The auction house had guided the 2ft 3in x 3ft 5in (68cm x 1.04m) one sheet stone litho printed poster at around $125,000.
The film, which starred Claude Rains in the title role as the scientist, was based on a novel by HG Wells.
Rare first offering
The poster, offered in a sale on March 21-22, is an example of horror artwork by artist Karoly Grosz.
A rare first offering at Heritage, the auction house said that this is one of only a small handful of this style B poster that are known to exist.
£1 = $1.29