Titanic survivor life jacket set to fetch staggering price as anniversary nears

The flotation device, used by first-class passenger Laura Mabel Francatelli during the ship's 1912 sinking, is expected to sell for roughly $339,000 to $475,000, news agency Cover Media reported.

Francatelli wore the life jacket as she boarded Lifeboat No. 1 after the Titanic struck an iceberg just before midnight on April 14, 1912. She later signed the item along with seven other survivors from the same lifeboat.

The life jacket remained in her family for decades before being acquired by a private collector about 20 years ago. 

It is believed to be one of only a handful of Titanic life jackets still in existence - and the only one ever offered at auction, Cover Media noted.

Auctioneers at Henry Aldridge & Son said the item has generated global interest ahead of the sale, which is scheduled to take place April 18.

She later recalled being told not to worry as she was helped into a life preserver before making her way to the ship's deck, where lifeboats were being lowered.

The group ultimately boarded Lifeboat No. 1 - which had a capacity of about 40 people but was launched with only 12 on board.

The lifeboat later became the subject of controversy after its occupants did not return to rescue others in the water. Reports at the time also raised questions about payments made by Sir Cosmo to crew members, though the circumstances were widely debated.

After her husband's death, she returned to the United Kingdom - where she spent the remainder of her life until her death in 1967.

"There are only a handful of life jackets worn by survivors which still exist today," auctioneer Andrew Aldridge told Cover Media, adding that most are held in museums and are unlikely to be sold.

The upcoming sale is expected to draw collectors and history enthusiasts from all over the world.