That looks like the old Navigators team color way. I love my 1st Gen C40, have yet to ride a Master, but always imagined that it rides like a “Master in carbon”. They really are nice bikes and a lot of folks will poo poo Colnago for being over rated but the hype IMO on the C40 is real.
__________________
N = '96 Colnago C40, '04 Wilier Alpe D'Huez, '10 Colnago EPS, '85 Merckx Pro, '89 Merckx Century, '86 Tommasini Professional, '04 Teschner Aero FX Pro, '05 Alan Carbon Cross, '86 De Rosa Professional, '95 Gios Compact Pro, '95 Carrera Zeus, ‘81 Masi Gran Criterium, ‘81 Merckx Pro, ‘89 Cinelli Supercorsa, ‘83 Bianchi Specialissima, ‘VO Randonneur, Ritchey Breakaway Steel, Rivendell Rambouillet, Heron Randonneur, ‘92 Ciöcc Columbus EL