For the past 65 years, treasure hunters have dreamed of getting at the treasure that went down with the liner Titanic when it sank on its maiden voyage in 1912.
For the past 65 years, treasure hunters have dreamed of getting at the treasure that went down with the liner Titanic when it sank on its maiden voyage in 1912. But the ship is in 10,000 feet (3,050 metres) of water and the immense cost of salvaging it has deterred even the most wealthy promoters. However, three West Berlin financiers have come up with the idea of leaving the Titanic where it is, and merely taking the treasure from it. The ship was reported to be carrying jewellery and precious stones, which, at today's values, would be worth about five million pounds sterling (about eight million US dollars).
SYNOPSIS: The Titanic was the largest and most luxurious liner afloat when it left the British port of Southampton for New York in April 1912. It had a double-bottomed hull divided into 16 watertight compartments, and was called 'the unsinkable ship'. But it collided with an iceberg. A 300 foot (about 91.5 metres) gash was ripped in the liner's side, rupturing five of its watertight tanks, and the ship sank in two hours with the loss of several hundred lives. However Thomas Gfroerer, one of the West Berlin financiers, thinks a partial salvage operation is possible-and worthwhile.
Herr Gfroerer is in partnership with Herr Joerg Woltermann and Herr Joerg Sommerfeld Most of the finance for the project will come from the West German money market. The international laws concerning ownership of salvage goods are very complex. But the three West Berliners are confident that if they can raise the strongroom, they shouldn't have too much trouble in laying claim to any jewellery or precious stones.