What is the current, estimated value of treasure believed to be at the bottom of the oceans ?

Update:

Hey Guys

Sadly Chεεrs is not within the community for the next week. As a result I have been asked (as a friend) to place the question into community voting.

Chεεrs did however ask that I post the following:

"Sorry I'm not here to pick a best answer guys, however thank you for all of the informative comments and answers. Once more I would also like to thank Ask Mike for the free advertisement. I enjoyed reading your answers, and would have loved to have picked a best answer...but there is always next time"

26 Answers

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  • 1 decade ago
    Favorite Answer

    Greg Stemm, co-founder and co-chairman of Odyssey has said, "There's billions of dollars scattered on the ocean floor - that's a fact - and we have the technology to find it," Tens of billions or hundreds of billions would be the same referenced as billions i.m.o. Now if by treasure you mean the precious metals, etc, then yes that works for you.

    However if you mean "treasure" as in valuables, you have to take into account that much of the bottom of the world's oceans are unexplored and unmapped. Global imaging shows the depths to max at 6 miles, crushing depths. There are 5 sections of one ocean, of which are politically/continently separated. What's down there is really unknown to us, there could even be gold or diamond mines that far surpass what anyone on this earth could currently imagine. That's just a start, the value couldn't be priced, it would be like putting a price on the moon.

    Source(s): A money.cnn.com article, some wiki reference because it's early, one intense powerpoint for World Geo I did, and studying for another Geo class I'm starting today.
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  • That depends on what you define as "treasure." To history buffs like me, finding old Roman statues, sunken ships without treasure, any historical tidbit would be a Godsend of a treasure. These things, especially statues and whatnot, tend to be auctioned around in the higher circle, so you could of course assign a value to them.

    Then, there are those who would consider ancient fossils to be a wonderful find, treasure, if you will. These things, too, can have a monetary value assigned to them, as I am sure there would be someone willing to pay big bucks for a T-rex to add to their private collection.

    There could possibly be prehistoric gold / silver / diamond mines in the ocean floor, so in addition to all of the monetary / jeweled treasure that you are probably talking about, there's always the kind that was never mined.

    So really, the answer to your question depends on one's definition of "treasure," because I, for one, would think I had found treasure if I found anything I have mentioned.

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  • Anonymous
    1 decade ago

    I'm no economist, but I would imagine the answer would be dynamic.

    For example, to simplify things, let just say that we were only talking about what is typically romanticized about as being treasure (ie. gold, silver, and gems). If we were to just dig it up and count it, I would guess in the trillions. One ship alone, the HMX Sussex was carrying 4 billion in gold and silver when it sunk.

    But we also have to consider that if we were to retrieve that amount of gold, silver and so forth we would never get nearly the mount that it would be worth. The more we sell, the more of the product we will put into the market, and thus will decrease the value of everything. With that much cold and silver on the market, we might just decrease its value to make the total actual value of everything down to the billions.

    Ofcourse, we could also consider other things to be treasure such as the pistol of a 18th century british soldier, a wine glass from the titanic, old document that might still be in tact, etc. If we add this stuff into the equation, it is anyone's guuess. But I am sure it would be plenty enough to offset the decreased value caused by flooding the market with gold and silver.

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  • Anonymous
    1 decade ago

    Well, I found asite with some info on it saying "The amount of treasure that has been lost under the sea has been estimated at many millions of dollars."

    I put the site in my sources it is a good article. Cya later.

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  • 4 years ago

    A treasure that illuminates that hearts and souls of those who dare to venture into the deep to find it. Many will search but will give up because of the depth they have to travel, only a chosen few will ever find this treasure and when they do they embrace its......

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  • 1 decade ago

    Hi! Cheers[uk],

    The Yahoo! Answers have made a blog to your question. I think they send it to you.

    This is what they have said to you:

    "Knowing my best efforts would probably be fruitless, I still went and searched for an answer. I found an article from MSNBC on a recent discovery of treasure at the bottom of the Atlantic. Explorers brought it to the surface and found the loot to be worth $500 million bucks. Not a bad haul, but compared to all that’s out there, really just a drop in the bucket.

    After some more searching, I found pay dirt. Well, kind of. An article from CNN estimates that the value of treasures under the world’s oceans range from billions to trillions of dollars. Furthermore, the article speculates that new technology will help folks recover nearly all that loot over the next “10 to 20 years.”

    For some reason, all that treasure being brought to the surface strikes me as kind of sad or unromantic. But, on the bright side, at least we’ll finally have an answer to Cheers UK’s question."

    http://yanswersblog.com/index.php/archives/2008/06...

    *Note: Not my own answer.*

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  • Anonymous
    1 decade ago

    Well if you consider that its estimated about one 10th of the treasure has been salvaged and its worth about $20,000,000,000 equivalent of todays prices that means there is $ 200 billion worth of items out there. Because though most of these items would also be hitoric items i would double the worth to $400 billion. Then of course if you were smart you would auction the items and make about half a trillion. But these are just estimates and if gold goes up or down a couple $$$ you make more or less billions. Hope i helped.

    Source(s): I find an interest in this stuff and the history channel said one time the 1/10 and 20,000,000,000 worth of treasure found. I calculated the rest.
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  • 3 years ago

    1

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  • Dear Cheers,

    I have contacted some people via my own connections and links and now I have a pretty exact number of dollars under that ocean for you. There are c. 19900000000739985743646217433 dollars out there. I cannot reveal the name of the person who gave me this information by as you can see in my profile, I know some rather famous people!!! Good Luck.

    Toni

    Source(s): This is a very interesting question. Thank you very much for posting!!!
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  • 1 decade ago

    I guess it would depend on what you believe to be treasure as I believe it's different for everyone. It could mean actual gold, currency, jewels..etc... or it could also mean sunken ships or sea life. People put value (some emotional some physical) on a different number of things.

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