43032 Vacheron Constantin Perpetual Calendar Skeleton, Yellow Gold

In 1983, Vacheron Constantin announced to the world their intentions to return to traditional, complicated mechanical watchmaking in the wake of the quartz crisis with the ref. 43031 Perpetual Calendar. Switzerland had been decimated, with watch industry employment falling from 90,000 to 28,000 and the number of dedicated watchmakers employed falling from 1,600 to 600. In the wake of this ravaging, Audemars Piguet, Vacheron Constantin, and Patek Philippe all refocused and doubled-down on mechanical complication with technical calibres. Between 1978 until 1985, each debuted their own landmark ultra-thin Perpetual Calendar, arguably the most classic Swiss complication. Each was a clear statement of intent: Switzerland was back. One year later, in '84, Vacheron Constantin pushed the edges of their ability further with this: ref. 43032, the Perpetual Calendar Skeleton.

Given the immense handwork involved and low number of surviving watchmakers, Vacheron Constantin could only make 10-15 examples of the 43032 per year. Over approximately 15 years, Vacheron estimate that around 150 examples of the 43032 were manufactured in platinum alongside an estimated 350 examples in yellow gold. Platinum was made in white and blue subdials, while yellow gold was made with white and gold subdials. The platinum case is 36mm with a traditional stepped bezel and straight lugs. Compared to Audemars Piguet's 5548 case, the 43031 and 43032 case wears a slight degree larger for its stronger, lengthier lug profile. Its moonpahse disc is also made of lapis stone.

The yellow gold and platinum 43032 share a 1120 QP however the back plate is in a color matched material for both. Early examples had the VC logo placed a bit lower, just like we see in this 1986 example. Later examples had the VC text closer to center in the lower half of the moonphase real estate. Yellow gold can have white or golden subdials, and while the difference in production isn’t as drastic as the blue subdial’s rarity is relative to white subdials for platinum, still this golden subdial spec does appear to be the rarer variant for yellow gold. It’s a fascinating references with its own highly dedicated following, including us. Whatever anyone may tell you, this is certainly the equal peer of any 25558/25668 or 3940 and distinct in its own charms.

This example sports a thick case with well-defined edges and deep hallmarks. This is the golden dial, which we rarely see, so that's cool. WBL has applied for the Extract, still waiting on it. It comes from a well-regarded London retailer.