A fabulous 1960s vintage dress reminiscent of 'Mrs Robinson' style with the sheer sleeves (though her dress body was dark shimmery animal stripe);
though they may be a later adaption by a very skilled seamstress as the stitching is different. No label or composition labels etc.
The fabric appears to be wool crepe in appearance though may be a mix: a test revealed no synthetic which surprised me, 
but its def a mix, and has a silken back  so perhaps a rayon or silk mix with the wool. It's quite heavy weight which also suggests 
wool but as I say I am not sure. Anyway, its a fabulous fabric in excellent condition, and trimmed with duchess satin with organza or similar black
sleeves.
Looks fab with long gloves underneath imho, but also looks elegant without. Look super teamed with the 1960s leopard print coats I have in stock atm
if you want to go the whole Mrs Robinson look!
I'm a size 6/8 and would certainly get away with it, but would fit up to a size 10 I'd say.
Waist 30 ins
Bust 32 ins
Hips 39 ins.
The shoulders are main body satin trim typical late 1960s shoulderless then the fabulous transparent sleeves begin with puckered mutton pleats, so 'in' atm, but then this such divine flared sleeve satin trim at end. 
The dress drapes beautifully due to the weight, a slight empire cut A line defined by the bow however not a seam, nicely cut over the bust and, and... ..ah well just look at the pics there are no words to describe how elegant it is. If you can't seduce a graduate in this give up! It feels so sexy to wear too; lined and even the back of the fabric is gorgeous.