The 2012 Costume Institute Gala at the Metropolitan Museum of Art took place on May 7. The event always draws a huge number of celebrities, and is so important that it's often referred to as 'New York's Oscars.' The theme of this year's exhibit (which runs from May 10 to August 19) is Schiaparelli and Prada: Impossible Conversations. It offers a visual look at similarities and differences between two Italian designers, Elsa Schiaparelli (1890-1973) and today's Miuccia Prada. Videos of conversations between the two women accompany the exhibit, with an actress portraying Schiaparelli.
Celebrities often dress to interpret the theme, and the jewelry is always lush. Browse our Met Gala photo gallery to see some of the best jewelry on the red carpet (and remember that you can click on an image for a full size view).
Photo by Dimitrios Kambouris/Getty Images

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