THE GREAT SELL-OFF: Nosy types will be able to catch a glimpse of Louise MacBain's vast fashion closet on Sept. 12 when the multimillionaire and art collector auctions her handbag and footwear collection at Christie's in London. She's downsizing, you see, from a Holland Park mansion to a Norman Foster-designed flat in Battersea, and just won't have the room for all the Chanel, Louis Vuitton, Hermès, Asprey and Cartier stuff. According to Christie's — which only confirmed the details of "a house sale," although it's been widely reported in the British press the loot belongs to MacBain — the auction is expected to fetch in excess of $3 million and will include belts and handbags from all the big luxury brands. And lots of them: There are 23 superfine crocodile leather Kelly handbags in a variety of sizes and colors, with the largest valued at up to $24,000. The sale also will include furniture and objects from MacBain's Holland Park property and her chalet in Saint Moritz, Switzerland.

HORSING AROUND: On the heels of their successful Platinum Handbag launch, Mark Badgley and James Mischka were all smiles Wednesday night at their party to fete the collection. Turns out Badgley is a winner outside the design studio, as well. Earlier this month, one of his horses, Brando, won the Kentucky Summer Classic. "We go to Kentucky every weekend for about six months to our horse farm," said Badgley. "We keep horses there, all of whom are show horses. The rest of the year they spend in Palm Beach." Lucky lucky.

PENNY ROYAL: The Bar Marmont in Los Angeles was a swirl of drinks and diamonds Thursday night when Penny Preville teamed up with Stolichnaya Elit vodka for a good cause. The jeweler designed four 18-karat pieces that were auctioned to raise money for the Design Industries Foundation Fighting AIDS. Andrea Fiuczynski, president of Christie's, Los Angeles, revved up the online and live bidders, including Rosario Dawson and Eric Mabius. "Are you armed and ready? Can you show me your paddles?" she asked. The cuff bracelet, clip-on pendant, earrings and cuff links, which were displayed on martini glasses and red rose petals, ultimately fetched a total of $17,200 for DIFFA.