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Blake Lively stuns in 2018 Met Gala dress
Blake Lively attends the Heavenly Bodies: Fashion & The Catholic Imagination Costume Institute Gala at The Metropolitan Museum of Art on May 7, 2018 in New York City.
Sean Zanni—Patrick McMullan/Getty Image

Blake Lively wore her Sunday Best — and $2 million worth of jewelry — to fashion's biggest night.

The 30-year-old film and television star wore $2 million of Lorraine Schwartz jewelry with her custom Versace gown at the 2018 Met Gala Monday night, where she embodied the theme "Heavenly Bodies: Fashion and the Catholic Imagination."

The dress's embroidered bodice took more than 600 hours to make, Lively told Vogue, and the actress worked with Lorraine Schwartz and Christian Louboutin to plan her footwear and accessories ahead of the event at the Metropolitan Museum of Art in New York City.

Blake Lively attends "Heavenly Bodies: Fashion & the Catholic Imagination", the 2018 Costume Institute Benefit at Metropolitan Museum of Art on May 7, 2018 in New York City.
Taylor Hill—Getty Images

The expensive jewelry included gold bracelets, three diamond and ruby rings and 30-carat Colombian emerald and diamond earrings, according to People. The most notable piece, however, was her custom halo that featured 100 carats of champagne diamonds.

Extravagant gowns, suits and over-the-top jewelry are the name of the game at the Met Gala each year, where celebrities, models and, sometimes, politicians pay homage to each year's unique theme in what's considered the Super Bowl for fashion. Indeed, Rihanna, who stuns each year at the Met Gala and did not disappoint with her Monday night with her Pope-inspired look, exclaimed: "It feels expensive," when describing her dress by Maison Martin Margiela, according to Vogue.

Oftentimes with these designer looks, the celebrities aren't necessarily footing the bill. At awards shows or annual events like the Met Gala, fashion designers and influencers see the venue as a stage to draw attention to custom-made or straight-off-the-runway pieces. The expensive jewelry worn on the runway is often insured, according to

Some celebrities at awards shows and black-tie events have taken the opportunity to show off more affordable options from discount retailers. H&M has debuted gowns and ensembles at the Met Gala before, with rapper Nicki Minaj and model Ashley Graham wearing H&M looks last year.

Actress Lili Reinhart, best known for her role on CW's Riverdale, wore H&M to the Met Gala this year, along with a make-up look that cost no more than $15, according to Byrdie, a beauty insider website.