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It’s baaack. The party season returned with a vengeance Wednesday night, when Chanel hosted a lavish dinner for 300 in the newly renovated ballroom of The Plaza.

Every social worth her standing turned out, as did a handful of TV actresses (whose time has really been freed up with the writers’ strike), for the glittering affair celebrating Coco Chanel’s affection for diamonds.

Selma Blair, Blake Lively and her “Gossip Girls” co-star Penn Badgley, Christy Turlington and Ed Burns, Tory Burch, Samantha Rosen, Amanda Brooks, Marjorie Gubelmann, and Serena Boardman lounged on suede banquettes, dining on goat cheese and potato terrine and filet mignon.

But the star of the evening—outside of the diamond jewelry on display—was the restored ballroom. “Frank Sinatra used to get down in there,” said Erin Wasson excitedly.

“The last time they redid it, Ivana did it and we all came,” recalled Jamee Gregory. “It was covered in gold. I think they’ve toned it down.” For the occasion, party planner Bronson van Wyck flew in camellias from Belgium and dressed the tables in delicate silk velvet with thousands of white ranunculus in mirrored vases.

“I used to come here to have tea and visit Eloise,” said Ellen Pompeo, who soon jets off to Paris for the Armani Privé show. Many of the other guests were hours away from flying to Lauren Davis’ wedding in Cartagena, Colombia and so they called it an early night.

For further coverage, see Tuesday’s WWD.

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