Alright everyone, gird your loins!

And Kate Middleton's engagement ring is worth a lot of money, shockingly.

All of this week's biggest fashion news, all in one place.

It's Columbus Day and you know what that means: SALE! And, hey, even if you don't have the day off (tragic), that doesn't mean you can't sneak in a little online shopping time. Click through to see the our full list.

It's Day 4 of NYFW and we're still kicking, though we have a few blisters now. It may have been our best day ever because we saw Naomi Campbell and David Beckham in the same 24 hour span. Are there two more gorgeous people on Earth? Aside from those pretty people (and some surprises, like Madonna's baby Lourdes Leon), we also spotted covetable clothes at DKNY, Orla Kiely, and Antonio Azzuolo, and morning margaritas at Lyn Devon.

I love the DvF label when it's a smart interpretation of top trends. I loathe the DvF label when it's all about boho chic. Luckily, the fashion gods were on my side at yesterday's presentation of the Diane von Furstenberg Resort 2012 collection, shown in front of a glow-in-the-dark backdrop at the Highline Studios on 15th Street.

Ralph Lauren Deal: Markdowns on men and women's apparel and accessories from the Cruise, Spring and Summer collections (credit cards only). When/Where: Monday, June 6 through Thursday, June 9. Mon—Weds 9am—6:30pm, Thurs 9am—5pm. Soiffer Haskin, 317 W. 33rd St between Seventh and Eighth Aves (718-747-1656) Link: www.ralphlauren.com Ends: Thursday, 9 Jun 2011 Commune Deal: The semi-annual sale featuring samples and designs from 50 emerging and established brands including Sophia Eugene, Tikka, Uni and Cue. Everything from apparel to jewelry will be on offer. When/Where: Friday, May 27 through Thursday, June 9. Mon—Friday noon—8pm, Sun noon—6pm. 524 Hudson St between 10th and Charles Sts (No phone) Link: www.cue.cc Ends: Thursday, 9 Jun 2011 Diane von Furstenberg Deal: Up to 75% off Fall 2010 and Spring 2011 ready-to-wear. When/Where: Tuesday, June 7 through Friday, June 10. Tues 9am—6:30pm, Weds 10am—8pm, Thurs 10am—7pm, Fri 9am—3pm. 260 Fifth Ave between 28th and 29th Sts (no phone) Link: www.dvf.com Ends: Friday, 10 Jun 2011

One of our favorite fashion people, Diane von Furstenberg--who apparently just goes by DvF now, as Diddy goes by Diddy-Dirty Money--is great in front of an audience. She says ridiculous, off-the-cuff things that are actually true, and it's hilarious. And last night on Bravo's Watch What Happens Live, DvF didn't disappoint, dolling out some real--as in real funny--advice: Best snack that won't make you gain weight? "Your nails." Biggest turn off in a man? "I don't like men who tell jokes. I like shy men. My husband was a very shy when I met him." One thing you should never wear past the age of 30? "Diapers." She also let on about how her career-launching wrap dress came about.

Chances are you've recently begun hunting for the perfect holiday cocktail dress. And who does them better than Diane? But before you run over to Dv

Lily Allen's New Fashion Career: Allen and her sister Sarah Owen toasted the opening of Lucy in Disguise, the former musician's new vintage retail venture. When asked why vintage, she responded, "Well a) we love vintage and b) we're not clothing designers. It's as simple as that really." Fair enough. {Elle UK} MK & A Do TV instead of FW: Mary Kate and Ashley Olsen, who were noticeably absent from NYFW, will be on Ellen today to talk about "this season's hottest styles." {Ellen} Shoe Mecca: Next Thursday, British department store Selfridges will open the largest shoe department in the world. The 4,000+ shoes will include over 30 exclusive styles. And that's not all. An architect designed 11 individual "apartments" for major labels like Louboutin and Chanel. {Style List} Gabourey Sits Front Row: Apparently, there was a plus-sized fashion show in New York on Wednesday night. Controversial cover girl Gabourey Sidibe sat front row and former ANTM contestant Toccara Jones walked the runway. {Daily Mail}

We cannot believe Fashion's Night Out is really here. Something like a thousand shopping events are actually happening. Tonight. And they all sound amazing and, in New York, whether they're uptown or downtown, you probably want to go to all of them. While that is simply unrealistic, we are getting some help from Volkswagon, who are providing us with a fancy new 2011 Jetta to transport us and our shopping bags around what in a few short hours will be a total shitshow of a city. Jealous? Don't be - From now until 12:00 a.m., shoppers can visit two Volkswagen Style Express locations for a ride uptown or downtown in the all-new 2011 Jetta: 50th Street between 5th and 6th Avenues; and Greene Street between Spring and Prince Streets. If these end up running smoothly and often, it's probably your best bet if you want to play ping pong at Barneys before getting a manicure at the Soho Chanel store.

The FNO buzz is out of control, with retailers worldwide throwing lavish parties and bringing out the big guns to attract shoppers. While Bergdorf's and Barneys' bashes are the most elaborate, not everyone wants to stand in crowded rooms shuffling for fun. Here are some of the best smaller events that are sure to be a blast. There's everything from DVF's high tech bash to Kiki de Montparnasse's kinky party to yoga at Adidas for those who just want to relax.

High Class: The Unviersity of Monaco is now offering a Masters Degree in Luxury. The university has teamed up with Gucci and Ralph Lauren, among others, to bring you only the most prestigious education. We kid you not. {Racked} Beagles Vs. Bedbugs: Bergdorf Goodman has announced its plan to use bedbug-sniffing beagles to keep the store from going the way of so many other chains. Ehem, we're looking at you, Hollister, Victoria's Secret, and Abercrombie. {The Cut} All Dolled Up: Racked introduces its new transgender blogger, Doll. {Racked National}

Name: Kelly Age: 20 Occupation: Retail merchandise coordinator for Linea Pelle What is your favorite TV show? True Blood How would you describe your style? A mix of everything. What item of clothing are you currently obsessed with? Turbans! Where is your turban from? My mom. She finds them for me all over.