The Titanic took 3 years to build at a cost of $7.5 million. It sank on its maiden voyage from Southampton to New York in 1912 after colliding with an iceberg, resulting in the deaths of over 1500 people. Inquiries into the disaster found faults with Captain Smith for ignoring ice warnings, the shipbuilders for using poor quality rivets, and Captain Lord of the Californian for failing to assist the Titanic after seeing its distress signals. The sinking revealed a lack of sufficient lifeboats led to many unnecessary deaths.