It's the fashion world's equivalent of the Oscars.
Vera Wang (search) was named the year's top womenswear designer, John Varvatos (search) won for menswear and Marc Jacobs (search) for accessory design. Diane von Furstenberg (search) received a lifetime achievement award.
Also attending were Sarah Michelle Gellar, who wore a chocolate brown gown by Max Azria Atelier; Nicole Richie, who wore a blush-colored beaded gown by Michael Kors; and Claire Danes, who came with designer Behnaz Sarafpour.
Models Iman and Heidi Klum each arrived with their singer-husbands — David Bowie and Seal, respectively. Iman wore a silver beaded gown with spaghetti straps and a pregnant Klum was in a black jersey Donna Karan gown.
Mandy Moore, who in addition to singing and acting designs T-shirts under the label Mblem, said the likes of Donna Karan, Ralph Lauren and Wang operate "at a completely different level" than she does.
"I'm just here as a fan of fashion. I don't have it in me to do this," the 21-year-old said.
However, Moore was quite pleased with the outfit she chose for the black-tie gala at the New York Public Library.
"It's vintage Bill Blass," she said of her short white dress with black appliques. "I found it myself and I'm really proud of it. It's fun and fresh."
She added a black crocodile Coach clutch purse and bright green stiletto sandals.
The Associated Press contributed to this report.