Elizabeth Taylor’s lost “lucky charm” dress has been found and is set to fetch around £60,000 at auction.

The late actress wore the Christian Dior gown to the 1961 Oscars when she won the Best Actress award for her role in ‘BUtterfield 8’.

She was seen wearing the dress, designed by Marc Bohan, with opera gloves and diamond and pearl earrings and took then-husband Eddie Fischer as her date.

Kerry Taylor Auctions, which is selling the dress, said it had finally been located this summer in a suitcase in London, where Elizabeth frequently stayed with her fifth husband Richard Burton.

Family friend Anne Sanz told the auction house the dress, which features a pale yellow chiffon bodice, was only worn once, but said Elizabeth considered it such a “lucky charm” she would carry it with her on her travels.

Anne added the actress, who died in 2011 at the age of 79, grew tired of carrying dozens of pieces of luggage around the world gave away masses of her clothes including the 1961 dress.

It is up for auction on December 6 and is expected to get between £35,000 and £60,000.

The gown is considered a valued piece due to Elizabeth’s emotional speech given while wearing the gown.

She said when picking up her Oscar after previously being passed over for previous Academy awards: “I don’t really know how to express my gratitude for this after everything.

“I guess all I can do is say thank you. Thank you with all my heart.”