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Bargain Hunters

Shop, shop, shop.That was the theme at Thursday night's 7th on Sale gala, which brought out a good mix of celebrities, socialites, and virtually every designer in town.Among those in attendance was Valentino, who's clearly making the...

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Shop, shop, shop.

That was the theme at Thursday night's 7th on Sale gala, which brought out a good mix of celebrities, socialites, and virtually every designer in town.

Among those in attendance was Valentino, who's clearly making the New York rounds.

"Normally I would find something like this very intimidating," Jennifer Connelly joked. "I am looking for a birthday present for a friend, and a Christmas gift for my mother."

Rachel Roy got lucky in the resort area. "I love this Prada dress, particularly the idea of the Fifties made modern," Roy, who is expecting her second child, said. "I am also looking for baby stuff. I saw a crib at a great price. I want to shop, shop, shop. What can you do when things are socheap?"

The night proved there's nothing quite like having a shopping partner. Calvin Klein Collection's Francisco Costa took Ashley Olsen by the hand, while Giambattista Valli did the honors for her sister Mary-Kate; Vera Wang rifled through the racks with Arnold Scaasi, and Stan Herman squired Bernadette Peters around.

Costa also scoured through the children's wear area, picking up Fiona Neill's book "Slummy Mummy" and a Ralph Lauren cashmere cable knit bear. "I am going for baby things, I don't know why," he said. "I didn't even know [Ralph Lauren] made bears. God, they make everything."

The event also served to announce the winner and runners-up of the CFDA/Vogue Fashion Fund, which is sponsored by Gap and underwritten by Liz Claiborne Inc., Lord & Taylor, L'Oreal Paris, Barneys New York, Coach, JuicyCouture, Kellwood Co., Nordstrom, Theory and Vogue.

Phillip Lim, a Fashion Fund runner up that evening, couldn't conceal his excitement at a limited edition book with sketches from 37 designers. "I scored like a bandit," Lim said.

"I have been rummaging but haven't had a chance to shop yet," said Kate Bosworth, as she was being whisked to dinner. "Is the shopping still going on after dinner?"