For the Novikov equation, on both the line and the circle, we construct a 2-peakon solution with an asymmetric antipeakon-peakon initial profile whose $H^s$-norm for $s<3/2$ is arbitrarily small. Immediately after the initial time, both the antipeakon and peakon move in the positive direction, and a collision occurs in arbitrarily small time. Moreover, at the collision time the $H^s$-norm of the solution becomes arbitrarily large when $5/4<s<3/2$, thus resulting in norm inflation and ill-posedness. However, when $s<5/4$, the solution at the collision time coincides with a second solitary antipeakon solution. This scenario thus results in nonuniqueness and ill-posedness. Finally, when $s=5/4$ ill-posedness follows either from a failure of convergence or a failure of uniqueness. Considering that the Novikov equation is well-posed for $s>3/2$, these results put together establish $3/2$ as the critical index of well-posedness for this equation. The case $s=3/2$ remains an open question.
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