Introduced in 1967, the Rolex Sea-Dweller was developed to meet the demanding requirements of professional saturation divers. Building upon the success of the Submariner, the Sea-Dweller featured a reinforced Oyster case, an increased depth rating of 2,000 feet (610 metres), and Rolex's patented helium escape valve. This innovative mechanism allowed helium trapped inside the case to escape safely during decompression, making the watch particularly suited to the emerging world of deep-sea exploration.

Among the earliest and most celebrated Sea-Dweller models is the reference 1665, commonly known as the "Double Red". Its distinctive nickname derives from the two lines of red text on the dial, displaying "SEA-DWELLER" and "SUBMARINER 2000". Produced during the formative years of the model, these early examples have become highly sought-after among vintage Rolex collectors.

The present example, dating to circa 1973, features the desirable Mark III dial, distinguished by its characteristic typography, open 6 in the depth rating and distinctive red lettering. With its domed acrylic crystal, matte black dial and unmistakable vintage character, the Double Red Sea-Dweller remains one of the most recognisable and collectible professional Rolex watches of its era.