I have a few M48s. These were not built from parts . I think you are thinking about the post war 98 Mausers that were built from leftover German parts. The M48 is an intermediate action rifle. That is, the action is a little shorter then the 98 Mauser. The M48 is sometimes referred to as the last Mauser. Some say that there are only three M48 models. The standard M48 like this one, the M48A which has a stamped floor plate and the M48B which has the stamped trigger guard. But there was another built for export. It was built with a walnut stock instead of Elm and didn't have all the markings as the regular M48s.
I'm not sure if I'll be shooting this one anytime soon. I have plenty of Mausers, I think more then 60, and have two that really shoot great.
This is what I remember from Branko's excellent book on Yugo Mausers, my own personal experiences with them, and any errors or faults of memory are mine:
M48's were made in house at the Kragujevac Arsenal post war in Yugoslavia with new intermediate length receivers and barrels using tooling originally developed by FN in the 1920's which was exported to Yugoslavia. Some 24/47's were made by FN while others made on the machinery FN installed at the Yugo arsenal.
As said above, the M48 used all milled parts, the M48A used a combination of milled and stamped parts, and the m48 B (which is still marked M48A), and M48BO used mostly stamped parts, the BO lacks Yugo crests and internet lore surrounds those regarding the stock composition etc. I've seen walnut, cherry, even apple, stocks claimed, laminate, etc. As the BO was allegedly designed for export to shady places--there is a lot of myth there. I don't have one but BO postings of what do I have pix generate quite a bit of discussion.
The only stocks that I've seen in person are elm stocks that are somewhat crude. Roughly finished and you have to be careful not to get splinters on a basically new stock. The one I have, operates, but as one person told me, the key to operating the M48 is to work the bolt like you hate it. The 24/47's that I have handled are smoother and if I recall correctly have some slight differences with the main differences being the stock and its hardware and whether the bolt was bent.
The 24/47 barrelled action will fit a M48 stock and vice versa with little additional inletting. Don't remember whether you have to switch the rear sight base or not as the 24/47 stock is more svelte and uses a different handguard. If you can find it, Branko Bogdanovic who used to post from time to time on Gunboards wrote a pretty detailed book about Serbian and Yugoslavian Mausers and the retrofit programs operated by the Kragujevac Arsenal. He used what was left of the old official arsenal records that and his training in the Yugo Army as sources for his book.
The Preduzce 44 were made from captured German/Czech/whatever Mauser 98 receivers that have scrubbed and have replaced crests usually and are a true full length 98 action. If I recall Branko's story, these were used by partisans during the war and later in the aftermath of WWII as instruments of restoring order to Yugoslavia. You can get the receivers pretty cheap if you want a good one to build a 98 sporter with and sometimes they are even cheaper if you have a sewer pipe barrel that needs to be removed in order to use the receiver.
There are also weird shortened k98 stocks and vz 24 stocks floating around probably for captured rifles--JG Sales called them partisan stocks which I suspect came from Samco but I could be wrong. These fit the 98 action but the tips were shortened so as to prevent mounting a bayonet to the rifle. The Yugo 24/52 Mauser rifle which is also a true 98 action made from pre-war from Brno VZ 24's shipped to Yugoslavia. Yugoslavia is kind of like Turkey--you could have a fairly large Mauser collection based on variants in one country.
