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Editor: Rod Sullivan
Profession: Maritime Attorney

Category: Safety at Sea

Over 1800 artifacts from the R.M.S. Titanic have been raised and shown in museums around the world. Chicago's Museum of Science and History sells out its ticket sales on a regular basis. However, the question has arisen: can the artifacts be sold?

Under the law of salvage, which includes treasure salvage, the salvor has a lien on the property he recovers--he doesn't own it. The original owner retains title to it. This has resulted in some curious outcomes.

When Spanish galleons are located, the government of Spain, which didn't exist in the 1600's, claims that as the original owner, it is entitled to have its property returned, after paying off the salvage lien. When the Central America sunk in 1857 with a load of California gold rush proceeds aboard, New York and London insurance companies paid a fortune in claims and then took the rights to the sunken wreck from the owners. Unfortunately, until the modern invention of specialized sonar equipment, the wreck remained lost. Once it was found, at least one of the insurers lost its claim because someone had cut the pages containing the insurance certificate from its book of certificates as a souvenir.

In modern salvage the salvor rarely gets over 50% of the value of the property saved. In salvage of treasure, that figure can go up to 90%. But it is never 100%. Finders keepers only works on the playground, not at sea.

The court which has jurisdiction over the Titanic's salvor-in-possession has ordered that the artifacts not be sold. Consequently, the salvor will have to rely upon replica sales and museum store sales to recover its investment, at least for the time being.