Red Carpet Central

"In old movies, they used to have women who'd go shopping. Someone would usher them in to a private room, all the models would come out and they'd sit there and say, 'I'll have that. I'll have two of those,'" said guest Allison Janney of the event. "We had a wonderful lunch and drank champagne and looked at diamonds. It was a real treat, I look forward to it every year."

VIDEO Go behind the scenes to see how the diamonds and dresses were selected and to mingle with the stars.