Reference Talk — Vacheron Constantin Automatic Quantieme Perpetual ref. 43031 and ref. 43032
43031 Guilloche Vieux Panier pattern dial, mrwatchley.com
Ultra-thin, neo-vintage icon of the 80/90s. The Vacheron Constantin Perpetual Calendars are the epitome of classic watchmaking at its finest.
43032, Christie’s
The ultra-thin, automatic perpetual calendar, Vacheron Constantin ref. 43031 was conceived in the early 80’s in what was a collective hard stance by the major Maisons that classic watchmaking and complicated watches had a future in what was, at the time, a full scale assault from the quartz movement.
Vacheron Constantin, Audemars Piguet, Patek Philippe + many others produced some of their finest ultra thin perpetuals during this period creating a wave of what’s now commonly refereed to as the neo-vintage era with these particular watches being know as the ultra-thins. A fantastic article on The Birth of Ultra-Thin, Automatic Perpetual Calendars can be found here by A Collected Man.
Both the ref. 43031 and ref. 43032 are powered by the legendary JLC-based 1120 QP sharing much of its mechanical but also visual DNA with the Audemars Piguet counterpart, ref. 5548, more on this later.
Production of the ref. 43031 and ref. 43032 spanned 23 years with production figures varying quite significantly throughout, from around 20 to 100 pieces made per year. It is thought Vacheron Constantin produced less than 2,300 of these perpetual calendars over 23 years making it much rarer than the Audemars Piguet ref. 5448/25657 and Patek Philippe ref. 3940 counterparts.
VC QP’s + a guest Jump Hour, @watches_and_guiness
Caliber 1120 QP
Caliber 1120 QP. Hand engraved variant on the right, Master Horologer
Built upon the ultra-thin Jaeger-LeCoultre 920 ébauche the Vacheron Constantin ref. 43031 houses the caliber 1120/2 QP created with the help of with Dubois-Depraz, a complications specialist.
The calibre features 36 working jewels, a full-diameter winding rotor, sitting on four ruby wheels which runs on a beryllium rail. The rotor is decorated with Geneva stripes and edged with 21-carat gold sitting over the movement not on top to increase the oscillating mass. This movement carries the Geneva Seal.
The caliber 1120/2 QP differs from the Audemars Piguet calibre 2120/2800 in that it features a 48-month sub-dial at 12 o’clock, the months in relation to the leap year can be read on the dial with the aid of a pointer that is driven by a wheel that turns one turn in every 4 years.
It goes without saying the ultra-thin Jaeger-LeCoultre 920 featured in many of the iconic watches of the past century, if you’d like to delve deeper into the Jaeger-LeCoultre 920 please head to this fantastic article by Revolution Watch, I am Legend — The Jaeger-LeCoultre Calibre 920.
Audemars Piguet 5548 housing caliber 2120, Hodinkee
Vacheron Constantin 43031 housing caliber 1120, Phillips
Ref. 43031
Produced exclusively in yellow gold and platinum the the ref. 43031 has a classic and timeless execution, exhibiting a similar silhouette to a number of perpetual calendars from the same era.
The watch spots a Maltese Cross on its crown, inspired by the emblem of Vacheron Constantin, and has four pushers on its case to set the perpetual calendar indications.
The 48 month calendar with leap year indicator at 12 o’clock, made possible due to the incredible 1120/2 mentioned above echos the vintage pocket watches of the past. The date and day can be found at 3 and 9 o’clock, with all sub-dials slightly recessed into the dial surface surround by 3 cabochons and 8 index batons. The dial is signed SWISS only, and fonts are a mix of serif for alphabet and san serif for numerals, an interesting approach for legibility. A sapphire crystal protects the dial with the movement hidden behind a snap-on case-back. 1st Series are found exclusively with a solid case-back with the hallmarks at 12 and case number at 6.
Early 1st Series (Non Sigma) — Introduced in1983
Case no. circa 5657XX - circa 56699X
SWISS ONLY, Watch Brothers London
Until recently the ‘SWISS’ Only and ‘SWISS MADE’ only (non sigma) dials had been somewhat of a mystery.
Thanks to the help of a number of collectors and dealers our research has helped uncover that the case and movement numbers date them to be some of if not the earliest examples of the ref. 43031. Case numbers from 565750 up until 566989 have been found with ‘SWISS’ only or ‘SWISS MADE’ only dials. Case number 566991 has been located and features a ‘Sigma SWISS Sigma’ dial suggesting the change happened around 55669X.
SWISS only (non Sigma), Watch Brothers London
SWISS MADE only (non Sigma), Antiquorum
These dials feature a shimmering dore/cream finish, some with significant depth of color especially compared to later 1st series models.
The case features a familiar stepped and rounded bezel, as seen on the Audemars Piguet QP, but with long straight lugs. The case measures 36mm in diameter (not including crown) and impressively less than 8mm thick with the lug width at 19mm. Case back is solid.
An interesting design and technical difference between the two models (VC and AP) includes the ability to set the month, early reference Audemars Piguet ref. 5548’s did not allow this, a modification that came later in the production.
Looking at the case pushers on the Vacheron Constantin QP’s they sit flush with the case, early Audemars Piguet QP’s featured protruding case pushers moving to flush pushers later in production.
VC 43031 White Classic Driver, AP 5548, Hodinkee
Finally the ref. 43031 features a deep-blue Lapis Lazuli (metamorphic rock) moon-disc, a lovely touch compared to the lacquered Audemars Piguet equivalent.
Lapis Lazuli moon-disc early 1st series, @watchbrotherslondon
Lapis Lazuli moon-disc late 1st series, @watchbrotherslondon
Late 1st Series (Sigma)
Case no. circa 56699X - circa 61159X
From research appears to be from case no. circa 56699X where the ‘Sigma’ symbols first appear either side of the ‘SWISS’ at 6 o’clock.
43031 Vacheron Constantin
Throughout the late 1st Series you can find dials in both light cream and bright white. Looking at case numbers there is no real trend indicating cream first then white, there appears to be quite a mix of dials across the production.
Cream dial case no. 574667, Watch Brothers London
White dial case no. 582735, Watch Brothers London
Platinum examples appear to be bright white consistently throughout late first series. (if you have an off white/cream Platinum example please get in touch.)
43031 Platinum White, Unknown
Transitional ‘Automatic’ Dial
Case no. circa 61159X - 61165X
Caveat transitional periods in late80’s/early 90’s are non linear, you will find 1st, 2nd and automatic dials closely intertwined with one another for a short grouping of case/movement numbers. This is not uncommon across many brands at that time as the transition takes place any dial that was available at the time and on hand was used placed in the watch.
The ’Automatic’ dial was produced for a limited time with the text ‘Automatic’ appeared at the 6 o’clock position with all else remaining the same. Interestingly we are yet to find this dial referenced in any catalogues however a number of examples have surfaced for sale, all with corresponding case and movement numbers of the same time period.
43031 Automatic dial, @ciaca1970
43031 ‘Automatic’ down dial, @watch_me_tipo
2nd Series (Maltese Cross) — Introduced circa 1991
Case no. circa 61166X onwards
43031 2nd Series, HQMilton
As production continued into the mid 90’s the dial of the ref. 43031 received a number of updates. The most obvious change being the addition of the Maltese Cross, placed above the Vacheron Constantin logo mark. The logo mark itself is slightly smaller and the text ‘Automatic’ can be seen just below the 12 o’clock sub-dial, having briefly appearing at the 6 o’clock position in the late 1st series ‘transitional’ dial.
43031 Maltese dial, Christie’s
43031 Series 2 open case-back, A Collected Man
Besides the changes to the dial the case-back also differs between 1st & 2nd series with the closed vs open case-back. While both series feature a ‘snap-on’ case-back the 2nd series provides a sapphire glass window to the magnificent calibre 1120 powering the watch, (transitional 2nd series have been seen, retaining the solid case-back). The movement materials and finishing remains the same across both 1st & 2nd series with the metal and makers hallmarks and the case number moving from the case-back plane to the outer edge, where a thin platinum or yellow gold rim houses the engravings.
Introduction of the ‘Vieux Panier’ Guilloche Dial
43031 Guilloche ‘vertical striping’ effect, mrwatchley.com
2nd series also marked the introduction of the Vieux Panier Guilloche pattern dial, available on both yellow and platinum models. This pattern has been adopted by a number of manufactures with Vacheron Constantin using it on number of their models in the late 80’s/90’s including the Triple Calendar and the 1st Gen Overseas.
It is extremely hard to capture the beauty of this dial in a photo as the magic really comes from the movement and play on light as it hits the dial from different angles. In some lights it appears matte with vertical patterning while other lights you can see a glimmering checkerboard pattern, a truly mesmerising dial indeed.
43031 Guilloche ‘checkerboard’ effect, @watches_and_guiness
Rare Vacheron Catalog from the early 90’s showcasing 2nd Series 43031 and diamond bezel model 43531, @watches_and_guiness
1992 retail pricing, @watches_and_guiness
Late 2nd Series — ‘SWISS MADE’ & enlarged ‘GЀNEVE’
circa 2002
Towards the end of production, the very last 2nd series ref.43031 were signed SWISS MADE at 6 o’clock . These dials are thin and far between and mark the end of a historic model. A rather stunning yellow gold example was sold by A Collected Man in 2021.
‘GЀNEVE’ below the Vacheron Constantin logo mark also seen to be enlarged, another differentiator from the earlier SWISS only dial.
43031 Guilloche Dial Yellow Gold case ‘Swiss Made’, A Collected Man
Dial Colour and Finishes
Yellow gold 1st series have been found in 3 finishes, white, dore (champagne) and silvered(brushed). The silvered brushed dial below is especially interesting as it’s the only one to have surfaced on the market to date. For 1st series platinum models white was the only finish available as were all the 2nd series models that featured the guilloche patterned dials (some of the guilloche dials have been seen to turn somewhat cream in color.)
43031 White Classic Driver
43031 Dore/Champagne Watch Centre
43031 Brushed Silvered S Song Watches
43031 Platinum White, Unknown
2nd series guilloche dials only in white (yellow and platinum), see below.
43031 Guilloche Vieux Panier pattern dial mrwatchley.com
Sub-dial Hand Variants
The sub-dial hands are a very interesting topic, as they can be found in 4 metal/colorways. What is know, is that service replacement sub-dial hands are black, these replacement hands can be found on both yellow gold and platinum models post service.
What’s interesting however is what can be seen on, non-serviced, original models. Case metals sometimes match with the sub-dial metal/color eg. yellow gold case with yellow god sub-dial hands however there are also instances where the hands are seen in blued steel. Why there is this difference is not clear as the matching and blued variations appears throughout both 1st and 2nd series… for example a 2nd series can be found with either matching hands or blue hands, it appears production date is not a variant factor.
43031 ‘blued’ hands, A Collected Man
43031 gold hands, @watchesandguinness
Dial Languages
A number of dial languages have surfaced, English, Spanish and French have all been seen with English being the most common of the group. These languages can be found across both 1st & 2nd series ref. 43031.
43031 English, Heritage Auctions
43031 Spanish, Chrono24-Private Seller
43031 French, Timeline Watch
Bracelet Variant
As with the other ultra-thin automatic perpetuals from the Holy Trinity Vacheron Constantin produced a small number of ref. 43031 on bracelet, available in both yellow gold and platinum. The bracelet is fixed to the case and there are no lugs to interchange with a strap.
This bracelet variant has only been seen, but not limited to, 1st series ref. 43031.
43031 bracelet variant, Sotheby’s
43031 bracelet variant, Unknown
What’s in the Box
Early 43031 full-set, @watchesandguinness
Above is an example set of what you might expect to find with a full-set ref. 43031. Set includes inner box with watch mount and booklet holder, outer cardboard box with document slot in the base, guarantee booklet or guarantee card depending on age, yellow gold or platinum setting pin (these are hard to come by), service booklet, instruction manual and paper envelope used to house documentation + applied sticker featuring watch case/movement numbers.
Sets can differ slightly throughout production/reference however these are the core accessories to look for.
Ref. 43032 Skeleton
43032, Christie’s
1984 - late 1990’s
In 1984, 1 year after the release of the ref. 43031, Vacheron Constantin added a skeletonized version to their range, Ref. 43032. Although exact production numbers are unknown the figures were very low, approximately 10 to 15 examples per year with total production estimated to be less than 500 pieces total.
These skeletonized examples have seen a meteoritic rise in popularity throughout 2021 and it’s easy to see why, from the striking contrast of the sub-dials to the hand engraved movement the watch is a true icon in classic watchmaking.
Skeletonized & Hand Engraved 1120 QP
Caliber 1120 QP Skeletionised and hand engraved, Master Horologer
As covered earlier the ref. 43032 is powered by the same caliber 1120 QP with the difference being skeletonized and hand engraved throughout. Being a skeleton this expert craftsmanship is on show for the world to admire and it most certainly deserves our full attention.
Yellow gold and platinum models share the same movement however the back-plate differs in material, yellow gold for yellow gold models and white gold for the platinum model.
A platinum model with a yellow gold back-plate has been seen in a Vacheron Constantin brochure however not in person. Is it out there to be found or was it prototype, hopefully one day we will know.
PT with yellow gold back-plate, @watchdilettante
Early vs Late Dials
Production was slow however it continued for roughly 10+ years. Over this time there were small visual updates made to the watch, with the most notable being the Vacheron Constantin logo mark in the 6 o’clock sub-dial. For 80’s dials the logo mark sits low in the sub-dial, comparing this to the more visually balanced layout of the 90’s dials where it sits more central. The logo mark size also increases ever so slightly.
Early ‘low logo’ Sotheby’s
Later ‘central logo’ Christie’s
Sub-dials
As mentioned above it is thought less than 500 total of these models were produced. Interestingly both metals were produced in 2 sub-dial colorways, yellow gold, with white or yellow sub-dials, and platinum, with white or blue sub-dials
A Collected Man recently covered this topic indicating the manufacturer ‘estimates that around 150 skeletonized watches were produced in platinum, with only 20 of these bearing blue sub-dials.’ Less is known for the yellow gold model ref. 43032 however the gold sub-dials appears to be the lesser produced variant with very few coming to market.
Yellow gold variants
43032 white sub-dials, VIPLombard
Rare 43032 golden sub-dials, @watchrookiee
Platinum variants
43032 white sub-dials, @watchdilettante
43032 blue sub-dials, A Collected Man
Ref. 43532 — Diamond Bezel
Finally to wrap up a quick glance at the stunning diamond bezel ref. 43532.
Special Thanks
Huge thank you to the below for their knowledge, time and contribution, this article would not have come together without them.
