There are a few exceptions like Mel Fisher, but most of the time the real treasure in treasure hunting is in getting investors.
If a "Treasure hunter" can get investors to support his "Search" or a TV show to bankroll him then he has found his treasure. Then the longer he can drag things out and keep making promises he knows he can not keep the more $$$$ he makes.
There is also money in leasing an area to treasure hunters. In Menard TX where treasure hunters have searched for Jim Bowie's silver mine some landowners have made a good living off leasing their land. One land owner was quoted as saying, "Some land owners make money off oil leases, I make money off leasing my land to treasure hunters."
In the past a treasure hunter would lease property then claim some sort of deep metal detector or something else showed there was gold or silver on the property and then use that claim to get investors.
If a "Treasure hunter" can get investors to support his "Search" or a TV show to bankroll him then he has found his treasure. Then the longer he can drag things out and keep making promises he knows he can not keep the more $$$$ he makes.
There is also money in leasing an area to treasure hunters. In Menard TX where treasure hunters have searched for Jim Bowie's silver mine some landowners have made a good living off leasing their land. One land owner was quoted as saying, "Some land owners make money off oil leases, I make money off leasing my land to treasure hunters."
In the past a treasure hunter would lease property then claim some sort of deep metal detector or something else showed there was gold or silver on the property and then use that claim to get investors.