On
The sale is subject to certain covenants and conditions to ensure the collection will be properly maintained and available for public display. Also included in the sale are important archeological assets created by RMS Titanic, Inc. on the eight research and recovery missions it has conducted at the Titanic site more than 12,000 feet below the ocean surface. These assets include, among other things, video of the dives, 3D images of the ship, and the first and only comprehensive survey map of the wreck site. The purchaser may also have the opportunity to assume the role of steward of the Titanic, to protect and preserve the wreck site for future generations.
Over the next 25 years, seven additional research and recovery expeditions produced more than 5,000 artifacts, in addition to an extensive and unprecedented array of still and video imagery of the ship, wreck site, and recovery efforts.These artifacts have undergone an extensive and meticulous conservation effort ever since. The importance of this collection is reflected in a 2007 appraisal in which the artifacts and certain elements of RMS Titanic, Inc’s intellectual property, also a part of this auction, were valued at $189 million.
Mark Sellers, Chairman of Premier Exhibitions, Inc. and RMS Titanic, Inc., said, “Titanic is slowly being consumed by iron-eating microbes on the sea floor and, at some point in the not-too-distant future, it will be only a memory. Many of the artifacts we’ve brought up from the site would have disintegrated and been lost forever had this company not risked life and limb, and spent millions of dollars and countless hours to raise and rehabilitate them using cutting-edge conservation techniques. We are proud of what we have accomplished as salvor-in-possession of the wreck site and we believe we have faithfully honored the legacy of those who were lost. After all of these efforts, we have determined that the time has come for us to transfer ownership of this collection to a steward who is able to continue our efforts and will preserve and honor her legacy.
This is definitely going to be a successful auction. Of course we will bring you updates on all auction details. In the meantime enjoy our sneak peek below…