Princess Diana’s famous ‘Revenge Dress’ is set to return to auction, more than three decades after she wore the iconic black gown during one of the most memorable evenings of her life.

The dress, designed by Greek designer Christina Stambolian, is expected to sell for between $150,000 and $300,000, which is approximately £110,000 to £220,000. It will be offered at Sotheby’s in New York on 9 December as part of its Luxury Week, marking the first time the original garment has been auctioned since 1997.

The black silk dress became one of the most recognisable outfits associated with Diana after she wore it to a Vanity Fair fundraising dinner at the Serpentine Gallery in London on 29 June 1994.

The appearance came on the same evening that her then-husband, the Prince of Wales, publicly addressed his infidelity during a televised interview.

Diana had originally planned to wear a different outfit to the event, but changed her mind shortly before leaving for the Serpentine Gallery. She had owned the Stambolian dress for around three years but had previously considered it too daring to wear publicly. On the night, however, she stepped out in the off-the-shoulder black silk design, which featured a fitted silhouette and a hemline above the knee.

The decision immediately attracted widespread attention, with photographs of Diana becoming some of the most memorable images of her time as a member of the Royal Family. The dress later became known as the ‘Revenge Dress’, a name that has remained attached to the garment and the moment in which it was worn. Diana’s former stylist Anna Harvey later recalled that Diana “wanted to look a million dollars.” Her choice of outfit was also seen as a significant moment in her changing approach to fashion.

Following her separation from Prince Charles in 1992, Diana increasingly experimented with more contemporary and daring styles, working with designers who helped shape her image outside the restrictions traditionally associated with royal dressing.

The ‘Revenge Dress’ has consequently become more than simply a piece of clothing, with its place in fashion history closely connected to Diana’s public image and her ability to use clothing to communicate confidence.

Diana paired the dress with a pearl choker featuring a sapphire and diamond brooch, black shoes and a black clutch. She also wore bold red lipstick and matching red nails, completing the striking look. Despite its lasting fame, Diana only wore the dress publicly once.

In June 1997, shortly before her death, she included the Stambolian design among 79 dresses that she put up for auction to raise money for charity.

The original sale raised millions for causes supporting cancer and AIDS charities, with the dress purchased by its current owners. It has remained in their possession since then, meaning its upcoming Sotheby’s sale will be the first time it has been publicly offered at auction in almost 30 years. The current consignor has spoken about the significance of owning the garment and recalled the moment Diana wore it.

“My late husband and I knew that this dress was something special.

“Princess Diana was walking into the worst night of her life and you would never know it to look at her.

“It went from a cocktail dress to a statement in the time it took to photograph her.

“Thirty years on, you can say the words anywhere in the world and everyone knows exactly which dress you mean.”

The upcoming sale will also continue an element of the charitable legacy connected to the dress. Part of the proceeds from the auction will benefit NHS Lothian Charity on behalf of the Royal Edinburgh Hospital, supporting additional care, equipment and projects.

The dress will also be sold alongside a copy of the original 1997 auction catalogue, which is numbered and signed by Diana and Stambolian.

Before it reaches the auction block in New York, the garment will be displayed as part of an international exhibition tour. It will first be shown in London from 18 to 24 September before travelling to Hong Kong and Geneva, with the tour eventually reaching New York ahead of the December auction.

The decision to put the dress back on the market has already prompted debate among members of the public, with some questioning whether such an important piece of royal and fashion history should be privately owned at all. One person commented:

“This dress needs to be in a museum!!!”

Another said:

“It should be worth more and quite frankly, it should be in a museum..”

Others suggested that the dress should remain connected to Diana’s family rather than being sold to another private collector. One person wrote:

“I hope Prince William bids and wins and keeps it locked away.”

The reactions highlight the unusual status of the garment, which has remained culturally significant long after Diana’s death.

For many, the dress represents a particularly important point in Diana’s public life, while its connection to one of the most widely discussed moments of her marriage has helped preserve its place in popular culture.

Its influence has also continued to appear in fashion and entertainment. Stambolian later created a replica of the original using the same measurements and fabrics, while the dress was recreated for Elizabeth Debicki’s portrayal of Diana in Netflix’s The Crown.

The replica was subsequently among the costumes connected to the series that were offered at auction in 2024.

The original, however, remains the most significant version of the garment because it was the dress Diana herself wore to the Serpentine Gallery in 1994.

More than 30 years after that appearance, the ‘Revenge Dress’ is now preparing to enter another chapter of its history, with collectors set to have the opportunity to bid for one of Diana’s most recognisable fashion pieces.

With an estimate reaching £220,000, the December auction could determine just how much value collectors place on an item that has become closely associated with Diana’s legacy, fashion history and one of the defining moments of her public life.