Sir Arthur Rostron changed the Carpathia's course to rescue Titanic survivors after the ship received a distress signal indicating a collision with ice. Despite reaching the site hours after the Titanic sank, Captain Rostron's efforts were crucial in saving hundreds of lives. The pocket watch, engraved with a heartfelt message from three widows of wealthy businessmen lost on the Titanic, was presented primarily as a token of gratitude for Rostron's bravery during the disaster.

The auction's record price outstripped the previous high set just months earlier, when another Titanic-related watch sold for £1.175 million. The increase in prices illustrates a growing demand for such memorabilia amidst a dwindling supply of artifacts related to the ill-fated ship. With each auction, Titanic collectors continue to showcase an unyielding interest in the history surrounding the ocean liner's tragic voyage.