$Odyssey Marine Exploration (OMEX.US)$ John Morris and Greg ...

$Odyssey Marine Exploration (OMEX.US)$ John Morris and Greg Stemm, Americans, founded Odyssey Marine Exploration Company in 1997 to find treasure underwater. The company's main business is underwater shipwreck searches and salvage operations, earning wealth by selling salvaged shipwreck items.

According to UNESCO predictions, there are a total of 3 million shipwrecks worldwide. But according to Stem's estimates, there are less than 1000 shipwrecks worth having underwater robots worth 4 million dollars to search for. Stemm said, 'There is billions of dollars worth of treasure scattered on the seabed, this is a fact, and we have the technology to find them. The business model is simple, but the implementation process is complex.'

Specialize in deep-sea gold mining.

The goal of Odyssey company is to find enough shipwrecks to sustain the company's business development. Every Thursday, the company holds a proposal meeting. At this meeting, the company's researchers responsible for studying various sea areas will report to everyone their opinions and ideas extracted from studying ancient maps and navigation logs, which is a lengthy process.

Unlike general underwater exploration, Odyssey company focuses mainly on the exploration of deep-sea shipwrecks. Deep-sea shipwrecks are often better preserved and less scattered than those in shallow waters, and the possibility of them being salvaged previously is also lower. The difficulty in accessing shipwreck sites ensures the safety of the exploration work. More importantly, due to the thin oxygen and dim light in the deep sea, art pieces in shipwrecks are usually well-preserved and can usually be sold at a good price if salvaged. In 2003, Odyssey company salvaged the "SS Republic" that sank during the American Civil War. By the end of 2006, Odyssey company had sold coins worth $33 million from the "SS Republic", but that was not all. "It will probably take us about 20 years to sell all the coins on the 'SS Republic'." Strom admitted.

People often refer to deep-sea shipwreck exploration companies like Odyssey as "treasure hunters". Compared to professional archaeologists, the goal of these treasure hunters is not to discover art pieces, but to turn these underwater treasures into money through various means.

To achieve this goal, Odyssey has done a lot of work to stimulate public interest in shipwrecks. They produce television programs that combine historical reviews with the search and salvage process of shipwrecks, post video clips documenting the salvage process online, provide replicas of salvaged coins or art pieces to the audience, and showcase the art pieces from shipwrecks in various exhibitions.

The sale of replica art pieces, including jewelry, iconic souvenirs, books, videotapes, and other related products, is another way for the company to make money, and its share is gradually increasing. Currently, these products can be purchased from Odyssey's website.

The income from hosting related exhibitions is also considerable. Usually, the company holds exhibitions in large cities for about 4 to 6 months, and in smaller cities for several weeks, and the exhibitions also promote the auction of shipwreck items. In addition, the company's income from intellectual property rights is increasing. If people need to use images of shipwreck items in television, movies, books, videos, and photos, they must pay the related fees to Odyssey.

The allure of underwater wealth

Odyssey company is located near the headquarters in Florida, with a low-rise building whose central wall is covered with photos about the underwater world. Among them, there is a tempting photo called "Golden Carpet", showing the "SS Republic" covered in coins. This is the storage center where Odyssey company keeps most of the salvaged shipwreck items. On the public shelves are placed vintage medicine bottles, small cups, religious art pieces, ceramics... Odyssey is eager to share these "storied" treasures.

However, in underwater archaeology, apart from the high cost (almost 12 times that of land archaeology), the most important thing is to avoid interference from foreign governments. As Professor David Burdman, member of the board of directors of Odyssey and an expert in maritime law, said: "This industry has always been ignored unless someone finds something valuable. If you are lucky enough to find something valuable, everyone will assert their sovereignty, regardless of its legality."

In 2007, Odyssey salvaged the "Black Swan" from the seabed 3,600 feet below the surface of the international waters 100 miles west of Gibraltar. This salvage project shocked the world and was hailed by Western media as the "largest underwater treasure discovery in history", with a total of 17 tons of gold coins recovered, worth 0.5 billion US dollars. However, this salvage operation was interfered by the Spanish government and military, who claimed that Odyssey salvaged a Spanish merchant ship. Subsequently, both parties went to court to fight for these properties.

Later, as part of an agreement with the United Kingdom, they salvaged a sunken ship named the "Sussex". It is estimated that this ship has a staggering value of 1 billion US dollars.