In the eyes of luxury jewelers, nominated actresses are simply the vehicles that can win their designs a spot on the red carpet.

Neil Lane, one of the first fine jewelers to loan his baubles out to red-carpet trompers, has just opened a new boutique on La Cienega in Los Angeles. The salon is equipped with a special VIP room where celebs can peruse multi-million dollar earrings in peace.

But the Los Angeles Times estimates that this year will witness a pared-down approached to pear-shaped diamonds. They predict that pave diamonds and less ostentatious necklaces and earrings will be popular, in light of the economic climate. (The bracelet Kristen Chenoweth, pictured here, wore to last year's Oscars is a perfect example.)

On one hand, we think being a little bit demure shows solidarity with the rest of America -- on the other, we still want to drool over completely inappropriate bling.