One of his diamond earrings, reportedly valued at about $150,000, had fallen out.
So the All-Pro receiver hired a dive team to scour Georgia's Lake Lanier to recover the lost jewelry, according to a report by WXIA-TV in Atlanta.
Divers, who went as far down as 65 feet, came up empty-handed on Tuesday, WXIA reported.
"It's down in crevasses and nooks and crannies," Richard Pickering, one of the salvage divers, told WXIA. "It's impossible -- absolutely impossible."
Asked whether the earring was worth $100,000, Jones told WXIA, "Yeah, yeah, it was worth a little bit."
Jones' jeweler said the earring is worth $150,000.
Jones, who reports to Falcons training camp on Wednesday, said he's just glad no one got hurt when he fell off the Jet Ski.
"As long as I'm good, it's materialistic stuff," he told WXIA. "You can always get that kind of stuff back."