In late 1686, Sir William Phipps convinced investors to fund an expedition to what is now Haiti and the Dominican Republic to find sunken treasure, despite the location of the shipwreck being based entirely on rumor and speculation. In January 1687, Phipps found the wreck of the Spanish galleon "Nuestra Señora de la Concepción" off the coast of Santo Domingo. Some sources say they used an inverted container for the salvage operation while others say the crew was assisted by Indian divers in the shallow waters. The operation lasted from February to April 1687 during which time they salvaged jewels, some gold and 30 tons of silver which, at the time, was worth over £200,000.