Spurs in particular were claimed to be determined to sign the striker, but Bournemouth's asking price of £30 million prevented both club's interest from developing further.
On Tottenham - and Everton's part - the strategy seems to have been a wise move.
King has found it tough to replicate his outstanding form from last season, impacted by the summer arrival of Jermain Defoe.
King scored 16 Premier League goals last season for the Cherries, the first team he has broken double figures in his career.
With this in mind, Bournemouth's asking price seemed excessive, and King has failed to build on his goalscoring form.
This season he has scored only once in nine league games, and this solitary strike came back in September.
King is a talented player who at just 25 would improve both Tottenham and Everton's striking options, the problem is he simply is not worth £30 million to either, particularly in North London where he would only be a back-up for Harry Kane.
King's market may never be higher than it was in the summer, and while Bournemouth want to show ambition and hold onto their star players, failing to cash in at a lower price could be a mistake.
Tottenham and Everton were smart not to cede to Bournemouth's £30 million demands, but even £15 million seems good value for the Cherries right now based on his 2017/18 form.