A historic gown worn by Princess Diana is up for auction, with the highest bid currently standing at $25,000.

The iconic scarlet silk gown, designed by Bruce Oldfield for Diana in the 1980s, is up for sale at Beverley Hills auction house, Julien’s.

The late royal wore the dress on multiple occasions, twice in 1989 and once on November 18, 1991, to the world premiere of Hot Shots in London, reports Julien’s.

The mother-of-two was long associated with the esteemed British designer Bruce Oldfield, 73, whose patrons include the Queen Camilla and Sophie, Duchess of Edinburgh.

While the highest current bid is $25,000, the jacquard shift dress is estimated to fetch between $200,000 to $400,000.

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The iconic scarlet shift dress (pictured) worn by Princess Diana in the 1980s is up for auction at Julien’s in Beverley Hills, California

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In the post, Julien’s wrote: ‘Bid now on this historic Bruce Oldfield gown; owned and worn by the late Princess Diana.

‘Princess Diana’s scarlet metallic jacquard chiffon gown, designed by Bruce Oldfield, was worn on several occasions, twice in 1989 and once on November 18, 1991, to the world premiere of Hot Shots in London.

‘Princess Diana and her fashions always had an audience, the whole world, who were mesmerized by her and her gowns, especially by this custom Bruce Oldfield design.

‘Oldfield’s design is light as well as tailored with its loose hand-gathered bust, sloped ruched shoulders, and fitted ruched bodice from under the bust to below the hips.

‘The horizontal folds fan out from the center seam and extend to the back closure.

‘The bodice hugs past the hips going into an open skirt; the hem floats delicately to the floor.

‘A label that reads “Bruce Oldfield, Custom Made, London” is present.’

Julien’s auction house, where the dress is up for auction, focuses on high profile auctions across film, music, art, and the sports sphere.

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The dress was designed by Bruce Oldfield, whose patrons include the Queen Camilla and Sophie, Duchess of Edinburgh .

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While the highest current bid is $25,000, the jacquard shift dress is estimated to fetch between $200,000 to $400,000

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The late royal wore the dress on multiple occasions, twice in 1989 and once on November 18, 1991, to the world premiere of Hot Shots in London (pictured) , reports Julien’s

The auction house has a number of items associated with Princess Diana currently up for auction, including a previously unpublished letter revealing her ‘trepidation’ concerning her new single life ahead of divorcing King Charles.

The revealing letter, written to the chairman of the Royal New Zealand Foundation for The Blind, is set to be auctioned next month by Julien’s Auctions and Turner Classic Movies in Beverly Hills, California.

Diana cited ‘personal circumstances in particular my marriage to The Prince of Wales’ as her reason for resigning from her role in the charity, where she was patron, according to The Telegraph.

The mother-of-two explained that she could not offer the level of ‘commitment’ required by the role as she must ‘re-organise’ her life.

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Julien’s is also auctioning other items associated with the late royal, including a previously unpublished letter revealing her ‘trepidation’ concerning her new single life ahead of divorcing King Charles

She added that while she remained hopeful, there was still a ‘number of matters’ that she needed to resolve.

In the letter, Diana explained that it was ‘with great sadness’ that she write to resign from her position as patron of the charity.

She explained: ‘As you know, my personal circumstances, in particular my marriage to The Prince of Wales, have been the subject of detailed conjecture in recent months, and this will soon be formalised in the normal legal manner.

‘Although I am embarking upon the future with hope, I also do so with some trepidation since there are a number of matters which I shall need to resolve.’

Diana continued: ‘As I seek to re-organise my life it will not be possible for me to provide you with the right level of commitment and I feel that there may be someone else better suited to support you in all that you do.’

The letter was dated 15 July 1996, the month before Charles and Diana formally split on 28 August 1996.