This article surveys the international salvage law regimes in 2013, and analyzes the economic incentives provided by the laws. Part II traces the history of the SS Gairsoppa and chronicles the service of the vessel, its eventual sinking, and the contracted salvage agreement that led to the vessel’s recovery. Part III details the applicable laws governing international historic salvages including traditional international law, and international treaties. Part III also analyzes the economic incentives of the current legal regime. Part IV discusses the alternative of contracted historical salvage operations and the advantages, both legal and economic, for states to enter into contracted salvage.
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