But straight out of a Hollywood film, Damiani then made headlines around the world when, almost simultaneously, its Milan, Italy showroom was robbed of millions in jewelry. The thieves pulled off the dramatic heist in part by digging a tunnel from a building next door. Trying to put the best spin on the situation, Damiani released a statement supporting its victimized employees, saying that at least most of their “Masterpiece” collection was in LA at the Oscars. Thankfully no one was hurt. Nonetheless, it was surely much more publicity, and drama, than Damiani ever bargained for this Oscar season. - Matthew Kramer

Kidman wore the most important and prominent necklace of the night: an extraordinary rough and polished multistrand diamond sautoir designed by L’Wren Scott set with 7645 diamonds totaling almost 1400 carats. Russel’s multistrand necklace by H. Stern was also a very strong look.

Now that the threat of the writer’s strike is over, fashion is celebrating the resuscitation of Oscar’s red carpet. So this week’s Grammys are being studied for clues to the main event coming up soon on February 24. And if the Grammys are any indication of what we’ll see in a week, don’t look for important necklaces on the stars this year.

Once again at this year’s Grammy Awards, the focus was on the wrist. The look of the night was the important cuff: one large bracelet with dimension rather than a stack of bangles as we saw at the last few award ceremonies. Beyonce’s zig-zag cuff by Lorraine Schwartz epitomized the trend, as did Rihanna’s 27-carat cuff by Chopard.

Earrings, for the most part, remain long, although they are often more prominent at the hair-down Grammys than the hair-up Oscars. But the bare-neck bejeweled-wrist trend was so dominant once again that it is likely to reign at this year’s Oscars as well.

Yes, yes, chandeliers are “over” but you know few can resist those long dangly diamonds that make every woman feel really dressed up. Long earrings are here to stay. So, Oscar stylists, just resign yourself and avoid the big necklace/big earrings clash. You don’t want your clients to be mocked by the fashion police like Nelly Furtado at the Grammys, who tried but failed to carry off a thick gold choker and long silver earrings with a strapless dress. It was the jewelry faux pas of the night.

The ratings for the 2007 Emmys may have been the lowest in history but the jewelry on the red carpet this year deserved high marks. Dresses were glamorous and colorful but simple, with more than a touch of old Hollywood retro drama, letting the jewelry take center stage. Surprisingly, the strongest jewelry trend at the Emmys this year was long shoulder-dusting earrings. Debra Messing, television style icon, wore Cartier Art-Deco inspired diamond and platinum earrings easily four inches long. And who remembers Marcia Cross‘ dress? All attention was on those amazing five inch drop turquoise earrings by Lorraine Schwartz and matching turquoise-and-ruby snake bracelet. (There were several jeweled snakes on display, including the rhinestone snake halter biting Portia de Rossi’s Azzaro dress.) Other stars sporting the long earring look: Michelle Pfeiffer in Harry Winston, Queen Latifah in Diamond in the Rough, Heidi Klum in her own chandeliers, Ali Larter in Neil Lane, Rebecca Romijn in Neil Lane, Kate Walsh in Neil Lane, and Jenna Fischer in H. Stern. Several stars appeared in the height of jewelry fashion, rare for a red carpet event. Ellen Pompeo’s Fred Leighton suite of yellow gold jewelry with tasseled necklace, bracelets and ring, had a retro forties glamor. She loved the jewelry so much, she removed her engagement ring for the night because it clashed with the chunky feeling of the yellow gold ensemble. Minnie Driver had a neon yellowish-green dress fresh from the Spring runways last week in New York, accessorized with a chic black bakelite cuff with diamonds and rubies in 22k gold and diamond, ruby and pearl earrings by Bochic. Katherine Heigl’s stack of black gold bracelets, ring, and hoop earrings with dangles by Ryan Ryan Jewelry were fashionably up-to-the minute. Overall the winners of the placement sweepstakes, Emmy edition, are Chopard, Lorraine Schwartz, Neil Lane, H. Stern, and Bochic.

One sign that bling, like jewelry trends in general, is now as much about yellow gold as diamonds is the latest high-end sneaker: Seni, a style by Upper Echelon Shoes that features 18k gold chain shoelaces. The shoes were sported during Tuesday night’s BET Awards by none other than Diddy, who was also wearing large diamond studs and a large yellow gold and diamond medallion. The 18K Gold olive branch chain laces designed by Gabriel Urist, were, of course, untied. The gold-laced shoes, which retail for $500, are for sale in the Hamptons, at Blue & Cream in East Hampton, where Mariah Carey recently bought a pair as a gift. Grandmaster Flash, the king of eighties old-school hip-hop, also owns a pair. Could they be a harbinger of a return to gold-boom eighties excess? Remember Mr. T?

With wheel barrels of diamond and gemstone jewelry in Cannes during the festival from official jeweler Chopard, de Grisogono, and others, there is no shortage of glamorous necklaces available for celebrities to wear. But the stars are sticking to the dress for red carpet success recipe that began at the Oscars: bracelets and dangling earrings or hoops. Necks, once again, are mostly bare. Sharon Stone managed to look chic, relaxed, and almost casual in gold lame at the amFar Cinema Against AIDS benefit thanks to her H. Stern hoop earrings and Diane Von Furstenberg Sutra bracelet. Although neutral colors, the strongest trend from awards season, are still strong, some stars have broken out bright colors to stunning effect, notably Angelina Jolie and Helen Mirren in sunshine yellow and Kerry Washington in emerald green. Washington bucked the trend in another way: she also wore a dramatic matching emerald necklace by Boucheron.