The First Art Newspaper on the Net   Established in 1996 United States Tuesday, July 23, 2019


Colombia, Spain in diplo-row over sunken treasure trove worth an estimated $2 billion
"There are discrepancies on the issue of legal ownership," said Spain's Foreign Minister Jose Manuel Garcia-Margallo. AFP Photo.


BOGOTA (AFP).- Billions of dollars in gold and silver from an 18th century shipwreck have left Spain and former colony Colombia at odds over who rightfully owns the loot.

The disagreement is over the "San Jose," an treasure ship wreck that Colombia located recently off the coast of Cartagena de Indias, its old Caribbean port city.

The "San Jose" sank in June 1708 near the Islas del Rosario, during combat with British ships attempting to take its cargo, as part of the War of Spanish Succession.

The Spanish galleon was the main ship in a treasure fleet carrying gold and silver -- likely extracted from Spanish colonial mines in Peru and Bolivia -- and other valuables to King Philip V.

President Juan Manuel Santos announced in early December that experts had found the "San Jose" on November 27 in a place never searched before.

So who owns the estimated $2 billion in loot?

"There are discrepancies on the issue of legal ownership," said Spain's Foreign Minister Jose Manuel Garcia-Margallo.

He met Saturday with his Colombian counterpart María Angel Holguin in Cartagena.

Spain in part has based its arguments on UN Law of the Sea rules. But Colombia is not a signatory to the treaty, and as such not subject to those regulations.

The Spanish diplomat said that he was hoping a "roadmap for an understanding" could be hammered out given the countries' excellent relations.

"This is not going to become an issue that divides us," Holguin stressed, while acknowledging legal disagreements remained.

Only a handful of the ship's crew of 600 survived when the "San Jose" sank. 

Treasure hunters had searched for the ship, described by some as the holy grail of wrecks, for decades. 

A team of Colombian and foreign researchers, including a veteran of the group that discovered the wreck of the Titanic in 1985, studied winds and currents of the Caribbean 307 years ago and delved into colonial archives in Spain and Colombia searching for clues.

The loot is estimated to be worth at least $2 billion, its value having dropped significantly due to the falling price of silver, according to US-based company Sea Search Armada.

SSA, whose subsidiary claimed in the early 1980s that it had found the galleon's final resting place, was engaged in a long-running battle with the Colombian government.

The find was not confirmed and a US court ultimately ruled it was Colombian property.

Colombia, not surprisingly, agreed.



© 1994-2015 Agence France-Presse





Today's News

December 20, 2015

Scanning Sobek: Mummy of the crocodile god on view at the British Museum in London

Blanton Museum at the University of Texas announces upcoming reinstallation of collection

One of the New York Philharmonic's longest-serving music directors, Kurt Masur, dies at age 88

Pop Art Design: Museum of Contemporary Art Chicago pairs design objects with artworks

Guarding the skeletons of more than 185 wooden steamships of Mallows Bay

Crocker Art Museum acquires John “Jack” Frost "The Beach, Santa Monica"

German teachers want edited 'Mein Kampf' on curriculum to "inoculate" teenagers

Colombia, Spain in diplo-row over sunken treasure trove worth an estimated $2 billion

"Vivian Maier: Photographs from the Maloof Collection" on view at KP Projects/MK Gallery

Wildly popular SeaGlass carousel at The Battery attracts over 100,000 riders since its opening

France remembers centenary of the birth of Edith Piaf in shadow of Paris attacks

"Picturing Winter: Paintings by American Artists" on view at the Arkell Museum

Lichtenstein's "Nude Reading" achieves $95,000 plus Asian prices and musical instruments soar at Clars

No one wants opera? Just expose people, say two stars

Spink announces results from its The Philatelic Collector's Series sale

Eastern and western cultures collide in Jiha Moon exhibition

Europa Nostra supports the call to suspend demolition affecting the Serres d'Auteuil Botanical Gardens

NEH awards grant to Carnegie Museum of Art for digital provenance project

Kaminski Auctions' annual New Year's Estates Auction to be held December 26th and 27th

Major new art works installed at Hobby Airport in time for holiday travelers

Inaugural 100K Prize winner's photomontage series exhibited in its entirety

Panoramic survey of intimately scaled collages and constructions on view at Pavel Zoubok Gallery

Most Popular Last Seven Days



1.- Original 'Star Wars' creators lift lid on special effects challenges

2.- Lost '$170 million Caravaggio' snapped up before French auction

3.- Mansell's 'Red Five' on pole for Bonhams sale

4.- Impressionism's 'forgotten woman' shines in new Paris show

5.- Sotheby's to auction the best-surviving NASA videotape recordings of the Apollo 11 Moon Landing

6.- Exhibition explores Dutch and Spanish painting of the 16th and 17th centuries

7.- Cyprus discovers 'first undisturbed Roman shipwreck'

8.- Sotheby's unveils 'Treasures from Chatsworth' with Leonardo Da Vinci drawing, Lucian Freud portraits, and more

9.- Infamous botched art restoration in Spain gets makeover

10.- 1958 Gibson Flying V Korina played by Dave Davies to grab center stage in Heritage Auctions' sale



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 

Founder:
Ignacio Villarreal
Editor & Publisher:Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez


Royalville Communications, Inc
produces:

ignaciovillarreal.org avemariasound.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful