"Instead, I spent the next nine years telling people the story at parties for laughs."
He explained that 'laughing it off' meant he could avoid feeling like a victim.
"Telling the story as a joke ensured that this was a story I could own. If I could laugh at it, then surely I was not a victim. As a young storyteller from a family dedicated to seeing the funny side of the absurd, this was my way of defanging the whole thing.
"That technique fell apart once I got to college and started telling the story to people in the theatre world in New York. Often, they would respond by saying, 'I know a guy that that happened to as well.'
"The victims in many of these stories were often young men. These admissions became so common that I started to plan on a break in the story just so people could nod and say, 'Oh yeah, I've heard this before.'
"All of these responses made me realise there wasn't anything funny about my story. It wasn't a joke."
Dreyfuss added after it happened, he'd been too afraid to speak up.
"[Spacey] knew he could fondle me in a room with my father and that I wouldn't say a word. He knew I wouldn't have had the guts. And I didn't."
This latest story comes amid a string of shocking accusations levelled at Spacey in recent days, including by actor Anthony Rapp, who claims the star made a "sexual advance" toward him when he was just 14 years old.
Netflix has since announced it is severing ties with Spacey, while he's also been fired by his publicist and agent.