellow gold: up to ca. 150 000 Euros, value in steel: up to ca. 240 000 Euros.