^ Very nice! I have a '49 Clubman, which I had out last weekend:



I think the sole difference between the '48 Lenton Clubman and the '49 Clubman is that the seat tube decal above the "C" says "Lenton Clubman" on the '48. I can't tell from your pic if that's still visible. I don't have a lot of faith in interpretations of the serial # system for Raleighs of this era, but I can report on mine if that would be helpful.