Alan Aldridge, of auction house Henry Aldridge and Son, has said he does not think any other piece of Titanic memorabilia will raise as much as the violin sold today:
I don't think this price will ever be beaten. The violin was the most iconic item we have seen and there were some very, very wealthy people bidding.
We estimated between £200,000 and £300,000 but we always said it had the potential to hit £1 million.
It is the only piece of Titanic memorabilia that has the potential to reach £1 million - it is so, so iconic.
He said that with the addition of the buyer's premium and VAT, the final price would top £1 million.
More top news
Ed Miliband will order an emergency recruitment drive of nurses so an extra 20,000 will be working in the NHS by 2020.
Sir John will give a speech later today saying a Labour-SNP government would be "weak and unstable" and wreck Britain's economic recovery.
Nigel Farage has told ITV News he would "happily" accept Christian refugees into Britain because they have "literally got nowhere to go".