The 18-carat Tiffany & Co. watch was given by three women survivors to Capt. Arthur Rostron for diverting his passenger ship, the RMS Carpathia, to save them and others after the Titanic struck an iceberg and sank in the north Atlantic.

A gold watch gifted to the captain of a ship who rescued more than 700 passengers and crew from the Titanic has sold for a record-breaking $1.97 million.

The captain changed the course of the ship and headed towards the wreckage of the Titanic with lifeboats floating around. According to auctioneer Andrew Aldridge, the watch was "presented principally in gratitude for Rostron's bravery in saving those lives,

A gold pocket watch given to the British boat captain who rescued more than 700 passengers from the Titanic has sold at auction for a record-breaking £1.56m ($1.97m). The 18-carat Tiffany & Co timepiece was given to Sir Arthur Rostron, then captain of passenger ship RMS Carpathia, by survivors he rescued.

The previous record for Titanic memorabilia was set in April, when John Jacob Astor’s gold watch sold for £1.175m.

Auctioneers say the watch sale is the highest-ever for a Titanic artefact.

A gold pocket watch presented to the captain of a boat which rescued more than 700 passengers from the Titanic has sold for a record-breaking £1.56 million. It was the highest amount ever paid for Titanic memorabilia,