The Best Dressed at the Oscars 2012

The highly coveted Academy Awards will forever be one of the most important events in the fashion world. As the world’s premier designers adorn their latest high fashion pieces on Hollywood’s finest, the media is sure to capture every step in these beautiful creations. White, red and black ruled the evening’s color palette and there were enough waist-defining details to prove the statement middle having a moment, but plenty of ladies stood out in their own right.

Here were some of the women we would not mind having under our arm:

Rooney Mara
Givenchy dress, Fred Leighton ring

Gwyneth Paltrow
Tom Ford dress and cape

Jessica Chastain
Alexander McQueen dress, Harry Winston jewels

Penelope Cruz
Armani Prive dress, Chopard jewels

Rose Byrne
Vivienne Westwood dress

Jennifer Lopez
Zuhair Murad dress

Angelina Jolie
Versace dress

Milla Jocavich
Elie Saab dress, Jacob & Co Jewels

Emma Stone
Giambattista Valli dress

Michelle Williams
Louis Vuitton dress

Sandra Bullock
Marchesa dress

Cameron Diaz
Gucci dress

Elite.