While we obviously want to know who is going to take home the golden statuettes, when it comes to the Academy Awards, the most exciting portion is watching the stream of stars on the red carpet. There was a clear style scheme in 2014: neutrals were a hit, from timeless black and white to a sprinkling of nudes and metallics, plus lots of gorgeous high necklines with long and cap sleeves.

We thought that Naomi Watts was a stand-out in a modern Calvin Klein Collection, and an expecting Olivia Wilde was glowing in a mod black dress. But Cate Blanchett's ethereal frock will likely go down in the books for a memorable red carpet moment.

We've rounded-up all of our favorite classy looks of the night. Which dress was your favorite?

Naomi Watts in Calvin Klein Collection.

Oliva Wilde in Valentino.

Cate Blanchet in Amarni Prive.

Anne Hathaway in Gucci.

Penelope Cruz in Giambattista Valli.

Emma Watson in Vera Wang.

Jennifer Garner in Oscar de la Renta.

Sally Hawkins in Valentino.

Meryl Streep in Lanvin.

Images via E Online and The Guardian.