Met Gala 2023 LIVE Updates: Priyanka Chopra's Met Gala diamond necklace, worth $25 million, will be auctioned after the event: Report

The biggest night in fashion is here and celebrities sashay down the red to the Great Hall of the museum in their designer best. This year, the theme of the Met Gala is a tribute to late designer Karl Lagerfeld, who had a lasting impact on high fashion through his lengthy career. This year, 400 guests are expected to attend the Met gala. The 2023 Met gala is being hosted by Penélope Cruz, Michaela Coel, Roger Federer, Dua Lipa, and Vogue's editor Anna Wintour.The event is held on first Monday in May and the guests include actors, musicians, models and fashion industry insiders. The history of the Met Gala dates back to 1948, when it was hosted to raise funds for the newly established Costume Institute at the Metropolitan Museum of Art. A ticket to the Met Gala is by invite only and costs around $50,000 for a single ticket while an entire table is priced at $300,000.This year, Bollywood will be represented at the Met Gala by two prominent actresses. Priyanka Chopra and Alia Bhatt will walk the red carpet.