{"id":10923,"date":"2014-05-09T09:00:13","date_gmt":"2014-05-09T13:00:13","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=10923"},"modified":"2014-05-09T08:09:52","modified_gmt":"2014-05-09T12:09:52","slug":"the-economics-of-treasure-hunting","status":"publish","type":"post","link":"https:\/\/www.Centives.net\/S\/2014\/the-economics-of-treasure-hunting\/","title":{"rendered":"The Economics Of Treasure Hunting"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2014\/05\/050914_1205_TheEconomic1.jpg\" alt=\"\" width=\"646\" height=\"461\" \/><\/p>\n<p>People sink (heh) incredible amounts of money into expeditions to recover precious cargo from sunken ships. It&#8217;s a breathtakingly bad investment write Peter B. Campbell &amp; Rodrigo Pacheco-Ruiz:<\/p>\n<ul>\n<li>Investors are convinced to fund such expeditions due to incredible estimates of the potential wealth in the cargo hold of a sunken ship.<\/li>\n<li>However these estimates are almost always wildly exaggerated. One ship&#8217;s treasure was meant to be worth $400 million. To date as little as $13 million has been extracted.<\/li>\n<li>Moreover the first coin found on a wrecked ship might be worth a lot of money. If there are 50,000 of those coins then it quickly becomes a flooded market and each coin is worth little.<\/li>\n<li>This helps explain why the shares of companies that specialize in treasure hunting usually trade for mere pennies.<\/li>\n<li>It is also indicative that mineral extraction companies who are experts at deep water operations have never tried their hand at salvaging lost artifacts.<\/li>\n<li>The business is only going to get harder. The 2001 UNESCO convention protects any shipwrecks over 100 years old and governments have independently been cracking down on the activity.<\/li>\n<\/ul>\n<p>Read more about treasure hunting, some famous wrecks that have come to disappoint, the one treasure hunting company that still does alright, and more over <a href=\"http:\/\/www.bloombergview.com\/articles\/2014-05-07\/treasure-hunting-is-the-world-s-worst-investment\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/www.bloombergview.com\/articles\/2014-05-07\/treasure-hunting-is-the-world-s-worst-investment\">Bloomberg<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>People sink (heh) incredible amounts of money into expeditions to recover precious cargo from sunken ships. It&#8217;s a breathtakingly bad investment write Peter B. Campbell &amp; Rodrigo Pacheco-Ruiz: Investors are convinced to fund such expeditions due to incredible estimates of the potential wealth in the cargo hold of a sunken ship. However these estimates are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"https:\/\/www.Centives.net\/S\/wp-content\/uploads\/2014\/05\/050914_1205_TheEconomic1.jpg","_links":{"self":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/10923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=10923"}],"version-history":[{"count":3,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/10923\/revisions"}],"predecessor-version":[{"id":10926,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/10923\/revisions\/10926"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/10922"}],"wp:attachment":[{"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=10923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=10923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=10923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}