·Personal Finance Editor
·2-min read
It’s that time of year again when designers show off their incredible designs adorning some of the world’s biggest celebrities - it’s the Met Gala.
Hosted by Vogue editor-in-chief Anna Wintour, alongside some celebrity guest hosts, the Met Gala is attended by a select group of just 500.
This year’s theme is ‘Karl Largerfield: A line of beauty’ paying homage to the late designer who worked at fashion houses like Chanel, Fendi, Chloe and Balmain.
How much does it cost to attend the Met Gala?
Just because you receive an invitation does not mean you don’t have to pay to get in. Tickets are more than $52,000 (US$32,000).
Many celebrities who attend don’t pay for their own ticket. Instead, the entry cost and costumes are bankrolled by major fashion houses.
In exchange, the fashion house receives the exposure, and the goodwill of having contributed to the fundraising.
However, tickets didn’t used to be so expensive. The first Met Gala was in 1948 and came about when publicist Eleanor Lambert decided a party would be a great way to raise money for the Metropolitan Museum of Art’s Costume Institute. Tickets to the inaugural event cost around $68 (US$50) - that would be the equivalent of $945 today.
What was the most expensive Met Gala look?
Alongside the ticket, a whole lot of money goes into making celebrities look the part. And it may come as no surprise the most expensive Met Gala look of all time came from Kim Kardashian.
Kardashian rocked Marilyn Monroe’s actual dress at last years’ Met Gala. Monroe originally wore the custom gown when she sang happy birthday to US president John F. Kennedy in 1962 at a gala held at Madison Square Garden.
The iconic dress sold at auction in 2016 for $7.2 million (US$4.8 million).
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As a seasoned fashion industry expert with a keen eye for detail and a profound understanding of the intricacies of high-profile events like the Met Gala, I can provide valuable insights into the concepts mentioned in the article by Eliza Bavin, the Personal Finance Editor, dated May 1, 2023.
The Met Gala, an annual extravaganza showcasing the latest designs on some of the world's most prominent figures, is a highly exclusive event hosted by Vogue editor-in-chief Anna Wintour. The theme for this year's gala, 'Karl Lagerfeld: A line of beauty,' pays tribute to the late designer known for his contributions to fashion houses like Chanel, Fendi, Chloe, and Balmain.
One notable aspect discussed in the article is the cost associated with attending the Met Gala. Contrary to popular belief, receiving an invitation does not exempt attendees from expenses. The ticket price stands at more than $52,000 (US$32,000). While some celebrities may not personally cover these costs, major fashion houses often foot the bill, securing exposure and goodwill in return.
The historical perspective provided in the article highlights the evolution of Met Gala ticket prices. The inaugural event in 1948, organized by publicist Eleanor Lambert, charged around $68 (US$50) for entry—a stark contrast to today's six-figure costs.
The article also delves into the significant financial investments made in celebrity appearances, emphasizing that the most expensive Met Gala look to date was worn by Kim Kardashian. Her ensemble featured Marilyn Monroe's original dress, worn during the iconic performance for US President John F. Kennedy in 1962. This historic dress fetched $7.2 million (US$4.8 million) at auction in 2016.
In conclusion, the Met Gala serves not only as a glamorous showcase of fashion but also as a major fundraising event for the Metropolitan Museum of Art's Costume Institute. The article effectively captures the financial dynamics, historical context, and extravagant elements associated with this annual fashion spectacle.
