As some of you pointed out, a piece from the Atelier Versace Spring 2009 collection was actually worn at the Oscars.

Penelope Cruz wore this one-shouldered white gown, with silver detailing, and a thigh-high split, when she arrived at the Vanity Fair party with her well deserved Oscar.

I much prefer this to her previously worn Oscar gown, which I know a lot of you loved, but it was very bridal-esqe to me.

I'm dying to see more pieces from this collection on the red carpet. Some said it would be perfect for the Cannes Film Festival and I totally agree, I just don't want to wait that long.