Medegian Bracelet of Lost Ships

This silver bracelet contains a zircon stone that was enchanted by a greedy wizard who used it to attain great wealth before he was captured and hung by pirates. The stone in the bracelet glows red on the side that faces the nearest sunken ship within 1 mile of you. When you are within 50 feet horizontally of a sunken ship, the stone glows blue. Then you can use a Magic Action to spend one or more charges and the sunken ship rises to the surface for 1 hour. The bracelet has 25 charges, and raising a sunken ship costs a number of charges depending on size, as per the table below

Types of Ships:

Each ship has a 75% chance of being inhabited by monsters. The DM chooses which monsters. The bracelet can't be recharged, and once the last charge is spent, it crumbles to dust.