Gossip around town is that cobalt blue is the new black. Blake Lively looks gorgeous in this number at the Saks Fifth Avenue Dinner. We’re loving the matching pink sapphire jewels and black Louboutin pumps. Thank goodness for “fashion flipping.”

Style.com

Blake’s dress is by A-list celeb Victoria Beckham. The number 7 Lombez dress fits her like a glove. To see more by the designer (slash former Spice Girl) click here.

Get the look for less with this dress by Black Halo for $345.00.

Black Halo

The accessories might be harder to come by. (We’re assuming Fred Leighton) So for statement pieces like the triple stone chandelier earrings and pink sapphire bangle you may want to opt for something on the costume side…

Chandelier Earrings

Pink Bangles