Hela's Folly is a partially-submerged merchant vessel located northeast of Dawnstar. Deekus, an Argonian scavenger who appears to have been salvaging jewels from the wreckage, has a small camp nearby.
The shipwreck itself is situated on an island East of the Dawnstar Sanctuary. There is a leveled chest located within the Captain's Cabin (submerged) of the vessel and several gems almost directly under the chest. There is another locked chest inside Deekus's camp.
- Contract: Kill Deekus.
- This is one of the possible locations in which the Helm of Winterhold may be found for the Miscellaneous quest initiated by Jarl Korir of Winterhold. The helmet is found in Deekus's chest, which has to be picked to open. Taking the helmet will be considered stealing, but holds no bounty and does not turn Deekus hostile.
- Some Precious Gems inside Deekus' camp and inside the sunken ship.
- A locked chest in Deekus' Camp.
- A locked chest inside the ship.
- Dibella Statue next to Deekus' bedding.
- N'Gasta! Kvata! Kvakis! will sometimes spawn in a chest here.
- A possible location for Meridia's Beacon.
- The items in the ship may be freely taken, though taking anything from Deekus' camp is marked as a theft.