Hunting for liquid assets

On 04/07/2009
In Treasure Hunting / Recoveries
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By Keyonna Summers - Florida Today

For more than 17 years, Greg Bounds has made a pretty decent living scouring the ocean off the Brevard County shoreline for trinkets and treasures left by ships that sailed hundreds of years ago.

But with the recent economic downturn -- and fewer investors chipping in or not contributing as much as before -- Bounds said he is among a growing number of treasure hunters who will have to come up with creative ways to offset costs until they score their next big find.

For Bounds, that includes hiring out himself and his crew to curious divers for all-day treasure-seeking excursions off Sebastian Inlet - lunch and equipment included - for $300 per person.

Funding a treasure-hunting boat and equipment for surveying and mapping shipwrecks can add between $50,000 and $60,000 - a low budget compared with some large operations, which might have costs of up to $1 million, he said.