Justin Timberlake splurges on jewels for Jessica!

Justin Timberlake spent $60,000 on jewellery for his girlfriend Jessica Biel.

The singer splashed out the huge sum on a pair of Montblanc diamond earrings and a bespoke diamond Chanel J12 watch and presented them to the 27-year-old actress before the Metropolitan Museum of Art Costume Institute Gala in New York on Monday.

A source said: "Justin splashed out on the trinkets to show his devotion."

Jessica was reportedly upset with the 28-year-old pop heartthrob's steamy antics with Ciara, 23, in the music video for the pair's song 'Love Sex Magic'.

Justin was co-hosting the exclusive event with fashion designer Marc Jacobs, supermodel Kate Moss and US Vogue editor Anna Wintour.

Tables at the gala cost an average of $120,000.

Well it's obvious that they aren't suffering from the credit crunch!

(Photos:DailyMail)

Fashion Fever at the Metropolitan Gala!

New York was jam packed with celebrities, fashion icons and designers yesterday night, at the annual Metropolitan Museum of Art's Costume Institute Gala.

There were plenty of fashion Hits..Here are just some of the great otufits on show..

Victoria Beckham in a Marc Jacobs polka dot dress and satin Louis Vuitton pumps with balls on the heels

Kate Moss arrived with Marc Jacobs in his gold lame toga creation teamed with a turban by milliner Stephen Jones

Liz Hurley in a peach ensemble by Elie Saab

Kate Beckinsale wore a sweeping feathered skirt and bejewelled top by Marchesa

Justin Timberlake's girlfriend Jessica Biel wore a sweeping Versace red dress

Supermodel Gisele Bundchen with new hubby Tom Brady kept it short in a Versace mini

Eva Longoria, with husband Tony Parker, wore a peep-hole Diane von Furstenberg dress

Israeli supermodel Bar Refaeli in a Marchesa mini and Christian Louboutin heels

Katy Perry in a Cleopatra-inspired Tommy Hilfiger dress

Cindy Crawford arrived with Donatella Versace in a dress by the designer

Claudia Schiffer opted for sheer Versace gown

Anne Hathaway went for the '80s look in a Marc Jacobs mini dress

(Photos: DailyMail)