DIAMONDS ARE A GIRL'S BEST FRIEND: Jewelry and ballet formed a natural pas de deux Monday evening when Van Cleef & Arpels sponsored the School of American Ballet's annual Winter Ball at the New York State Theater. During cocktails, co-chairs Coco Kopelman, Liz Peek, Elizabeth Miller and Gillian Miniter greeted guests like Charlotte Moss, Susan Fales-Hill and Marisa Noel Brown, though their efforts were somewhat in vain. "We're trying to do a receiving line, but everyone keeps skipping us because they just want to party," laughed Kopelman. Guests sipped Champagne and admired a special preview of the emerald, ruby and diamond pieces in the house's new Ballet Précieux collection, inspired by George Balanchine's 1967 work "Jewels" and modeled by a trio of very lucky SAB students. "They should just try to find a sugar daddy and then quit," joked Jamee Gregory, who had just returned from a restful St. Barth's vacation. "I'm still rocking because I was on a boat while I was there," she said.

Peter Martins had his own advice for his bejeweled dancers. "I told them to enjoy it for as long as they can — all three hours," he quipped. "I go to Van Cleef & Arpels all of the time at the urging of my wife. And sometimes, I am successful."

DANA BUCHMAN LICENSES: Now that Liz Claiborne Inc. has licensed Dana Buchman to Kohl's, Dana Buchman outerwear licensee Lou Levy & Sons Inc. is out of what sources called a profitable arrangement. The bridge-gone-moderate brand had only one other license, for eyewear with the Kenmark Group, which will continue because eyewear is sold through optical channels independent of Kohl's, a Claiborne spokeswoman said. Lou Levy & Sons declined comment.