In 1981, Princess Diana wore a black strapless gown for her first appearance as the Princess of Wales—and thus kick-started an international obsession as the most stylish, fascinating Princess the world had ever seen. The taffeta dress, earning her the title "Daring Di" for its shoulder-baring cut, was thought to have been lost for the last 19 years. Not so: The designers Elizabeth and David Emanuel announced yesterday that their creation had been with them all along. The Princess had simply dropped it off with them to be altered. "[When we designed the dress], we hadn't considered the fact that when Diana bent over—as she would have to do when getting out of the car—she would show quite a lot of cleavage. We just thought she looked fabulous," Miss Emanuel recalled to the Daily Mail. The lost gown—which is expected to go for over $100,000—will be auctioned off on June 8th at Kerry Taylor Auctions.