The cracker- was found by James and Mabel Fenwick, who were passengers on board the SS Carpathia, which went to the aid of survivors from the ship.
It is understood a Greek company bought it at the auction held at Henry Aldridge & Son in Devizes, Wiltshire.
Auctioneer Andrew Aldridge said the Spillers and Bakers Pilot cracker, from a survival kit in a lifeboat, was "the world's most valuable biscuit", BBC reported.
Also, a photograph purporting to show the iceberg that sank the ill-fated liner sold at the same auction for 21,000 pounds. The picture was taken by a steward on another ship which passed the iceberg.
Aldridge said they were among the most "collectible and iconic" Titanic items to be sold.
RMS Titanic had been four days into a week-long Transatlantic crossing from Southampton to New York when the supposedly "unsinkable" ship struck the iceberg on April 14 1912. The ship sank on April 15, killing 1,517 people.
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