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RED CARPET JEWELRY

Jeff Vespa/Wireimage, courtesy of DIC

Penelope Cruz in Chopard diamond stud earrings and cushion-cut diamond necklace

Oscar night jewelry

Angelina Jolie steals the show with Lorraine Schwartz emeralds

Angelina Jolie stole the Oscar red carpet with supersize emeralds from jeweler-to-the-stars Lorraine Schwartz.

The 115 carat emerald teardrops swung over a strapless black ruched gown by Elie Saab. The gown, scooped low at the breastbone, was a sexy, yet elegant choice. But it was the shock of colour from the bright green Columbian emeralds that made the otherwise unremarkable outfit sing. Jolie also wore a gumball-sized 65 carat emerald ring on her right index finger.

Anne Hathaway, in a spiral of white sequins by Armani Prive, chose her left index finger for a magnificent ring from Cartier. The 9.6 carat princess-cut diamond with pave detail is set in platinum and worth a whopping $735,000. The piece was worn with diamond swirl earrings, a diamond watch bracelet, triple and double row bracelets, a diamond pave ring and a $150,000 diamond sunburst brooch in her hair.

Angelina's emeralds weren't the only colour of note on the red carpet. Amy Adams’ crimson Carolina Herrera gown was topped off with a tutti frutti collar from Fred Leighton. The necklace contained approximately 630 carats of emeralds, rubies and sapphires and 39 carats of diamonds.

Other statement necklaces included 19th-century diamond flower necklaces, also from Fred Leighton, worn by Amanda Seyfried and Taraji P. Henson.

Often actresses choose to commemorate an award win with a piece of jewelry, much the same way athletes celebrate with championship rings.

If Cruz and Winslet choose to do so, they will probably be shopping at Chopard.

Best Actress Winslet’s 28-carat pear-shaped diamond waterfall drops and 117-carat multi-cut diamond bracelet by Chopard were a perfect complement to a one-shoulder Yves Saint Laurent gown

Cruz picked up the Oscar for best supporting actress wearing vintage Balmain and a 69-carat cushion cut diamond riviere, a 21-carat starburst yellow diamond ring, 11-carat diamond stud earrings, and diamond bracelets, all from the Geneva-based luxury jewelry house.