Australian warship HMAS Perth (I) was sunk during the Battle of the Sunda Strait in 1942, claiming the lives of 353 men. It was not until 2017 that Indonesian and Australian authorities conducted a joint archaeological survey of the site. They found that Perth had been salvaged on an industrial scale, with less than 40% of the vessel remaining. The discovery devastated those with an emotional connection to Perth, and, following strong Australian government advocacy, informed Indonesia’s decision to establish a maritime conservation zone, the nation’s first, around the site. Although the 80 years since Perth sank have been characterized by a lack of official engagement, this article proposes that the recent destruction of Perth is not the end, but the beginning, of a new era of bilateral cooperation, founded on the recognition that the wreck has historical significance for Australia as well as potential benefits for local communities in Indonesia.