, Nov. 23 -- A gold pocket watch recovered from the body of one of the Titanic's wealthiest passengers has sold for a "record-breaking" £1.78 million at an auction in Wiltshire.

The 18-carat Jules Jurgensen watch belonged to Isidor Straus, a prominent American businessman, politician and co-owner of Macy's. Straus and his wife, Ida, were among more than 1,500 passengers who died when the ship struck an iceberg and sank on 14 April 1912 during its voyage from Southampton to New York.

Straus' body was recovered days later, and the timepiece - engraved with his initials - was found among his possessions. The watch, which had remained with the Straus family for generations, was sold on Saturday by Henry Aldridge & Son Auctioneers in De...