Best Actress nominee Cate Blanchett took home the best-dressed prize for her diamond-encrusted starfish Tiffany cuff and long diamond fern earrings, which had fabulous movement. She paired these high jewels from the new Tiffany Blue Book collection with a no-holds-barred Armani Privé blue-green gown.
One of my favorite looks of the night was Saoirse Ronan, nominated for Best Actress in Brooklyn. She oozed youthful glamour in mismatched Chopard earrings, paired with the sexy silhouette of her dark green Calvin Klein sequined gown and beachy hair.
Also looking fresh and pretty was Alicia Vikander, who won Best Supporting Actress for The Danish Girl. She wore large, but simple, geometric Louis Vuitton diamond earrings and a custom pale yellow gown, also by Louis Vuitton.
She was joined by Naomi Watts in a Bulgari necklace sparkling with diamonds, while Tina Fey, whose red carpet jewelry choices also included Bulgari, was resplendent in a blue sapphire and diamond necklace in a geometric design. Olivia Wilde, meanwhile, reprised the choker look she first wore at the Golden Globes with a Neil Lane Edwardian pearl, diamond and platinum choker, and matching half-moon diamond, pearl and platinum earrings.
Statement diamond earrings were by far and away the most popular choice of the night, with Lady Gaga's $8 million, 90 carat emerald-cut diamond drops from Lorraine Schwartz proving the perfect match for her enormous heart-shaped diamond engagement ring by the same designer. Presenter Kerry Washington sparkled in a pair of 1963 Harry Winston earrings, which cascaded from the ear, paired with an edgy leather and high-slit Atelier Versace gown.
Best Supporting Actress nominee Kate Winslet wore long, delicate diamond earrings from Nirav Modi's Luminance collection, while Julianne Moore embodied effortless glamour in Chopard earrings and black Chanel couture.
Jennifer Jason Leigh, also nominated for Best Supporting Actress, added a little color to her diamonds and pearls with 374 of the palest pink sapphires in Piaget earrings from the Limelight collection - the perfect match to her strapless, ruffled petal-pink Rodarte gown.
Winner of the Best Actress Oscar, Brie Larson wore diamonds from Japanese jeweler Niwaka, including beautiful hair accessories that showed off her talent for putting the fun into red carpet jewelry.
Finally, former Oscars' host Whoopi Goldberg took home the prize for biggest surprise of the night. She wore an incredible, one-of-a-kind pearl octopus hand bracelet from Sevan Bicakci, which took the Turkish artist designer more than a year to complete. If there were an Oscar for Best Jewelry, this wrap-around creature would win hands-down.