The Princess of Wales, who was then Lady Diana Spencer, wore the dress to a black-tie benefit event at Goldsmiths' Hall in the City in March 1981 - her first official engagement with her fiance, Charles.
For her first public appearence with Prince Charles, Lady Diana chose a romantic ball gown in black silk taffeta with a boned bodice and a full flounced skirt
The couple were attending an event in aid of the Royal Opera House development appeal and images of the royal bride-to-be stepping out of a limousine in the black gown with a plunging neckline made newspaper headlines and immediately established Diana as the most glamorous member of the royal family.
Style queen: Designer Elizabeth Emanuel stands with the dress and other items that she created for Princess Diana. She also designed Diana's wedding dress
Pricey: The dress was the star lot at an auction of items from the Emanuels' archive
As the royal wedding approached the princess returned the gown to the designers to have it altered as she had lost weight, but it was easier to make another and the original remained forgotten for many years.
The dress, which had been expected to sell for around £50,000, was bought at an auction in London today by a fashion museum in Chile.
