Jewelry Sparkles at Vogue Fashion Fund

Jewelry fashion is always gawk-worthy when the fashion world gets together for a function. Whether it’s sitting runway-side or throwing a fundraiser, where there’s Anna, Diane, Galliano and Leon – there’s diamonds, gemstones, and gold out the wazoo.

Last night, the CFDA/Vogue Fashion Fund celebrated its fifth anniversary at Skylight Studios in New York, and the glamorous crowd came out in droves. The evening celebrated up-and-coming designers with five and six figure prizes and top designers Narciso Rodriguez, John Galliano, Diane von Furstenberg, Vera Wang and Zac Posen were there to root them on.

The evening’s top prize of $200,000 and a year's worth of mentoring, went to 24-year-old Alexander Wang.

"Four years ago I was reading about this award in my dorm room in a magazine," the youngster told Style.com.

Looking drop dead gorgeous in Dior and a stunning vintage diamond choker was my favorite jewelry hound, Charlize Theron. And while an understated Blake Lively was there to share the spotlight, no one could hold a candle to the evening’s glamazonian MC.

The guests glittered as well with model, Doutzen Kroes in Hervé Léger and a glittering statement necklace and guest Chiara Clemente, in Giambattista Valli and golden pom-pom earrings.

The only misstep was a usually classic Anna Wintour in an unfortunate short sleeved sequined number with black tights that bordered on the, dare I say, tacky?