Oscar Jewels While Gwyneth Paltrow has worn borrowed baubles in the past, her father Bruce bought her this $230,000 Harry Winston necklace for the Oscar ceremony in 1999 MORE PHOTOS »»

"We've never lost anything," says James Kersey of Harry Winston Ltd, the jewellery firm known for lending stars millions in gems on Oscar night. However, "one year Madonna gave us quite a scare. She was singing the nominated song from Dick Tracy and wearing an incredible amount of jewellery… At the end of the number, she took one of the earrings and threw it into the audience." The Material Girl is no fool, though. She had replaced the earrings with a costume pair just before going on stage, much to the relief of the jeweller's staff. Winston, whose massive $3-million orange "Pumpkin" diamond ring was worn by Halle Berry as she picked up her history-making trophy in 2002, has been outfitting stars since 1943 when nominee Jennifer Jones first set the trend. The firm has since became an institution at the Oscars, with everyone from Gwyneth Paltrow to Cate Blanchett sporting their borrowed goods. (Men, including Geoffrey Rush, get in on the act as well. For more on leading men caught by the gems' allure, see Diamond Studs.)

In 1998, veteran actress Gloria Stuart – nominated for her performance in Titanic – stepped out in a 15-carat blue diamond necklace worth a whopping $20 million. The precious stones around her neck meant the octogenarian had no need of a date for the evening: two hunky security guards from Winston trailed her every move, keeping a close watch on the replica of the film's "Heart Of The Ocean". » NEXT PAGE (1/2)