After the all of the Oscars are handed out come the after parties. One of the most famous of after parties is the Vanity Fair Oscar Party. For the third year in a row, the part was held at a custom built space adjacent from the Wallis Annenberg Center and Beverly Hills City Hall hosted by Vanity Fair editor Graydon Carter. The party is known to be a wild time and bring with it some of the best fashion of the year. Take a look at the arrivals on the red carpet and out favorite looks!