Indiana Jones is a really great adventurer he even invited me for a quest to get gold armor. So when I asked him if he wanted to raise a shipwreck with me he said sure I've never done it before!
Step:1 In raising shipwrecks you can get items to craft ships and give them bonuses, Treasures that can be sold for a lot of money and discovery. you will need two items or two skills if your skill slots are full use the items.
Step2: Go to the place of the sunken ship, the world map of UWO is divided by waters so if you use the salvage skill and the ship is in the wrong place it will tell you it is not there.
Tip: If you have an aide he will say that you are close. If you set your aides duty no lookout and you are close to the target he will tell you that there is floating cargo and that you are very close to it! any aide will do
If you are in the right waters rubbing the map with your cursor will reveal the X mark. In the PS3 version pressing X and ? will show the X mark ^_^
Step 3: When you finally use salvage and hit the right spot your ship will start pulling it up! take care tho depending on how large the wreck is you will take bigger damage! so having repair and carpentry tools is a good idea. Also having a fleet with other players gives you a combo bonus and helps haul the ship faster. they will be given loot also but not as large as the party leaders share.
Step 4: Once the ship is raised use haul skill or haul rope to tow it to the nearest dock. careful now sometimes hauling it in hostile waters enemy pirates will take it or the ship may be damaged when you get attacked or sail rough seas and lose the ship or get lesser treasure.
Step 5: One you reach the dock a new Icon will appear! you can enter the ship but if you are in a fleet wait for everyone to dock before clicking it or they will not be able to enter. One inside you will see some chests better have unlock skill or you wont be able to open them!
But be careful! if you get some good stuff robbers will come aboard and try to take them away!
Step 6: Finished! you have taken the treasure and prevented thieves from taking it away! the party leader now may exit the ship and take everyone with him back to sell the loot!
Tips: Its not always simple shipwrecks that are pulled up sometimes there are ghost ships where you have to fight before you can loot them. Famous ships that have sunk and make good discoveries too can be found some ships even have a time limit before it collapses! so better loot quick.
Hope you find this guide helpful!