The Historiques 1948 is based on the reference 4240L, which was also 35mm in diameter, and which used the caliber 495 (basically, it’s the 4240 but with a moonphase disk; the L was for “lune”). In all other respects, 4240L was identical in general quality, inside and out, to the 4240, and like the 4240 it’s rarely encountered at auction or at dealers. As with the Historiques 1942, the Historiques 1948 is a very careful, modern update to the design, with identical case dimensions to the 1942. The moonphase disk comes in either red or blue, with red or blue numerals for the date track. Unlike the 1942, which has transfer printed dial markers, the Historiques 1948 has applied Roman numerals at 3, 9, and 12 o’clock, and applied triangular markers for the remaining hours (except at 6 o’clock). While the 1942 has plain beveled edges for the day and month windows, the 1948 has gold surrounds and the whole effect adds up to a subtly but definitely more formal presentation that the Historiques 1942.