The model featured is a 1935 Jubilee wrist watch issued to commemorate 150 years of V&C history (at the time it was believed their patrimony began in 1785). The Great Depression had severely strained the Manufacture so this limited series was constructed using unwanted Lepine-type pocket watch movements, hence the crown at 12 o'clock. With this approach they could offer them at very attractive prices and the resulting financial success has been credited with sustaining V&C through difficult times.
Here are some examples from Antiquorum's archives:


The fleabay example:

Yes, indeed, all the relevant points were covered very well. Bill is an old hand at spotting these, and Walid I'm so pleased that you were able to find the references that led to such astute observations! Perhaps some day we can greatly reduce the amount of spurious V&C pieces floating around out there...
a numbers check on this piece wouldn't reveal anything about the dial. The other issue of franken watches with cobbled parts from JLC and V&C ebauches can also fool an archival records check as long as they've retained the part with the legit serial number. It is part of the recipe for due-diligence for sure, as you've mentioned.
The ultimate buyer's guarantee would be for a seller to include a Certificate of Authenticity from VC, but the cost of this service (and the time involved) doesn't make it feasible for most sellers. Still, I question those with high-priced vintage pieces in their inventory for years, priced well above recent auction values so they are not likely to move quickly either, yet can't find the time to go through this process.
Yep, the redial should have been pointed out. And yes, it is an expert buyer/seller, who should know better. The hands, crown and case look pretty good though. Not worth the asking price, but not the most overpriced V&C on the bay for sure. I just saw a dealer who listed a 30mm teardrop lug cased model for $16,900. And they helpfully supply a certified appraisal for insurance purposes. Worth it just for the insurance fraud potential!
There are still outright fakes listed though. Did anyone see the cusion case chronograph that was removed about a week ago? There is still a round case outright fake chronograph with the price down to about $4000. And just about every LeCoultre is represented with a Vacheron movement.
BTW, I sold them the box with the cowboy stickers some time ago.

Alex, was there actually 150 examples of that version with seconds at 9 o'clock? Any special engraving?
Pg 126 of Cologni's Secrets of Vacheron Constantin tells this story, which I've partially excerpted here...
...Time seemed to smile on Vacheron Constantin in 1935, which everyone believed would be the last of the dark years. In that year the firm, which still believed it had been founded in 1785...celebrated its 150th anniversary. To mark the occasion, the firm simply created a "jubilee" watch, a men's round wristwatch produced in two different models...both versions were based on the same outstanding pocket watch movement, developed thirty years earlier. For this reason, one version had its winding crown positioned at twelve o'clock and its seconds counter at six o'clock. On the other version the movement was pivoted so that the winding crown found its normal position at three o'clock. The seconds counter naturally pivoted too...
An illustration of the version with crown at three o'clock is found on pg. 137. I'd still be interested in knowing if these watches were inscribed with something special and if they were limited to 150 examples of each version.