It has been ten decades now since the luxurious, unsinkable ship started its first and last voyage. The centenary of the tragedy has put ancient shipwrecks into the centre of attention and denoted the legal gaps and anomalies of national and international legal efforts to regulate their legal status and to protect them from treasure hunters. The essay aims to define the legal status of R.M.S. Titanic as being one of the most famous shipwrecks of our time, its story and legal situation might be the object-lesson for the problems and deficiencies of the legal issue of international protection of underwater cultural heritage, the sovereignty and ownership of historical objects found at sea and the anomalies of customary international law concerning shipwrecks.