Lost treasure that was found in Indonesia is still lost in a financial sea after not being purchased at an auction. Gold, jewels and porcelain were found on a 10th-century shipwreck. Investors from Asia were interested in buying the lost treasure, but the auction failed to impress.

The main problem may have been the exorbitant deposit fee to even make a bid, $16 million U.S. Perhaps the global economy isn’t ready to throw around that kind of money for lost treasure after the massive recession that is still underway.

Investors were only given 5 days to decide on the auction, making the $16 million deposit a risky, spontaneous venture.
The treasure is also one of the biggest found in Asia, ever, but the problems began from the beginning. Two of the divers that found the treasure were arrested and jailed for a month over miss-communications in permits, etc.

“According to the (regulations), there could be three auctions. If those fail you can go to an international auction outside the country,” stated Belgian treasure hunter, Luc Heyman, of Cosmix Underwater Research Ltd.

Treasure of this size might make it less exclusive and in-demand by investors. Between the size of the porcelain, gold and jewels and the stigma that was generated from the beginning, this treasure may continue to be lost for a few more years.
“All the major problems began after we got the stuff on shore,” stated Heyman.
Source: huliq.com