Thank you for contacting Mearto with your appraisal inquiry.

It is a beautiful dress. Such vintage clothes are being offered at auction on a regular basis.
The dress has a lovely design and the material and colour is quite extraordinary. This dress is still fashionable today despite that it is a vintage dress made som 80-100 years ago. The two damages under the arms that you mention will decrease the value of the dress however it is still a lovely piece that would most certainly attract the attention of both collectors and dealers if it came up for auction.
I have not been able to find any information about the dress maker mentioned on the label, and often brand names add extra value to an item. However that is mainly when it is Chanel, Yves Saint Laurent and Louis Vuitton.
The estimate provided is for a well-advertised specialised online vintage clothes auction, where I believe the silk dress has the best chance of realising its fullest potential. However, there is no measurement for the sentimental value you might attach to the beautiful silk dress. Retail "asking prices" can be higher and vary.

Please let me know if you have any additional questions. I’m happy to help.
Thank you