– By Logan Baker
The 1990s was a pivotal decade for Vacheron Constantin,. It saw the Geneva-based firm embrace its rich history of alternative time displays for the first time in decades, with cult releases such as the Mercator. Even more importantly, however, the beginning of the decade coincided with the release of the Patrimony Minute Repeater Perpetual Calendar ref. 30020, widely considered one of the most important wristwatches ever produced by Vacheron.
The ref. 30020 was released in 1992 as a direct competitor to Patek Philippe's ref. 3974, which had launched three years earlier in 1989 to commemorate Patek's 150th anniversary. Vacheron and Patek, both Geneva-based Holy Trinity brands, have always had a quiet-yet-fierce rivalry, and it was kicked into high gear when Patek brought out the ref. 3974, the first-ever wristwatch to combine a perpetual calendar with a minute repeater and a self-winding movement.
Vacheron reached deep into its archive to come up with the inspiration behind the ref. 30020. The case and movement of the watch were directly influenced by Vacheron's historic ref. 4261 minute-repeating wristwatch, launched in 1943. Unlike Patek's ref. 3974, which featured a more conventional case profile, the ref. 30020 introduced multi-step bezel design and elegant teardrop lugs, powerful aesthetic choices that make the watch highly recognizable to this day, 30 years after its release.
One of the most impressive attributes about the ref. 30020, however, is its size. Measuring a compact 37mm × 10.5mm, thanks to Vacheron's use of the caliber 1755, the caliber 1755 was the thinnest minute repeating movement ever produced at the time, at just 3.28mm in thickness.
Vacheron only ever produced 200 examples of the caliber 1755, with some movements going toward the ref. 30010 and ref. 30030 lines. A total of 77 examples of the caliber 1755 were taken by Vacheron and upgraded with the addition of modules for the perpetual calendar and moon-phase display for use in the ref. 30020 series. Interestingly, Vacheron opted to use a thin slice of lapis lazuli for the base of the moon-phase display.
Vacheron offered the ref. 30020 in two different case metal variations during its 14-year production run: the most common and desirable of the two is the platinum case followed by a less sought-after sibling in 18k yellow gold. Over the past 20 years, my research shows that there have been 15 different instances of a platinum ref. 30020 selling at auction, at an average price of USD $216,155. Alternatively, I was only able to find three different instances of the yellow gold ref. 30020, with each selling for an average of USD $229,410.
Despite the slight discrepancy in average price, you can clearly see on the above graph that the platinum ref. 30020 has both higher peaks and lower valleys than the yellow gold examples.
The Patek Philippe ref. 3974 is a far more famous watch today than the Vacheron Constantin ref. 30020, but the pair of complicated wristwatches are forever bound in an intra-Geneva complicated showdown. Luckily for you, the ref. 30020 is still a relatively under-the-radar piece compared to the ref. 3974.
In fact, just a few weeks ago, during our Hong Kong Watch Auction: XVI, a possibly unique ref. 3974 cased in platinum sold for more than USD $1.8 million – a significant increase from the platinum ref. 30020's average of USD $216,155.
The platinum ref. 30020 that was included in December's New York Watch Auction: NINE (lot 41) was the third and final example to appear at auction last year. It dated to 2000 and sold for USD $215,900, against an estimate set between USD $80,000 and $160,000.
About Phillips In Association With Bacs & Russo
The team of specialists at PHILLIPS Watches is dedicated to an uncompromised approach to quality, transparency, and client service. Phillips in Association with Bacs & Russo holds the world record for the most successful watch auction, with its Geneva Watch Auction: XIV having realized $74.5 million in 2021. Over the course of 2021 and 2022, the company sold 100% of the watches offered, a first in the industry, resulting in the highest annual total in history across all the auction houses at $227 million.
About Logan Baker
Logan has spent the past decade reporting on every aspect of the watch business. He joined Phillips in Association with Bacs & Russo at the start of 2023 as the department's Senior Editorial Manager. He splits his time between New York and Geneva.
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