The Mermaid's Hideaway — Sea of Thieves Walkthrough

Finding Treasure: Treasure can be found randomly on islands, in shipwrecks, floating in the sea, or obtained from completing Voyages and Quests. Some treasures are locked behind Vaults in Forts or taken by enemies like Skeleton Ships, Megalodons, or the Kraken. All treasure items emit a colored glint or glow, making them visible from a distance.

Carrying Treasure: Treasure must be carried by hand to a Trading Company representative. A pirate can only carry one item at a time and cannot use equipment or resources while doing so. The treasure must be dropped to regain full control. Harpoons can be used to retrieve treasure from afar. Smaller items can be placed in Container Chests (which hold up to 3 items) to hide their glow and sound.

Treasure Lifespan: Treasure left on land remains until interacted with. Treasure dropped in water will sink after approximately 5 minutes, except for Trade Good Crates which float longer.

Emissary Value: Sailing as a Trading Company Emissary and collecting treasure relevant to that company grants Emissary Grade Reputation. Additional Reputation is gained when the treasure is put on the ship. These increases are awarded only upon the first claim of a treasure item.

Trading Companies: Each Trading Company (Gold Hoarders, Order of Souls, Merchant Alliance) values specific treasure types. Representatives at every Outpost accept these treasures for Gold, Doubloons, Reputation, and Emissary Value. They also offer Voyages.

Types of Treasure: Treasure items are categorized by the Trading Company they are sold to. Within the main companies, they can also be Regular, Ashen, Stronghold, Skeletal, or Ghostly variants.

Gold Hoarders Treasure: Includes Treasure Chests and Artefacts.

Treasure Chests: Locked chests sold to Gold Hoarders. Found via maps, in Ancient Vaults, or randomly. Emit a White Glint. Types include Regular, Shipwrecked, Coral, Ashen (more valuable, found in The Devil's Roar), Valuable, and Cursed Chests.

Artefacts: Smaller items found on their own, in chests, or Fortress Vaults. Emit a Golden Glint. Types include Regular Artefacts (trinkets, containers, ornaments), Ashen Artefacts, and Stronghold Artefacts.