Despite continuing efforts to locate him, Bridlington Coastguard say they have yet to find any trace of local fisherman Tony Marshall, missing since Sunday after he failed to return home from a fishing trip.
Coastguard Station Officer Marcus Harriman told reporters: "It's a long time since he was last seen, so it's not looking good," before adding: "We have however found a canoe."
He went on to explain: "It's a bit like when you're looking for a pen down the back of the sofa, but instead of finding a pen you find 50p."
When asked what the Coastguard intended to do with the canoe Mr. Harriman said:
"We could take turns to have a go in it I suppose, but unfortunately it doesn't have any paddles.
"Or maybe we could sell it on eBay. It must be worth a few bob to someone - enough to buy us a few drinks at least."
The search for Mr. Marshall is expected to continue well into tonight, with rescuers expected to deploy their newly purchased state-of-the-art 'metal detecting equipment'.