Man trying to sell original OceanGate sub for $800k fears it will never be sold

The broker is currently attempting to sell The Antipodes submersible, but now they are concerned that due to the disaster on the Titan, it will be extremely difficult to find a buyer for it.

While I must confess that I don't possess extensive knowledge about the submersible sales market, it doesn't require an expert to realize that being associated with a highly publicized submersible tragedy would likely hinder the sale of a vessel.

However, this is precisely the predicament faced by a submersible broker who possesses a vessel named The Antipodes.

This particular vehicle has a transparent acrylic sphere at the front and is specifically designed to descend to depths of approximately 1,000 feet. It is listed for just under $800,000, which falls within the typical range for submersible sales.

Nevertheless, there exists a solitary issue.

The submersible in question is the inaugural vessel operated by OceanGate, the company involved in the tragic Titan incident where five individuals lost their lives during an ill-fated expedition to explore the wreckage of the Titanic.

Steve Reoch, a broker, confirmed to Insider that the submersible is listed for sale at a price of $795,000. However, he now harbors concerns that it will never be sold, expressing, "I want no association with it."

Furthermore, he anticipates being entangled in legal disputes for an extended period, despite the submersible boasting an impressive safety record and being utilized for numerous trips.

The Antipodes, constructed by Perry Submersibles in 1973, is currently berthed at OceanGate's headquarters located in Everett, Washington.

Recent revelations indicate that OceanGate CEO Stockton Rush had intended to employ the ill-fated Titan submersible for deep-sea oil and gas extraction. His plan involved utilizing the Titanic expeditions as a means of validating the technology, as he stated to Fast Company magazine, "The primary resource is oil and gas. However, the oil and gas industry hesitates to adopt new technology without prior proof and widespread implementation."

"The primary value lies in the long-term commercial aspect. Adventure tourism serves as a means to monetize the process of validating the technology. Transitioning from a startup to an ongoing business occurs through our endeavors with the Titanic."

Deep sea mining represents an experimental frontier in the mining industry and has faced significant criticism due to its potential for environmental damage.

Greenpeace has published information regarding deep sea mining, stating, "Companies engage in extracting metals from the seabed and selling them to industries that require increasing quantities of manganese, cobalt, nickel, and copper for one simple motive: profit. To them, the ocean is merely another frontier to exploit for financial gain.

"Mining companies argue that they need to extract minerals from the seabed to manufacture batteries for the transition towards renewable energy sources, moving away from fossil fuels. However, mining one of the few remaining untouched ecosystems on Earth can never be considered 'green'."

---