As you DEFINITELY remember: At the end of Titanic, Old Rose secretly throws the Heart of the Ocean necklace into the sea.
Bye-bye, priceless necklace!
No, this is not fake. Yes, it is impossible to get through with a straight face.
Bye-bye, priceless necklace!
Everyone freaks out, like the necklace is her hostage, or something.
Bill Paxton's character is laughing because Old Rose has finally gotten him to understand the theme of the movie.
THIS IS LITERALLY. WHAT. HAPPENS.
YUP.