The Gudrun was lost in Shark Bay on 23 October 1901; the WA Museum records that she was scuttled by the ship's carpenter, 22-year-old Azel Rawd, 'for some offence', and although towed to Fremantle for repairs she was later wrecked anyway. Her remains lie in 6 m about 10 km north of Cape Peron within a sanctuary zone of the Shark Bay Marine Park.

The Shark Bay tourism guide notes diverse marine life including groper and lionfish, and warns that currents can be dangerous, so the wreck should only be dived at slack, preferably neap, tides with experienced operators. It is one of very few wreck dives in Shark Bay and a remote, rarely visited site.

Launch at Denham or Monkey Mia and run north past Cape Peron (roughly 50-60 km from Denham, 1-1.5 hours). The wreck lies about 10 km north of Cape Peron at approximately S 25° 25.5', E 113° 31.5' (WA Museum). Dive only with experienced local boat operators at slack water.

Shark Bay is dominated by strong southerly winds, which blow most days from about October to March and often exceed 20 knots by late morning; the calmest conditions are in April-June and on early mornings. The inner bay is shallow and well protected from ocean swell, but the western shores of Dirk Hartog Island and Steep Point face the full Indian Ocean. Water is 17-19°C in winter and 23-26°C in summer.

Currents at the Gudrun can be dangerous; dive only at slack water, preferably on neap tides.

Descend at the start of slack water, explore the wreck and its fish at 6 m, and surface before the tide turns.

No scheduled dive operator; the Shark Bay tourism guide advises diving only with experienced operators.