LONDON - A gold watch found on the body of the wealthiest passenger on the Titanic was auctioned in England for £1.17 million (S$2 million) on April 27.

It was a record sum for an object linked to the notorious 1912 shipping disaster, said auctioneers Henry Aldridge & Son. The Guardian, citing the auctioneers, reported that the previous highest amount paid for a Titanic artefact was £1.1 million for a violin that was played as the ship sank. It was sold by the same auction house in 2013.

An American buyer won the bidding war for the watch, smashing the auctioneer’s pre-sale estimate of between £100,000 and £150,000. The BBC reported that the watch had fetched £900,000 at the auction but when taxes and fees are taken into account, the buyer will pay £1.175 million.

The 14-carat gold Waltham pocket watch, engraved with the initials JJA, belonged to the American business magnate John Jacob Astor.

CNN reported that the cufflinks he wore were also up for auction, although it is not known if they were sold.

Astor was 47 when he died as the Titanic sank in the early hours of April 15, 1912. He was reputed to be one of the richest men in the world at the time.

He died after having helped his wife, Madeleine, on board one of the lifeboats. She survived the disaster.

Astor’s body was found a week after the disaster, with the watch among his personal belongings.

“The watch itself was completely restored after being returned to Colonel Astor’s family and worn by his son,” said a statement from the auction house.

The sinking of the Titanic is one of the most famous tragedies in maritime history, claiming over 1,500 lives. AFP