Mark Hargitt’s Marine Services Pre-Shark Tank
In the Shark Tank, a weathered sailor named Mark Hargitt represents Hargitt Marine Services. Using nautical jargon like “ahoy” and “scuttlebutt,” he describes himself as a treasure hunter. And indeed, this seasoned explorer has discovered 1200 tons of copper, silver, and gold ore in the wreckage of the Mariposa, a ship that sank nearly a century ago off the Alaskan coast. He proudly presents a video of his deep-sea dive into the Alaskan depths.
The video reveals dense kelp and powerful currents, and Mark narrates his experience. To combat the strong currents, he has to manually descend the anchor chain. With determination, he uncovers various artifacts, including a fire brick. While Robert finds the video fascinating, Daymond seems less enthralled.
Mark Hargitt’s Marine Services on Shark Tank
Mark Hargitt, the visionary behind Hargitt Marine Services, seeks a $250,000 investment in exchange for a 25% stake in his business. Mark is unlike any other entrepreneur to enter the Shark Tank before. Barb inquires about the return on their investment, to which Mark responds that they will receive 25% of “the booty,” consisting of a diverse collection of artifacts and ore. Mark estimates the wholesale value of the ore to be around $2.5 million, assuming he can gather it all without waste and with the proper equipment.
Robert questions Mark’s valuation method, to which Mark explains he conducted extensive research. As an amateur nautical historian with a lifetime of experience in the marine industry, Mark humorously refers to himself as the “seventh son of the seventh son of a son of a son of a sailor.” Kevin asks if Mark is the sole possessor of the shipwreck coordinates, to which Mark denies, stating that the Mariposa shipwreck is quite well-known. When Mark Cuban asks why the ship hasn’t been salvaged earlier, Mark reveals that various salvage attempts have already taken place. Daymond inquires about Mark’s rights to the treasure, and Mark explains that he has obtained mineral rights from the State of Alaska, as the minerals have returned to the Earth.
Curiosity arises about Mark’s certainty regarding the presence of the ore. Mark opens a cooler he brought with him, revealing a variety of rocks containing the minerals he boasted about. He explains that all the enclosed rocks are copper, which prompted the Sharks to question the unpleasant smell emanating from the ore. Mark clarifies that the ore has been submerged in salty seawater for years and was only recently removed. He adds that some of the ore has already been smelted, making it denser and easier to work with.
Robert seeks clarification on Mark’s assumption of the ore’s quantity and questions whether others have salvaged from the same ship. Mark admits that previous salvage attempts have picked the “cherries off” by retrieving artifacts such as the propeller, the Mariposa’s steering wheel, and its whistle. When Robert asks if Mark believes the entire 1200 tons remain, Mark confidently states that he sees no reason why not. The ore hasn’t shifted elsewhere. Grizzled Mark reveals that they have salvaged a few hundred pounds by hand so far. Mark estimates that salvaging the entire motherlode, using an “Abductor” underwater vacuum cleaner-like system he plans to create, would take just over a week.
If invested, Mark intends to use the Sharks’ funds to acquire equipment, hire a crew, implement the abductor system, rent a barge, and procure shark repellant. The Sharks find amusement in the fact that Mark has come face-to-face with real sharks rather than just venture capitalists. Kevin points out that if he were to invest in treasure hunting, he would have numerous competitors to consider after conducting due diligence.
Kevin seeks to understand what sets Mark apart from other competitors. Grizzled Mark emphasizes that he is the captain, owner, and first diver of Hargitt Marine Services, boasting 21 years of experience in marine operations. Throughout his career, Mark has saved countless lives and ships. He firmly believes that, with the Sharks’ support, he can successfully embark on this venture. However, Barb questions whether there is an official authority that treasure hunters like Mark could approach. Mark acknowledges this fact, admitting that Shark Tank is actually his “plan C.”
Mark reveals that his previous options were to do the salvage work manually (plan A) or to withdraw money from his early retirement fund (plan B). He currently has half a million dollars saved, which he is willing to invest in the necessary equipment. Robert confirms that Mark holds exclusive mineral rights for the ship’s contents, granted by the State of Alaska. Robert suggests that Mark could potentially sell these rights to a larger salvage company. Mark ponders this idea, acknowledging its feasibility.
Mark Cuban expresses his frequent encounters with treasure hunters and their ambitious plans. However, he remains grounded in reality and opts out of the investment opportunity first. Daymond expresses his fondness for the concept, finding the idea of underwater treasure retrieval quite romantic. He jokingly suggests donning an eyepatch and speaking like a pirate during the dive. Mark invites any potential investors to join him, but Daymond acknowledges his lack of expertise and exits the deal. Mark then extends an invitation for the Sharks to become part of his crew.
Robert reveals his deep passion for boats, having been a certified diver since the age of 16. He even ran away from home at 17 to join the Navy. However, he explains that he cannot see a safe return on his investment with this opportunity and thus declines. Barb points out her lack of knowledge in this field, admitting that she would have to place complete trust in Mark. She adds that the deal lacks sex appeal, as she expected to see priceless jewels when Mark opened the cooler, but was met with lumpy rocks in odd colors. Uninspired, Barb leaves the deal.
Kevin remains the sole remaining Shark. He acknowledges Mark’s uniqueness but ultimately fails to see the investment’s attractiveness. Kevin deems the venture costly and questions whether additional funds beyond the initial $250,000 investment would be required. He compares Mark’s concept to a similar process involving a Roman ship near Cyprus, which ultimately ended with the ship in a castle. Kevin highlights the expense and lengthy duration of such endeavors, even in warmer waters. Once diving begins, he emphasizes the need to persist until all minerals are recovered.
In the end, Kevin also declines the investment, leaving Mark Hargitt without the funds he sought for his treasure hunting expedition.
Hargitt Marine Services in 2018: An Update After Shark Tank
Little information is available regarding Mark Hargitt’s expedition into the Mariposa shipwreck. This lack of information is probably for the best, as sharing too many details could potentially make Mark a target, despite living in the remote state of Alaska. Mark’s pitch was one of the most captivating on Shark Tank, offering a truly memorable experience. It is unfortunate that the Sharks chose not to collaborate and invest in this exciting venture. Mark even extended an invitation for them to join him on the dive.
