The 18-carat Jules Jurgensen timepiece, originally gifted to retail magnate Isidor Straus in 1888, was sold by Henry Aldridge & Son in Wiltshire, surpassing the previous record of £1.56m set only last year, The Guardian reports.

Isidor Straus, the Bavarian-born co-owner of Macy’s department store, perished alongside his wife, Ida, during the 1912 disaster. The couple famously refused lifeboat seats to remain together, a final act of devotion immortalised in James Cameron’s 1997 film. While the movie depicted them embracing in bed as the waters rose, survivors reported last seeing the pair facing their fate side-by-side on deck chairs. Recovered from the wreckage and returned to the Straus family, the watch serves as a poignant artefact of their bond.

The weekend auction generated a total of £3m, featuring other significant lots such as a letter written by Ida Straus and a rare passenger list. Auctioneer Andrew Aldridge described the staggering price as a testament to the couple’s ‘ultimate love story’ and the enduring global fascination with the tragedy more than a century later.