In the mid-1980s, Officine Panerai was commissioned to develop a diving wristwatch made specifically for the Diver Corps of the Italian Navy. The specifications were not exactly simple; it had to be waterproof to great depths, antimagnetic and easy to read underwater. As is the case with many other watches, prototypes had to be developed in order to build a final model. According to an original letter dated 22nd December in Firenze 2006, signed by the former Panerai Chief of Mechanical Engineering Mr. Alessandro Bettarini, this Panerai ‘’1000 Meters’’ in titanium is one out of eight of the laboratory prototypes completed; four in bronze and four in titanium, all with minor variations among them. The first prototype was developed in late 1985, while the last prototype was finalized in 1988. Unfortunately, due to the rise of digital diving computers in the 1980s, the Italian Navy decided not to order the final product due to the cost of manufacturing, making these extremely rare prototypes the evolutionary pinnacle of mechanical diving watches during this period.

Accompanied by presentation case with an engraved plaque signed Alessandro Bettarini, an original signed letter from Chief of Mechanical Engineering Mr. Alessandro Bettarini 2006, an evaluation report from Panerai 2013, a copy of a 12-page ''historical watch'' detailed restoration report by Panerai dated May 2014 and restoration papers dated January 2015. An extra Panerai dial is also included.