Sotheby's to Auction Princess Diana's Iconic Black Sheep Sweater

Sotheby's is putting Princess Diana's famous black sheep sweater — arguably one of her most iconic fashion moments — up for auction this September.

The jumper comes from the knitwear brand Warm & Wonderful. Co-founders Sally Muir and Joanna Osborne found it in their attic this past month: "We spotted a small box. Inside, tucked away beside a cotton bedspread was Diana's original red sheep sweater from 1981," the two shared, in a statement.

The piece found its way back to Muir and Osborne in 1981, after a Buckingham Palace official notified them that Diana had damaged it, creating a minor tear in the cuff, and requested a replacement.

Shortly after rediscovering it earlier this year, Muir and Osborne contacted Sotheby's to sell the item and get it "into the hands of a fortunate collector." The auction house estimates the sweater to be worth around $50,000 to $80,000.

Diana wore the original red knit, which is covered in drawings of white sheep — save for one black one — for the first time publicly in the summer of 1981, to one of Prince Charles' polo matches, prior to their marriage. She then wore the replacement in 1983, this time styling it with a crisp white collar beneath it and a black ribbon tie.

Sotheby's has had success with past auctions of fashion items formerly belonging to the People's Princess. Earlier this year, it sold what's considered to be her most valuable dress for $600,000; in that same sale, Diana's Attalah Cross was purchased by Kim Kardashian for nearly $200,000.

Diana's sheep knit has gone on to have a life of its own: Warm & Wonderful reproduced the design in 2020 in collaboration with Rowing Blazers as part of a capsule collection (including totes, crop tops, hats and more) that paid homage to her outfit. That same year, Emma Corrin wore a replica of it in season four of "The Crown," as they portrayed the late Princess.

The sweater will headline Sotheby's Fashion Icons sale in September, which aims to celebrate "legendary people, unforgettable events and unparalleled creativity through the lens of fashion," a spokesperson for the auction house tells Fashionista, adding, "The sweater is representative of Princess Diana's fashion choices, which broke the mold by reflecting the changing social climate and embracing evolving perceptions of femininity; it's a piece of fashion history."

Bidding for Princess Diana's sweater will open online on Aug. 31 and go through Sept. 14. It will also be on display at Sotheby's Upper East Side office starting on Sept. 7, during New York Fashion Week.

Homepage photo: Courtesy of Sotheby's, Princess Diana Archive/Getty Images; Artwork: Brooke Frischer/Fashionista 

Never miss the latest fashion industry news. Sign up for the Fashionista daily newsletter.