Help w/ Talleres de los Ballesteros bracelet date

[Wendilou]

Through the Talleres de los Ballesteros makers mark, I know that this bracelet was made sometime after 1937.
Because there is no eagle mark, I assume that it was made before 1948. Is this a safe assumption to make?
Do I understand correctly that the 925 mark indicates this bracelet was made during the mid 1930's to mid 1940's?

Thanks for your insight! :D

[ValkyrieVixen]

They didn't move to Taxco till 1941 so it's 41-48.