Frequently Asked Questions

 

What is a Search Area?

A Search Area represents an area of predefined area of ocean bottom, which the buyer reserves, contracting the Company to search and recover what is found there if it appears to the Company to be of sufficient value to warrant said recovery.

 

How do I contact a Search Area?

Refer to the How to Reserve a Search Area in the main menu. The window can stay open as you actually reserve and purchase your Claim rights. You can also print that page and follow the steps while you are doing it.

 

If something is found on my Search Area, how do you determine if it is valuable enough to investigate?

First, the company will investigate with ROVs (Remote Operated Vehicles) or AOVs (Autonomous Operated Vehicles) with live video feeds coming back to the ship (and the Oceanographica web page) for analysis by the company and its experts. Then if the value of the target appears to be sufficient to cover the costs, we will organize an archeological excavation and recovery.

 

What will be the procedure for the scanning and recovery, step by step?

First we will do the side scanning of the area.

As we find interesting targets, they will be identified and claimed under international law.

If the value is deemed sufficient to warrant recovery, a recovery will be made. An underwater archeological department of a university or institute will be invited to oversee the recovery, following accepted scientific underwater archeological methods to document and recover what is found.

 

What happens with the artifacts that are found?

If significant artifacts are found, they shall be restored and made part of an exhibition to be displayed with high definition video, etc, similar to the traveling Titanic Exhibitions.

They shall be appraised and included in the recovery values towards payment to the claim holders.

 

If you find something on my Search Area, how do I get paid?

After all the treasures that have been recovered on a quarter of the search area have been appraised, the company will make a third party valuation.

The Search Area Buyer shall receive a credit that can only be used to acquire what the expedition has recovered. All the gold, silver and other valuables that can be sold will be listed on the Oceanographica webpage for internal purchase. Should the same item be wanted by two or more buyers, an auction should be held.

After the Search Area Buyer has reserved his items, three possibilities are offered: 1) the goods may be delivered to the owner at their expense, 2) the company can arrange storage of the goods at the owners expense, 3) or the company shall make its best effort to sell the goods, for a fee, sending the net proceeds to the owner.

 

When does the search start?

The search begins when at the Company feels sufficient Search Areas have been reserved to pay for the scanning, search and recover.

Concerning when we are finished, for example verifying, claiming as lawful salvage, and a good archaeological recovery of what we find, we cannot know. This has never been done before. The more wrecks we find, the longer it might take.