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Auctioneer Andrew Aldridge said the cracker earned the nickname of "the world's most valuable biscuit."
The auction also featured a photo of the iceberg that sank the ocean liner -- taken aboard a boat that passed the site hours after the Titanic's sinking -- selling for about $32,250.
The auctioneers said the cracker was saved by James Fenwick, a passenger on the Carpathia, a ship that picked up survivors from the Titanic's sinking.
Fenwick saved the cracker in an envelope with a notation reading, "Pilot biscuit from Titanic lifeboat April 1912."