A fairy-tale dress worn and “loved” by Diana, Princess of Wales, will go on sale next week and could fetch up to £80,000.

Auctioned by the same auctioneer that sold the see-through dress once worn by the Duchess of Cambridge, the gown is described as one of the most ornate and romantic of all Diana’s dresses.

Designed by the Emanuels – the creators of her wedding dress – the frock shimmers with gold sequins, crystals and pearl beads, and comes with matching headband, optional sleeve panels and petticoat.

Kerry Taylor Auctions said the dress has a “pretty, fairy-tale princess feel to it” and estimates are set at £50,000 – £80,000.

Diana first laid eyes on the dress at a Red Cross benefit fashion show in the summer of 1986, and rather than having it specially commissioned from the designers, she acquired the standard size 10 dress from the show.

The auctioneer says it “fitted her perfectly” and she went on to wear it on many occasions.

She wore it at a banquet at the German Ambassador’s residence in London in July 1986, and to the Royal Opera House for a performance of Ivan the Terrible by the Bolshoi Ballet later in the same month.

She then wore it again almost a year later to the premiere of the James Bond film The Living Daylights in Leicester Square in June 1987.

The Emanuels were a fashion favourite of the Princess during the 1980s, and David Emanuel along with his then-wife Elizabeth have remained known for designing her wedding dress.

David is currently a contestant on I’m a Celebrity Get Me Out of Here on ITV.

After designing the bridal gown, the Emanuels went on to make special ensembles and evening gowns for Diana’s overseas tours with Prince Charles, as well as producing maternity wear.

According to the auctioneer, Elizabeth said that because of its lavish decoration and striking gold and white colours, the dress was something that people would either love or hate and she remembered that the Princess had told her that she “loved it”.

The Passion for Fashion auction will take place on Tuesday at Kerry Taylor Auctions on Long Lane in London.