Buried treasure, for the majority of us is the stuff of fantasy. The chance of stumbling across/inheriting a map detailing the whereabouts of a fortune is very slim. Following the map's instruction before digging a hole to reveal a life-changing nest egg is unfortunately even less likely.

That was until Phillips auction house in New York held an auction for the GPS co-ordinates of a hidden cache of art (curated by Thyssen-Bornemisza Art Contemporary Academy in Vienna), containing 40 contemporary artworks from artists such as Marina Abramovic, Ed Ruscha and Doug Aitken.

On 13 November a mystery bidder paid $185,000 for the co-ordinates, digitally encrypted and laser cut onto a steel cylinder, an artwork in itself by the Dutch artist Constant Dullaart and German cryptographer Michael Wege. While the encryption doesn’t entitle the winner to the prize, it should stand them in far better stead than other potential treasure hunters.

Treasure of Lima: A Buried Exhibition engages the narrative and legal identity of Isla del Coco (the inspiration for Robert Louis Stevenson’s Treasure Island), contrasting historical legends of buried treasure with the island’s real status, a natural treasure worthy of protection. Proceeds from the auction will be donated to the marine protection of Isla del Coco.