Finding someone who will admit that they have a mag in a place as hostile to treasure hunting as present-day Bahamas might be harder than finding the ship.
A 200' ship sunk within a 4 mile x 4 mile area of scoured seamount in Bahamian clear water 60-100 feet deep.
At least you are dealing with clear water.
I'd bet a couple of dollars that the US or British Navy already knows if it is there. Something that big would show up on their sonar like a church steeple on the beach, and it would be valuable for them to not be surprised by a big metal object on the sea floor. Know anyone that drives a sub or a naval vessel? They have better charts than us.
The term "scoured seamount' would suggest a lot of current, which can make towing a fish or a suspended coil quite challenging.
Perusing every nav chart available, Navionics, paper charts and/or lists of fishing spots. Unless this is way, way out from any fishing areas, the local fishermen know of every rock more than 2 feet high simply because it may hold fish. The best kind of research -buying beers for information.
Staring at Google Earth and every satellite photo available online or from private imaging companies would be my second step. Does any governmental agency happen to do aerial surveys for any reason in that area? Conch or other fisheries conservation people may do some flyover surveys.
Would a big ticket electronic item be subject to the high Customs tariffs coming from some other country than the US? I believe there are some folks leaving Panama with all their gear..
Good luck, mon. If you find it, will ye be bringing the cases of Kalik to the Cookout next year?