MET Ball: Is this the best dressed event of the year?

Think of this as the Oscars of the fashion industry. The Metropolitan Museum of Art’s 2012 Costume Institute – or the MET Gala – brings together 700 celebrities and big names from the fashion industry.

Vogue editor-in-chief Anna Wintour approves every name on the guest list. Tickets are $25,000 EACH, but it’s rare for anyone to pay full price – they’re given discounted tickets or they don’t pay at all.

Check out these incredible photos of A-listers on the red carpet, everyone from Sarah Jessica Parker to Cameron Diaz, Beyonce and Heidi Klum. Do you have a favourite?

And for a look at last year’s gallery…