Encountered this a few times recently. Players have been scuttling and doing what they can to sell the sword when they are engaged in combat. The one today did the ram strategy into reapers scuttled the burning blade and denied the sword.
My suggestion if you are the world event of the burning blade and you scuttle it should scuttle you to a new sea. This would avoid the grief of the people selling it just to deny it when they were under contention and leave the burning blade/ritual sword to the people who actually want to fight for it.
If they get sunk they can stay on the server but a scuttle of the burning blade shouldn't allow them any chance of profit. It's not a big deal when it's less than 3 rituals on the sword some people just have to go but when it's 3 or more and they're just doing what they can to grief it should be punished by sending them to a new server since they forfeited the burning blade.