The titanic stuff always sells incredibly well when auction piecemeal, but it's almost an apples to oranges comparison. Think of the number of people who have enough money to splurge for five or six figures on a neat little thing to show to their friends vs. the number of people or even consortium who have 100+ million. This is one of those situations where it's worth exactly what a person will pay and there's really no other way to value it. (actually, it might be worth less than that. A few conference calls ago I remember a response being given that, reading between the lines, sounded like someone was willing to pay OVER the 189m but they were blocked by the court)
That's why I think it's kind of foolish that they're having everything reappraised. Obviously the appraisal is going to be even higher than before especially with the IP involved, but if no one would spring for $189m then what's the point? They could say it's worth a billion dollars, but it means nothing.
Now, I still believe it will sell for an amount greater than the current market cap of the company by a large margin, but whatever the number is the appraisal will have no bearing.