- Oct 26, 2004
- 24,645
- 24,452
- 🏆 Honorable Mentions:
- 2
- Detector(s) used
- Minelab Explorer
- Primary Interest:
- Shipwrecks
http://news.morningstar.com/news/DJ/M04/D28/200604281205DOWJONESDJONLINE000952.html (Make sure you grab the "html" at the end of this site reference.)
Deep Blue Marine Inc.
Good advice is offered in this (referenced above) copywritten Dow Jones and Comany article. However, I take exception, actually two exceptions, to the sentence that reads "Investors have to face facts; an "underwater recovery specialist" only makes money when it actually recovers something."
Exception #1: "Recovering something" of historic and/or of monetary value is no assurance of making any money unless you can sell it--or induce investors to invest more based on your finds and/or your preceived ability to effectively search and recover. For example, sometimes authorities can put on indefinate hold your ability to sell anything. Also, conservation of the artifact, if required prior to a sale, may also take a year or more.
Exception #2: "Making money" is not the same as "making a profit". It's tough enough to find anything. It's tougher to make a profit after the sale--IF all costs are considered. You might make 50k on some finds, but if it cost (say) 80k to get to that point, you've 'made money' but what profit have you made?
Thankfully, this hobby/businss provides us with invaluable intangible assets that can never be sold or discounted: The experience of the hunt (including researching) and the elation of finding a piece of history.
Don....
Deep Blue Marine Inc.
Good advice is offered in this (referenced above) copywritten Dow Jones and Comany article. However, I take exception, actually two exceptions, to the sentence that reads "Investors have to face facts; an "underwater recovery specialist" only makes money when it actually recovers something."
Exception #1: "Recovering something" of historic and/or of monetary value is no assurance of making any money unless you can sell it--or induce investors to invest more based on your finds and/or your preceived ability to effectively search and recover. For example, sometimes authorities can put on indefinate hold your ability to sell anything. Also, conservation of the artifact, if required prior to a sale, may also take a year or more.
Exception #2: "Making money" is not the same as "making a profit". It's tough enough to find anything. It's tougher to make a profit after the sale--IF all costs are considered. You might make 50k on some finds, but if it cost (say) 80k to get to that point, you've 'made money' but what profit have you made?
Thankfully, this hobby/businss provides us with invaluable intangible assets that can never be sold or discounted: The experience of the hunt (including researching) and the elation of finding a piece of history.
Don....
