The sleeveless sheath, seen now on Milla Jovovich in the chain's window displays, and on Hilary Rhoda (left), has sold out in New York stores in a record two days.
What's more, 11 of these dresses have turned up on eBay, where bidders have pumped the $198 retail price to up over $200, with one dress already at $300 -- and there's another day of bidding left!
The good news is that the company is mobilizing to get more of these apparent must-have dresses in stores.
There are 100 additional Vintage Floral Sheath dresses that will be available through a flash sale as early as next week -- definitely in time for Memorial Day cookouts.
Check back here for the latest on this sellout.
Meanwhile, read about Ann Taylor's new look.