Den Röda Ulv (The Red Wolf) is V&A’s highest distinction, and to be knighted you must have put in an effort and excelled far beyond what can be expected. The order of knighthood also functions as an exemplary source of knowledge and advice for the association's members, and therefore has an additional function alongside pure recognition.

New knighthoods are announced at the annual “Krabbefesten” in February, and in advance of the Krabbefesten, the knighthood nomination is submitted to Den Röda Ulv’s Selection Committee. Here, the Grand Master of the Order considers the nominations together with his council, consisting of a first class member and a member of the current Executive Board.

Everyone has the opportunity to submit knight nominations, but it is not possible to nominate yourself, a non-member, or a person from the sitting Executive Board. Nominations cannot be submitted anonymously, but will be treated confidentially. The deadlines for submitting nominations are normally announced in January.

Den Röda Ulv’s Order Handbook contains, among other things, more information about nomination requirements and nomination tips. It also contains all other information about the Order's organization and history.

During the Order's history, 36 people have been found worthy, and a complete list of all knights and their achievements can be found in the Book of Knights.