UPDATE: TITANIC LIFE JACKET SELLS FOR NEARLY $1 MILLION AT AUCTION AS RARE ARTIFACTS DRAW RECORD INTEREST. (PHOTO).
Titanic life jacket sells for nearly $1 million at auction as rare artifacts draw record interest A life jacket worn by a Titanic passenger during the 1912 disaster has sold at auction for 670,000 pounds ($906,000), far exceeding expectations as collectors continue to drive strong demand for rare artifacts from the ill-fated voyage. The preserved flotation device belonged to first-class passenger Laura Mabel Francatelli, who escaped the sinking liner aboard a lifeboat. The item, which also bears signatures from Francatelli and other survivors from the same lifeboat, was the standout piece in a sale of Titanic memorabilia and was purchased by an anonymous telephone bidder. Auction estimates had placed the life jacket between 250,000 and 350,000 pounds, but competitive bidding pushed the final price well beyond that range, including the buyer’s premium. Another major item in the same auction was a seat cushion from one of the Titanic’s lifeboats, which sold for 390,000 ...

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