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Reading: The bitter struggle for the shipwrecks’ “Holy Grail.”.
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Baner Club > Blog > Business > The bitter struggle for the shipwrecks’ “Holy Grail.”.
Business

The bitter struggle for the shipwrecks’ “Holy Grail.”.

It's been acclaimed as the world's most precious shipwreck.

Last updated: 2024/10/03 at 9:05 AM
Published October 3, 2024
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2 Min Read
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More than 300 years ago, the British sank the Spanish galleon, the San José, off the coast of Colombia. Billions of dollars’ worth of gold, silver, and emeralds were loaded onto it.

However, the question of who owns the treasure and what should be done with the wreckage remains hotly debated even years after it was found.

It is claimed by indigenous South American tribes, a US salvage corporation, and the Spanish and Colombian governments. The matter is currently before the Permanent Court of Arbitration at the Hague following legal battles in Colombia and the US.

According to the Colombian government, the ship’s remnants should be raised and displayed in a museum. The shipment may have a commercial value of up to $18 billion (£13. billion), according to treasure hunters.

However, archaeologists argue that the wreck and many more like it should remain in their current location. The San José is a graveyard, and we should treat it as such, according to maritime historians: almost 600 people perished when the ship capsized.

Historian Carla Rahn Phillips, who has authored a book about the San José, adds, “It’s a great mess and I see no easy way out of this.” The government of Colombia, the Spanish state, the several indigenous groups, and the treasure seekers.

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