RMS Titanic of the sinking, photos were released showing possible human remains resting on the ocean floor. The photos, taken by Robert Ballard during an expedition led by NOAA in 2004, show a boot and a coat close to "Titanic"'s stern which experts called "compelling evidence" that it is the spot where somebody came to rest, and that human remains could be buried in the sediment beneath them. The wreck of the "Titanic" falls under the scope of the 2001 UNESCO Convention on the Protection of the Underwater Cultural Heritage. This means that all states party to the convention will prohibit the
Wreck of the RMS Titanic but the plans were abandoned for financial reasons. The following year, the British billionaire financier and tycoon Sir James Goldsmith set up Seawise & Titanic Salvage Ltd. with the involvement of underwater diving and photographic experts. His aim was to use the publicity of finding "Titanic" to promote his newly established magazine, "NOW!". An expedition to the North Atlantic was scheduled for 1980 but was cancelled due to financial difficulties. A year later, "NOW!" folded after 84 issues with Goldsmith incurring huge financial losses. Fred Koehler, an electronics repairman from Coral Gables, Florida, sold his electronics shop to finance the