Vacheron Constantin and Phillips Auction announced that they will hold the world’s first wristwatch concours on January 14.

Concours d'Elegance Horlogerie. I believe this event will serve as an opportunity to bring vintage watch culture into the mainstream.

© Vacheron Constantin

This is because it is the first large and prestigious event to evaluate and define what makes a “good vintage watch.”
Vintage watches are no longer just a “niche for enthusiasts.”

Photo credit: Watch Terminal

The Yamazaki Effect:
A New Market Created by Authority

Yamazaki Sherry Cask 2013
Photo credit: Sotheby's

Until 2015, When Yamazaki whisky was selected as the best single malt at the World Whisky Awards, It was known only among enthusiasts. However, Immediately after winning the award, Sales soared and the Yamazaki Sherry Cask 2013 (the award-winning bottle) was sold at retail for $70 in 2015 but now trades for over $5, 400 at auction.

© Suntory

More importantly, This single award elevated the entire category of Japanese whisky from a niche to the mainstream. A drink known only to aficionados, Japanese whisky, Which had been undervalued compared to Scotch, Became an icon loved by collectors and general consumers worldwide. I believe Vacheron Constantin’s Concours d'Elegance Horlogerie can bring about a similar change in the vintage watch market.

Defining ‘Elegance’:
What is a Concours d'Elegance?

A familiar term for car enthusiasts, Concours d'Elegance (French for “competition of elegance”) is the pinnacle of classic car competitions, Awarding the title of “best classic car.”

A scene from Concorso d'Eleganza Villa d'Este 2025
Photo credit: Classic & Sports Car

Overview of Concorso d'Eleganza Villa d'Este
Photo credit: Concorso d'Eleganza Villa d'Este, BMW Classic

While “good” or “best” may seem subjective, These events establish criteria for evaluating classic cars:
- How original are the parts used in the restoration?
- What is the condition of the vehicle?
- How important was this model to the automotive industry?
- What is the story behind the creation of this vehicle?
- How impressive is the provenance of this particular car?

1954 Ferrari 250 Monza, Winner of Class D at the 2025 Concours
Photo credit: Autogespot.com

These standardized evaluation criteria determine whether a car remains merely an “old means of transportation” or is elevated to a “timeless work of art.” The latter can fetch tens or even hundreds of millions at auction.

The same model was auctioned for $1.7 million in 2002
© RM Sotheby's

The First
Vintage Watch Concours d'Elegance

Vacheron Constantin Concours d'Elegance Horlogerie applies the same rigorous standards to vintage watches.

Collectors can submit entries across seven categories and will be evaluated by the most respected experts in the industry.

Striking Mechanism

© Vacheron Constantin

This refers to complications that convert time into an audible signal. Watches equipped with minute repeaters or sonneries fall into this category.

Chronograph

© Vacheron Constantin

Chronographs with two or three counters are eligible.

Astronomical Complication

© Vacheron Constantin

“Pocket watches and wristwatches equipped with triple calendar, Complete calendar, Or perpetual calendar.” — Excerpt from the official Vacheron Constantin website

Multiple Complications

© Vacheron Constantin

These are more complex complications. Tourbillon, Repeater, Striking mechanism, Chronograph, Split seconds, Complete calendar or perpetual calendar, Sky chart, And so on—watches with two or more complications.

Chronomètre Royal

© Vacheron Constantin

Watches with the official designation “Chronomètre Royal.”

Métiers d'Art

© Vacheron Constantin

Métiers d'Art refers to traditional handcrafts or workshops that demonstrate artistry and craftsmanship.

© Vacheron Constantin

The maison’s signature dial and case design

The jury is co-chaired by Vacheron Constantin’s Christiane Selmoni (Heritage & Style Director) and legendary auctioneer Aurel Bacs.

For reference, Aurel Bacs is a superstar auctioneer who has presided over the most important auctions in watch history, Including the sale of the Rolex Daytona worn by Paul Newman for $17.6 million (including auction fees).

© Laurie Brookins / YouTube

Formalizing Intangible Value

Ironically, The significance of the Concours d'Elegance Horlogerie lies in the fact that watches are no longer functionally necessary.

© The Keystone Watches

Unlike cars, We do not need watches. In a way, Watches are similar to art. They are another category that commands enormous prices despite having no functional utility.

‘Mercator’ sold through Vacheron Constantin’s official restoration and sales program
'Les Collectionneur'
© Vacheron Constantin

This is precisely why an institutionalized competition that establishes standards for defining a “good” watch is important. It creates a unified language for conveying the value of objects that are mainly evaluated for their intangible value, Story, And rarity.

Photo credit: Korea Economic Institute

Consider how events like Art Basel and Frieze generate awareness and passion for contemporary art. Also, Think about how the Judgment of Paris in 1976 proved that California wine could compete with French Grand Cru and changed the global wine industry. Such institutional validation does not end with applause from enthusiasts but creates new markets.

In 1976, The 1973 vintage Stag's Leap received higher ratings than Château Mouton Rothschild and Château Brion
Photo credit: Stag's Leap official website

Will You Just Watch?

For most brands, Vintage watches are little more than a “talking point” in PowerPoint presentations for VIP events to promote new products. However, Through the Concours d'Elegance, Vacheron Constantin demonstrates its commitment to properly evaluating the value of actual watches owned by real collectors.

© Vacheron Constantin

It is like a government not just referencing stories of independence struggles for political purposes but actually awarding proper medals to veterans who fought for independence. This event has the potential to elevate vintage watch culture and the market to a new level. This is because the watchmaker with the longest history is hosting the event in partnership with Phillips Auction, The most influential auction house.

(It is somewhat disappointing that only Vacheron Constantin watches can participate. The car Concours d'Elegance hosted by BMW welcomes vehicles from all brands, Including its main competitor, Mercedes...)

Vintage watches will now become a new standard for high-end lifestyle, Alongside classic cars, Wine, And art. Whether you embrace this a little earlier or just admire it from afar in the distant future is up to you.