Spain steals treasure from finders. US Govt. helps

Please register or login

Welcome to ScubaBoard, the world's largest scuba diving community. Registration is not required to read the forums, but we encourage you to join. Joining has its benefits and enables you to participate in the discussions.

Benefits of registering include

  • Ability to post and comment on topics and discussions.
  • A Free photo gallery to share your dive photos with the world.
  • You can make this box go away

Joining is quick and easy. Log in or Register now!

They should have dumped them back on the wreck from the surface and apologized to spain for taking them off the wreck, after the first judgement. That would have saved spain the cost of sending two aircraft to transport the treasure. It will be interesting to see how many of those coins remain after 1 year, 5 years, 10 years.
 
They should have dumped it all back into sea and said "come and get it."


Sent from my iPhone using Tapatalk
 
HowardE:
I would guess they overstate rather than understate, since they have stock prices to pump up when the make a big "score"
Click to expand...

Actually...I was wondering how much booty went into a "private stash". LOL. I'm also certain that the manifest no longer exists. You don't seriously think that they brought up all that treasure knowing that they would have to return it ALL to Espana?
 
Oh well. I saw some details about this presented at a wreck diving conference a few weeks ago as legal case, not a simple case... But as I understood it, it was somewhat clear-cut once it was established it was a warship; then you're dealing with international law where reciprocity is pretty important - if the US Navy wants to retain any chance to claim ownership of their wrecks in the international waters, it has to allow the same to others. I don't quite buy Odyssey's claim that the ID of the wreck isn't clear; that sort of discoveries don't happen blind. That said, I'm not particularly fond of their line of business either.
 
Thanks to Rhone Man for his lenghtly introduction to the topic, and to Laurin for the brief issue of it being a warship. From the little I understand, the ship was carrying the "treasure" from a Spanish territory in South America to Spain, so that they could give it to France, who was at war with England. The English sank the ship to prevent this. One issue is was it a warship, or a commercial vessel hauling royal cargo.

Spain has apparently agreed not to sell the treasure, despite their financial problems.

Better get more popcorn!
 
If I were Odyssey, I'd dump it back in the sea ... in an undisclosed location ... and tell Spain if they want it, go get it ...

... Bob (Grateful Diver)
 
Quick calculation. Est 500 million to collectors. Maybe. 17 tons of silver melted down equals 34,000lbs. Or 544,000 ounces. Give or take as it would be sold by the Troy ounce. Silver closed today at 34.29. So figure sell at what... 32.00 = $17,408,000. Not 500 million but better than nothing. Cultural value? Who cares. It comes from a culture of murder, robbery, and exploitation of the indigenous people where it was stolen originally. $17.5 mil is better than the nothing Odyssey gets now and you can believe some billionaire somewhere would have paid the 17 mil or MORE to keep that much metal from going to market at once and dropping prices. Investors would have gotten some return and Spain could go suck eggs.
 
Imagine if professional thieves used this logic to "discover" treasure "lost" in safe deposit boxes?
 
Maybe Odyssea can find the missing Social Security lockbox with the trust funds inside!
 
Jim Lapenta:
Quick calculation. Est 500 million to collectors. Maybe. 17 tons of silver melted down equals 34,000lbs. Or 544,000 ounces. Give or take as it would be sold by the Troy ounce. Silver closed today at 34.29. So figure sell at what... 32.00 = $17,408,000.
Click to expand...

I like your estimate Jim... It seems somewhat realistic...

Here's the OMEX Poop (Profit and Loss Statements)...

[TABLE="class: stretchy dataBackground margLeft, width: 984"]
[TR]
[TD="colspan: 6"]Revenue[/TD]
[/TR]
[TR]
[TH="bgcolor: #F7F7F7, align: left"][/TH]
[TH="class: alignRight"]2006
12/31/06[/TH]
[TH="class: alignRight, width: 70, bgcolor: #F7F7F7, align: right"]2007
12/31/07[/TH]
[TH="class: alignRight, width: 70, bgcolor: #F7F7F7, align: right"]2008
12/31/08[/TH]
[TH="class: alignRight, width: 70, bgcolor: #F7F7F7, align: right"]2009
12/31/09[/TH]
[TH="class: alignRight, width: 70, bgcolor: #F7F7F7, align: right"]2010
12/31/10[/TH]
[/TR]
[TR="class: finGrand"]
[TD="class: alignRight label, bgcolor: #E5E5E3, align: left"]Total Revenue[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]5,064[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]6,147[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]4,105[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]4,347[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]21,001[/TD]
[/TR]
[TR]
[TD="colspan: 6"]Operating Expenses[/TD]
[/TR]
[TR="class: finTotal"]
[TD="class: alignRight label, align: left"]Cost of Revenue, Total[/TD]
[TD="class: alignRight, align: right"]1,088[/TD]
[TD="class: alignRight, align: right"]2,292[/TD]
[TD="class: alignRight, align: right"]632[/TD]
[TD="class: alignRight, align: right"]681[/TD]
[TD="class: alignRight, align: right"]191[/TD]
[/TR]
[TR="class: finTotal"]
[TD="class: alignRight label, align: left"]Sell/Gen/AdminExpenses,Tot[/TD]
[TD="class: alignRight, align: right"]23,721[/TD]
[TD="class: alignRight, align: right"]27,615[/TD]
[TD="class: alignRight, align: right"]28,438[/TD]
[TD="class: alignRight, align: right"]22,022[/TD]
[TD="class: alignRight, align: right"]37,217[/TD]
[/TR]
[TR="class: finTotal"]
[TD="class: alignRight label, align: left"]Unusual Expense (Income)[/TD]
[TD="class: alignRight, align: right"]--[/TD]
[TD="class: alignRight, align: right"]--[/TD]
[TD="class: alignRight, align: right"]0[/TD]
[TD="class: alignRight, align: right"]0[/TD]
[TD="class: alignRight, align: right"]383[/TD]
[/TR]
[TR="class: finGrand"]
[TD="class: alignRight label, bgcolor: #E5E5E3, align: left"]Total Operating Expense[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]24,809[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]29,907[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]29,070[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]22,702[/TD]
[TD="class: alignRight, bgcolor: #E5E5E3, align: right"]37,791[/TD]
[/TR]
[TR]
[TD="colspan: 6"][/TD]
[/TR]
[TR="class: finGrandDaddy"]
[TD="class: alignRight label, bgcolor: #ECF7EB, align: left"]Operating Income[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](19,745)[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](23,760)[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](24,965)[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](18,355)[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](16,790)[/TD]
[/TR]
[TR]
[TD="colspan: 6"]Non-Operating Income & Expenses[/TD]
[/TR]
[TR="class: finNorm"]
[TD="class: alignRight label, align: left"]Inter Expse,Net Non-Operat[/TD]
[TD="class: alignRight, align: right"](306)[/TD]
[TD="class: alignRight, align: right"](475)[/TD]
[TD="class: alignRight, align: right"](196)[/TD]
[TD="class: alignRight, align: right"](334)[/TD]
[TD="class: alignRight, align: right"](516)[/TD]
[/TR]
[TR="class: finSub"]
[TD="class: alignRight label, align: left"]Inter Income, Non-Operating[/TD]
[TD="class: alignRight, align: right"]104[/TD]
[TD="class: alignRight, align: right"]335[/TD]
[TD="class: alignRight, align: right"]227[/TD]
[TD="class: alignRight, align: right"]38[/TD]
[TD="class: alignRight, align: right"]4[/TD]
[/TR]
[TR="class: finSub"]
[TD="class: alignRight label, align: left"]Invest Income, Non-Operat[/TD]
[TD="class: alignRight, align: right"]--[/TD]
[TD="class: alignRight, align: right"]0[/TD]
[TD="class: alignRight, align: right"]0[/TD]
[TD="class: alignRight, align: right"](53)[/TD]
[TD="class: alignRight, align: right"](6,086)[/TD]
[/TR]
[TR="class: finNorm"]
[TD="class: alignRight label, align: left"]Inter/Invest Inc, Non-Oper[/TD]
[TD="class: alignRight, align: right"]104[/TD]
[TD="class: alignRight, align: right"]335[/TD]
[TD="class: alignRight, align: right"]227[/TD]
[TD="class: alignRight, align: right"](14)[/TD]
[TD="class: alignRight, align: right"](6,082)[/TD]
[/TR]
[TR="class: finNorm"]
[TD="class: alignRight label, align: left"]OtherNon-OperatInc (Expnse)[/TD]
[TD="class: alignRight, align: right"]859[/TD]
[TD="class: alignRight, align: right"]67[/TD]
[TD="class: alignRight, align: right"]93[/TD]
[TD="class: alignRight, align: right"]75[/TD]
[TD="class: alignRight, align: right"]45[/TD]
[/TR]
[TR="class: finTotal"]
[TD="class: alignRight label, align: left"]Other, Net[/TD]
[TD="class: alignRight, align: right"]859[/TD]
[TD="class: alignRight, align: right"]67[/TD]
[TD="class: alignRight, align: right"]93[/TD]
[TD="class: alignRight, align: right"]75[/TD]
[TD="class: alignRight, align: right"]45[/TD]
[/TR]
[TR="class: finGrandDaddy"]
[TD="class: alignRight label, bgcolor: #ECF7EB, align: left"]Income Before Tax[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](19,088)[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](23,833)[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](24,841)[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](18,628)[/TD]
[TD="class: alignRight, bgcolor: #ECF7EB, align: right"](23,343)[/TD]
[/TR]
[/TABLE]
 
You must log in or register to reply here.

Similar threads

I
Cozumel trip report staying at Paradise Condos and diving with Aldora Divers April 7-12, 2017
2
Replies
11
Views
4,405
Dave Dillehay
Dave Dillehay
mselenaous
Dive profit at the cost of conservation
2 3
Replies
26
Views
2,977
drbill
drbill
OnTheSpot
Sachika Trip Report
Replies
4
Views
2,016
OnTheSpot
OnTheSpot
Ricky B
Equipment failure and response: The free-flowing regulator
6 7 8
Replies
76
Views
19,682
BB`
BB`
Hintermann
Komodo Trip Report (June 2014)
Replies
9
Views
1,455
jake11
jake11
https://www.shearwater.com/products/swift/

Back
Top Bottom