A violin that was played by the bandmaster while the ship sank, has been found and is now being displayed at a British auction house.

The Associated Press reported that Titanic survivors say they remember Wallace Hartley, who was the band leader, playing on a deck as the ship sank and passengers got on board lifeboats.

"Within minutes of the Titanic striking an iceberg on April 14, 1912, the 24-year-old was instructed to assemble the band and play music in order to maintain calm. The eight musicians gallantly performed on the deck while passengers lined up for the lifeboats.

The band carried on until the bitter end, famously playing the hymn Nearer, My God, To Thee," reported The Daily Mail.

The violin was believed to be lost in the accident but Henry Aldridge & Son, auctioneers in London say the instrument was unearthed in 2006 and had undergone testing to prove it was in fact the violin.

The auction house spent the past seven years and thousands of pounds determining that the violin was in fact the original.

"The auction house said the rose wood instrument has two long cracks on its body, but is "incredibly well-preserved" despite its age and exposure to the sea. It estimated the violin is worth six figures," reported The AP.

Hartley passed away during the Titanic sinking on April 15, 1912 along with 1,517 other passengers and crew members.

The AP reported that the violin was returned to Hartley's fiancée and then ended up in the Salvation Army before being given to a violin teacher and then the auction house. The violin will be on public display at Belfast City Hall at the end of the month, near where the Titanic was built.

Research by the auction house proved that  had the violin strapped around him in a leather luggage case, that he put it in moments before the Titanic sinked. The Daily Mail reported that one theory is that the luggage case may have aided to buoyancy. He was found dead in the water with his violin. His fiancée Maria Robinson gave him the violin in 1910 with an engraving that said, "For Wallace on the occasion of our engagement from Maria."

The violin may be exhibited around the world and is currently under negotiation.

See a photo of the violin here.