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

A rare life jacket worn by a Titanic survivor is set to be auctioned more than a century after the disaster.

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.

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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.

Francatelli, who was just 22 at the time, boarded the Titanic in France and was traveling as a secretary to fashion designer Lady Lucy Duff Gordon and her husband, Sir Cosmo Duff Gordon.

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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.

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The survivors were eventually picked up by the RMS Carpathia, which arrived hours after the Titanic sank and rescued more than 700 passengers.

Francatelli later returned to Britain and married Swiss-born hotel manager Maximilian Haering in 1913. 

The couple eventually moved to New York, where they worked in the hospitality industry and operated hotels together.

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

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The cream-colored life jacket, made of canvas with cork-filled sections, has been displayed at museums in both the United States and Europe.

"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.