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Feb 19 2009 05:30 PM ET

View Madonna’s Material Possessions in Person– And Bid on This Gown!

Everett Collection

This could be your best excuse for booking a last-minute trip to London: A massive private collection of Madonna’s most famous and infamous costumes goes on display for the very first time starting Saturday. From the black and gold-coned “Open Your Heart” bustier to the wedding gown she wore on the “Like a Virgin” tour to the baseball uniform she wore in A League of Their Own, more than 300 of the Material Girl’s dresses, costumes, artifacts and personal items will be up for viewing at the Old Truman Brewery through March 22. The unforgettable pink gown (and gloves) that she wore in her “Material Girl” video could even be yours! The owners will be auctioning the dress off to one lucky — and probably very rich — bidder after the exhibit ends. Tickets to the exhibit, entitled “Simply Madonna: The Materials of the Girl,” are available through ticketmaster or preview the collection at marqueecapital.com.

Madonna

Feb 19 2009 04:34 PM ET

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Mary-Kate Olsen Debuts Elizabeth and James Shoes — On Her Feet!

Andrew H. Walker/Getty

Mary-Kate Olsen might have taken a front row seat at Proenza Schouler to check out the designing duo’s fall ’09 line, but the star was also showing off something new of her and sister Ashley‘s own design: Elizabeth and James shoes! The pint-size designer coordinated her turquoise dress and white Elizabeth and James blazer with a pair of black suede wedge heels from the new Elizabeth and James shoe line due out this spring. Mary-Kate’s pair are actually a prototype directly from the factory and is the line’s take on an ankle bootie, but with a sexy cut-out to show more skin. Wonder what fellow front row-er Nicole Richie thought of Mary-Kate’s design? Tell us: What do you think of Mary-Kate’s heels?

Get all of PEOPLE.com’s coverage of the stars and styles at Fashion Week by clicking here!

Feb 19 2009 01:35 PM ET

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Jennifer Lopez Dishes on Oscar Glamour

Donato Sardella/WireImage

Jennifer Lopez may not have made it to N.Y.C. Fashion Week but that didn’t stop her from celebrating fashion this week! The diva turned up at the Beverly Hills launch of famed stylist Andrea Lieberman’s A.L.C. line for Barneys New York. With the Oscars just days away, talk inevitably turned to this year’s Academy Awards red carpet. For her part, Lieberman is ambivalent about the impact the economy will have on the Oscar’s glamour. “It’s hard to predict what people will wear,” the tastemaker tells WWD, “but I think the mood right now is a little more effortless. I think people just don’t want to look like they’re trying too hard.” Lopez, however, was adamant that she thinks the Oscars should continue to shine. “I don’t think there’s anything wrong with playing dress up right now,” she tells WWD. “Who wouldn’t want to wear borrowed dresses and borrowed jewelry?” But she is aware of the dilemma many stars find themselves in. “I think you can get criticized if you’re wearing borrowed dresses now because it’s borrowed, and I think you can get criticized for if it’s not because you bought it during the current economy,” she says. “So I say, do what makes you happy and wear what you want, because the only thing that really matters,” she jokes, “is if your mother calls you up the next days and says, ‘What were you wearing?’”

Come back on Sunday night for all the breaking Oscar news and Best Dressed!