Modric was the subject of three failed bids from the Blues, including a deadline day bid in the vicinity of £40 million.
But Tottenham held firm over their Croatian star, and Bond believes that this has shown an intention in the north London club to get back into the Champions League next season.
"You could see Luka has got his head round the situation,” Bond said of Modric’s performance on Sunday, where he opened the scoring against Liverpool.
"It'll prove a really wise decision on behalf of the club not to let him go.
"Everybody in football has got a price. If someone offers you more than a player is worth because they want him so badly then it might make good business sense to let him go.
"In the end I don't think it was making any sense on the last day [of the transfer window].
"Had they offered absolute fortunes and the chairman and Harry [Redknapp] thought the squad could have benefited from it they would have taken a view, but they didn't think it was right for us."
Part of Modric’s reason for wanting to move to Chelsea was reported to be the higher wages that were on offer at Stamford Bridge, but Bond still believes that Spurs can still challenge the big five for a spot in the top-tier European competition, despite not having as bigger budget.
"Our stadium holds 35-odd thousand people where the other clubs are holding almost twice as many," he said.
"It's difficult to compete on the same financial level but we have got a really good squad of players which we all believe is capable of finishing at least in the top four.
"That hasn't changed and Luka Modric will benefit us a great deal. Perhaps we're not going to be in the top two but we had a fantastic experience in the Champions League and I don't think it's beyond us to get there again."