During the 20th century Breguet underwent different changes in ownership and in 1970 it was purchased by the Parisian jewelers Chaumet who subsequently sold the brand in 1987. It was during this time that the young Daniel Roth was brought onboard to revamp the brand to its past glory.

Even though Breguet belonged to Chaumet only a handful of timepieces were cosigned by both brands. The present timepiece is clearly a Breguet reference 3040 “Serpentine” featuring the day and date indications via apertures on the top part of the dial, moonphase indication at six and date on the inner track indicated by a serpentine hand – thus the watch's nickname.

The present example, in overall superb condition presents two very rare elements, the gold guilloché dial that was found on the very early models and the Chaumet signature above the moonphase display where normally the watch number is featured and also engraved on the caseback along with the Breguet signature.