diff --git a/src/cmd/go/alldocs.go b/src/cmd/go/alldocs.go
index 420529b1a96ac..1c5dbfc7584de 100644
--- a/src/cmd/go/alldocs.go
+++ b/src/cmd/go/alldocs.go
@@ -138,11 +138,13 @@
 // 	-buildmode mode
 // 		build mode to use. See 'go help buildmode' for more.
 // 	-buildvcs
-// 		Whether to stamp binaries with version control information. By default,
-// 		version control information is stamped into a binary if the main package
-// 		and the main module containing it are in the repository containing the
-// 		current directory (if there is a repository). Use -buildvcs=false to
-// 		omit version control information.
+// 		Whether to stamp binaries with version control information
+// 		("true", "false", or "auto"). By default ("auto"), version control
+// 		information is stamped into a binary if the main package, the main module
+// 		containing it, and the current directory are all in the same repository.
+// 		Use -buildvcs=false to always omit version control information, or
+// 		-buildvcs=true to error out if version control information is available but
+// 		cannot be included due to a missing tool or ambiguous directory structure.
 // 	-compiler name
 // 		name of compiler to use, as in runtime.Compiler (gccgo or gc).
 // 	-gccgoflags '[pattern=]arg list'
diff --git a/src/cmd/go/internal/cfg/cfg.go b/src/cmd/go/internal/cfg/cfg.go
index deab3dddd0dbe..7d1d1f379f0ea 100644
--- a/src/cmd/go/internal/cfg/cfg.go
+++ b/src/cmd/go/internal/cfg/cfg.go
@@ -24,9 +24,9 @@ import (
 
 // These are general "build flags" used by build and other commands.
 var (
-	BuildA                 bool   // -a flag
-	BuildBuildmode         string // -buildmode flag
-	BuildBuildvcs          bool   // -buildvcs flag
+	BuildA                 bool     // -a flag
+	BuildBuildmode         string   // -buildmode flag
+	BuildBuildvcs          = "auto" // -buildvcs flag: "true", "false", or "auto"
 	BuildContext           = defaultContext()
 	BuildMod               string                  // -mod flag
 	BuildModExplicit       bool                    // whether -mod was set explicitly
diff --git a/src/cmd/go/internal/list/list.go b/src/cmd/go/internal/list/list.go
index eabf73ca4348c..62c18866c4c65 100644
--- a/src/cmd/go/internal/list/list.go
+++ b/src/cmd/go/internal/list/list.go
@@ -503,7 +503,7 @@ func runList(ctx context.Context, cmd *base.Command, args []string) {
 	pkgOpts := load.PackageOpts{
 		IgnoreImports:   *listFind,
 		ModResolveTests: *listTest,
-		LoadVCS:         cfg.BuildBuildvcs,
+		LoadVCS:         true,
 	}
 	pkgs := load.PackagesAndErrors(ctx, pkgOpts, args)
 	if !*listE {
diff --git a/src/cmd/go/internal/load/pkg.go b/src/cmd/go/internal/load/pkg.go
index 1a628475ca668..438cc350859fe 100644
--- a/src/cmd/go/internal/load/pkg.go
+++ b/src/cmd/go/internal/load/pkg.go
@@ -17,6 +17,7 @@ import (
 	"internal/goroot"
 	"io/fs"
 	"os"
+	"os/exec"
 	"path"
 	pathpkg "path"
 	"path/filepath"
@@ -196,9 +197,9 @@ func (p *Package) Desc() string {
 // IsTestOnly reports whether p is a test-only package.
 //
 // A “test-only” package is one that:
-// 	- is a test-only variant of an ordinary package, or
-// 	- is a synthesized "main" package for a test binary, or
-// 	- contains only _test.go files.
+//   - is a test-only variant of an ordinary package, or
+//   - is a synthesized "main" package for a test binary, or
+//   - contains only _test.go files.
 func (p *Package) IsTestOnly() bool {
 	return p.ForTest != "" ||
 		p.Internal.TestmainGo != nil ||
@@ -2375,7 +2376,7 @@ func (p *Package) setBuildInfo(includeVCS bool) {
 	var vcsCmd *vcs.Cmd
 	var err error
 	const allowNesting = true
-	if includeVCS && p.Module != nil && p.Module.Version == "" && !p.Standard && !p.IsTestOnly() {
+	if includeVCS && cfg.BuildBuildvcs != "false" && p.Module != nil && p.Module.Version == "" && !p.Standard && !p.IsTestOnly() {
 		repoDir, vcsCmd, err = vcs.FromDir(base.Cwd(), "", allowNesting)
 		if err != nil && !errors.Is(err, os.ErrNotExist) {
 			setVCSError(err)
@@ -2387,7 +2388,14 @@ func (p *Package) setBuildInfo(includeVCS bool) {
 			// repository containing the working directory. Don't include VCS info.
 			// If the repo contains the module or vice versa, but they are not
 			// the same directory, it's likely an error (see below).
-			repoDir, vcsCmd = "", nil
+			goto omitVCS
+		}
+		if cfg.BuildBuildvcs == "auto" && vcsCmd != nil && vcsCmd.Cmd != "" {
+			if _, err := exec.LookPath(vcsCmd.Cmd); err != nil {
+				// We fould a repository, but the required VCS tool is not present.
+				// "-buildvcs=auto" means that we should silently drop the VCS metadata.
+				goto omitVCS
+			}
 		}
 	}
 	if repoDir != "" && vcsCmd.Status != nil {
@@ -2401,8 +2409,11 @@ func (p *Package) setBuildInfo(includeVCS bool) {
 			return
 		}
 		if pkgRepoDir != repoDir {
-			setVCSError(fmt.Errorf("main package is in repository %q but current directory is in repository %q", pkgRepoDir, repoDir))
-			return
+			if cfg.BuildBuildvcs != "auto" {
+				setVCSError(fmt.Errorf("main package is in repository %q but current directory is in repository %q", pkgRepoDir, repoDir))
+				return
+			}
+			goto omitVCS
 		}
 		modRepoDir, _, err := vcs.FromDir(p.Module.Dir, "", allowNesting)
 		if err != nil {
@@ -2410,8 +2421,11 @@ func (p *Package) setBuildInfo(includeVCS bool) {
 			return
 		}
 		if modRepoDir != repoDir {
-			setVCSError(fmt.Errorf("main module is in repository %q but current directory is in repository %q", modRepoDir, repoDir))
-			return
+			if cfg.BuildBuildvcs != "auto" {
+				setVCSError(fmt.Errorf("main module is in repository %q but current directory is in repository %q", modRepoDir, repoDir))
+				return
+			}
+			goto omitVCS
 		}
 
 		type vcsStatusError struct {
@@ -2438,6 +2452,7 @@ func (p *Package) setBuildInfo(includeVCS bool) {
 		}
 		appendSetting("vcs.modified", strconv.FormatBool(st.Uncommitted))
 	}
+omitVCS:
 
 	p.Internal.BuildInfo = info.String()
 }
diff --git a/src/cmd/go/internal/work/build.go b/src/cmd/go/internal/work/build.go
index 6e5e155cb955b..394fe9105003c 100644
--- a/src/cmd/go/internal/work/build.go
+++ b/src/cmd/go/internal/work/build.go
@@ -13,6 +13,7 @@ import (
 	"os"
 	"path/filepath"
 	"runtime"
+	"strconv"
 	"strings"
 
 	"cmd/go/internal/base"
@@ -91,11 +92,13 @@ and test commands:
 	-buildmode mode
 		build mode to use. See 'go help buildmode' for more.
 	-buildvcs
-		Whether to stamp binaries with version control information. By default,
-		version control information is stamped into a binary if the main package
-		and the main module containing it are in the repository containing the
-		current directory (if there is a repository). Use -buildvcs=false to
-		omit version control information.
+		Whether to stamp binaries with version control information
+		("true", "false", or "auto"). By default ("auto"), version control
+		information is stamped into a binary if the main package, the main module
+		containing it, and the current directory are all in the same repository.
+		Use -buildvcs=false to always omit version control information, or
+		-buildvcs=true to error out if version control information is available but
+		cannot be included due to a missing tool or ambiguous directory structure.
 	-compiler name
 		name of compiler to use, as in runtime.Compiler (gccgo or gc).
 	-gccgoflags '[pattern=]arg list'
@@ -302,7 +305,7 @@ func AddBuildFlags(cmd *base.Command, mask BuildFlagMask) {
 	cmd.Flag.Var((*base.StringsFlag)(&cfg.BuildToolexec), "toolexec", "")
 	cmd.Flag.BoolVar(&cfg.BuildTrimpath, "trimpath", false, "")
 	cmd.Flag.BoolVar(&cfg.BuildWork, "work", false, "")
-	cmd.Flag.BoolVar(&cfg.BuildBuildvcs, "buildvcs", true, "")
+	cmd.Flag.Var((*buildvcsFlag)(&cfg.BuildBuildvcs), "buildvcs", "")
 
 	// Undocumented, unstable debugging flags.
 	cmd.Flag.StringVar(&cfg.DebugActiongraph, "debug-actiongraph", "", "")
@@ -332,6 +335,29 @@ func (v *tagsFlag) String() string {
 	return "<TagsFlag>"
 }
 
+// buildvcsFlag is the implementation of the -buildvcs flag.
+type buildvcsFlag string
+
+func (f *buildvcsFlag) IsBoolFlag() bool { return true } // allow -buildvcs (without arguments)
+
+func (f *buildvcsFlag) Set(s string) error {
+	// https://go.dev/issue/51748: allow "-buildvcs=auto",
+	// in addition to the usual "true" and "false".
+	if s == "" || s == "auto" {
+		*f = "auto"
+		return nil
+	}
+
+	b, err := strconv.ParseBool(s)
+	if err != nil {
+		return errors.New("value is neither 'auto' nor a valid bool")
+	}
+	*f = (buildvcsFlag)(strconv.FormatBool(b)) // convert to canonical "true" or "false"
+	return nil
+}
+
+func (f *buildvcsFlag) String() string { return string(*f) }
+
 // fileExtSplit expects a filename and returns the name
 // and ext (without the dot). If the file has no
 // extension, ext will be empty.
@@ -379,7 +405,7 @@ func runBuild(ctx context.Context, cmd *base.Command, args []string) {
 	var b Builder
 	b.Init()
 
-	pkgs := load.PackagesAndErrors(ctx, load.PackageOpts{LoadVCS: cfg.BuildBuildvcs}, args)
+	pkgs := load.PackagesAndErrors(ctx, load.PackageOpts{LoadVCS: true}, args)
 	load.CheckPackageErrors(pkgs)
 
 	explicitO := len(cfg.BuildO) > 0
@@ -603,7 +629,7 @@ func runInstall(ctx context.Context, cmd *base.Command, args []string) {
 
 	modload.InitWorkfile()
 	BuildInit()
-	pkgs := load.PackagesAndErrors(ctx, load.PackageOpts{LoadVCS: cfg.BuildBuildvcs}, args)
+	pkgs := load.PackagesAndErrors(ctx, load.PackageOpts{LoadVCS: true}, args)
 	if cfg.ModulesEnabled && !modload.HasModRoot() {
 		haveErrors := false
 		allMissingErrors := true
diff --git a/src/cmd/go/testdata/script/build_buildvcs_auto.txt b/src/cmd/go/testdata/script/build_buildvcs_auto.txt
new file mode 100644
index 0000000000000..9eac568045987
--- /dev/null
+++ b/src/cmd/go/testdata/script/build_buildvcs_auto.txt
@@ -0,0 +1,87 @@
+# Regression test for https://go.dev/issue/51748: by default, 'go build' should
+# not attempt to stamp VCS information when the VCS tool is not present.
+
+[short] skip
+[!exec:git] skip
+
+cd sub
+exec git init .
+exec git add sub.go
+exec git commit -m 'initial state'
+cd ..
+
+exec git init
+exec git submodule add ./sub
+exec git add go.mod example.go
+exec git commit -m 'initial state'
+
+
+# Control case: with a git binary in $PATH,
+# 'go build' on a package in the same git repo
+# succeeds and stamps VCS metadata by default.
+
+go build -o example.exe .
+go version -m example.exe
+stdout '^\tbuild\tvcs=git$'
+stdout '^\tbuild\tvcs.modified=false$'
+
+
+# Building a binary from a different (nested) VCS repo should not stamp VCS
+# info. It should be an error if VCS stamps are requested explicitly with
+# '-buildvcs' (since we know the VCS metadata exists), but not an error
+# with '-buildvcs=auto'.
+
+go build -o sub.exe ./sub
+go version -m sub.exe
+! stdout '^\tbuild\tvcs'
+
+! go build -buildvcs -o sub.exe ./sub
+stderr '\Aerror obtaining VCS status: main package is in repository ".*" but current directory is in repository ".*"\n\tUse -buildvcs=false to disable VCS stamping.\n\z'
+
+cd ./sub
+go build -o sub.exe .
+go version -m sub.exe
+! stdout '^\tbuild\tvcs'
+
+! go build -buildvcs -o sub.exe .
+stderr '\Aerror obtaining VCS status: main module is in repository ".*" but current directory is in repository ".*"\n\tUse -buildvcs=false to disable VCS stamping.\n\z'
+cd ..
+
+
+# After removing 'git' from $PATH, 'go build -buildvcs' should fail...
+
+env PATH=
+env path=
+! go build -buildvcs -o example.exe .
+stderr 'go: missing Git command\. See https://golang\.org/s/gogetcmd$'
+
+# ...but by default we should omit VCS metadata when the tool is missing.
+
+go build -o example.exe .
+go version -m example.exe
+! stdout '^\tbuild\tvcs'
+
+# The default behavior can be explicitly set with '-buildvcs=auto'.
+
+go build -buildvcs=auto -o example.exe .
+go version -m example.exe
+! stdout '^\tbuild\tvcs'
+
+# Other flag values should be rejected with a useful error message.
+
+! go build -buildvcs=hg -o example.exe .
+stderr '\Ainvalid boolean value "hg" for -buildvcs: value is neither ''auto'' nor a valid bool\nusage: go build .*\nRun ''go help build'' for details.\n\z'
+
+
+-- go.mod --
+module example
+
+go 1.18
+-- example.go --
+package main
+
+func main() {}
+-- sub/sub.go --
+package main
+
+func main() {}
diff --git a/src/cmd/go/testdata/script/test_buildvcs.txt b/src/cmd/go/testdata/script/test_buildvcs.txt
index a0689195e8111..a669966036458 100644
--- a/src/cmd/go/testdata/script/test_buildvcs.txt
+++ b/src/cmd/go/testdata/script/test_buildvcs.txt
@@ -5,6 +5,8 @@
 [short] skip
 [!exec:git] skip
 
+env GOFLAGS=-buildvcs  # override default -buildvcs=auto in GOFLAGS, as a user might
+
 exec git init
 
 # The test binaries should not have VCS settings stamped.
diff --git a/src/cmd/go/testdata/script/version_buildvcs_nested.txt b/src/cmd/go/testdata/script/version_buildvcs_nested.txt
index 08d4c92bafb69..a0c69f9c12acf 100644
--- a/src/cmd/go/testdata/script/version_buildvcs_nested.txt
+++ b/src/cmd/go/testdata/script/version_buildvcs_nested.txt
@@ -1,7 +1,7 @@
 [!exec:git] skip
 [!exec:hg] skip
 [short] skip
-env GOFLAGS=-n
+env GOFLAGS='-n -buildvcs'
 
 # Create a root module in a root Git repository.
 mkdir root