The hobby is a combination of environmentalism and treasure hunting. The magnets used are strong enough to remove large debris such as discarded bicycles and car tire rims from bodies of water, but many who engage in the hobby are hoping to find rare and valuable items as well.
Magnet retrieval tools are specially designed to retrieve items that are lost at the bottom of bodies of water.
People who engage in the hobby may be referred to as "magnetfishers," "magneteers," "MF'ers" or "neodemons," (a play on neodymium). With the hobby still in its infancy none of the names has taken root yet.
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