A dress once worn by Princess Diana has made headlines by smashing auction records, selling for a staggering $1,143,000 - an astounding 11 times higher than its estimated value. The dress, designed by Moroccan British designer Jacques Azagury, received significant attention and was sold in 19 bids after being originally listed for $100,000 - $200,000.

Princess Diana, then the Princess of Wales, showcased the iconic blue and black star-spangled dress on multiple formal occasions. One such occasion was during her tour of Italy with then-Prince Charles in April 1985, where she wore it to a dinner hosted by the Mayor of Florence.

Elizabeth Holmes, a journalist and royal commentator, highlights that this dress marked a pivotal moment in Diana's fashion evolution. As Diana became more aware of the attention her wardrobe received, she started experimenting with trendier and more exciting pieces.

Although not considered one of Diana's most well-known ensembles, the dress's astonishing auction price is undeniably notable. The intricately detailed dress features a black velvet bodice adorned with embroidered stars, a drop waist with a two-tier royal blue organza skirt, a sash, a bow, and shoulder pads.

The description of the dress on the Julien's Auctions website explains that the ballerina skirt pays homage to Diana's love of dance and her support for the English National Ballet.

Even after her passing, Princess Diana's life and fashion choices continue to captivate the public. Notably, Diana initiated the auctioning process herself in 1997, auctioning off numerous iconic dresses to raise funds for charity and share her wardrobe with collectors and enthusiasts.

The previous record for an item worn by Diana was set by a whimsical red sweater with a black sheep motif, which sold for $1.1 million in September. Before that, a purple velvet gown by designer Victor Edelstein fetched $604,800 at Sotheby's earlier this year.

All proceeds from the sale of the dress will benefit the New York Historical Society, according to the Julien's Auction website. The identity of the buyer remains unknown, adding an air of intrigue to this historic acquisition.