Photos released last year offer a tantalising glimpse of the treasure onboard, including gold coins and perfectly preserved porcelain tea cups. Many items are so intact that the original manufacturing inscriptions can still be read, even after 300 years underwater. All told, the treasure is believed to be worth an incredible $17 billion (£13.5bn). But who has a claim to the remains of San José?

According to international law, the wreckage and all its riches reportedly belong to Spain. But the Colombian government has also claimed it owns the ship, while several US firms who say they helped lead authorities to San José have sued for a portion of the proceeds. (Colombia has denied these companies provided any useful information).

San José is reportedly set to be raised by the end of the current Colombian president's term in 2026, meaning there are just three years for the ship's latest battle – this time, over its ownership – to be resolved.

9 incredible shipwrecks full of treasure now being excavated