A 600-ct. multi-million dollar diamond dress will be unveiled during a week-long showcase featuring Italian jewelry collections designed for the 75th Annual Academy Awards. After the unveiling, the dress will be auctioned off and a percentage of proceeds will benefit a charity for children.

The invitation only event, being billed as “The Best of Italy at the Oscars,” will be held March 16-22 at the Le Meridien Hotel in Beverly Hills, Calif. Celebrity guests will be invited to various private viewings to select from diamond and gold collections valued at $30 million and ultimately wear the designer pieces at this year’s Oscars, being held on March 23. The diamond dress, created by Italian jewelry designer Stefan Hafner and New York designer Rand Rahm, will be worn at the Oscars by a “mystery star.”

Italian jewelry designers showcasing their Oscar collections, in addition to Hafner, include Pasquale Bruni, Favero, Zydo, Pianegonda, Piranesi, Antonini, Augusta de Carolis, K. di Kuore, Garavelli, Luca Carati, and Torrini.

The diamond dress will be placed on bid during a charity gala on March 18 with a percentage of the auction proceeds going toward the Starlight Children’s Foundation. Additional donations will be made to the charitable organization for every piece of jewelry purchased during the seven-day event.

This is the second year that “The Best of Italy at the Oscars” is being held. The event is hosted by the Italian Trade Commission and the Vicenza Trade Fair.

JCK