After the traditional walk on the red carpet and all the winners are announced, the only thing left to do for all the guests of this year’s Academy Awards is to party! There were only two parties after this famous event, the AIDS Foundation party hosted by Elton John and Graydon Carter’s the annual Vanity Fair party.

Both parties attracted an equal number of glamorous celebrities and some of the new faces that were welcomed on the red carpet for the first time this year.

From many extravagant and fabulous outfits presented at the Academy Awards this year we could surely point out a few that caught the eyes of paparazzi.  Hillary Swank in an extravagant dress with an open décolleté, Salma Hayek in an astonishing mini dress with digital print, a masterpiece of the late Alexander McQueen, Natalie Portman looking young as always in a short grey dress, and Kate Bosworth showing her high class style with a bright pink dress. However, if there would be an Oscar for the most gorgeous dress it would surely fall into the hands of Victoria Beckham. Famous Posh wore a truly magical gown which presented her own, recently launched fashion label, and was spotted at Elton John’s Oscar after party.

Photo credential: Dimitrios Kambouris/Wirelmage.co