It's the stuff of royal legend: A young university coed catwalks past a handsome prince in a sheer slip-dress and steals his heart.

The young prince-on-campus, Prince William, cranes his neck to get a glimpse of the brunette beauty, Kate Middleton, and their fairytale romance begins.

The $45 silk lingerie-dress famously worn by Middleton and created by young design student Charlotte Todd in 2000 is now a royal artifact worth at least $15,000, British auctioneer Greasbys told the Daily Mail.

The auction house predicts its value could exceed $160,000 when Middleton becomes a princess following her April 29 wedding.

Todd, who now works at an aquarium, recently retrieved the stashed dress from her mother's closet, where it has been stored since the fateful fashion show.

Todd told the Daily Mail there's little chance she'll part with the dress. "If it hadn't been see-through, William might not have noticed her. I definitely think it played a part in the royal love story," she said.