Lady Gaga has arrived. Repeat: Lady Gaga has arrived at the Oscars.

Lady Gaga at the Oscars 2019
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The singer looked the very picture of glamour in a custom-made Alexander McQueen. She also wore a Tiffany & Co necklace worth more than $30 million (£22.9 million).

The 128-carat yellow diamond was last worn by Audrey Hepburn during the Breakfast At Tiffany’s press tour in 1961. The precious stone was first discovered in South Africa over 140 years ago by Tiffany founder Charles Lewis Tiffany.

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'Lady Gaga is the ultimate creator, innovator and rule breaker, and I’m thrilled that she will be wearing the legendary Tiffany Diamond on the awards show red carpet for the first time since it was discovered 141 years ago,' Reed Krakoff, Tiffany & Co chief artistic officer, said in a statement published by People.

Lady Gaga at the Oscars 2019
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Other than Hepburn, the only other person to wear the valuable piece was socialite Mary Whitehouse who debuted it at the 1957 Tiffany Ball in Newport, Rhode Island. It has also been showcased in the brand's Fifth Avenue windows.

She is nominated for one of the biggest awards of the night, Best Actress, for her incredible performance in A Star Is Born.

Lady Gaga at the Oscars 2019
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Another fun fact we learnt tonight? Gaga and actress Glenn Close, also up for Best Actress, are good friends. Yep, that's right. The 71-year-old performer has even made to Lady Gaga's family restaurant, Joanne Trattoria, on the Upper West Side in New York.

Lady Gaga at the Oscars 2019
Getty Images

Gaga is competing with Close (The Wife), Yalitza Aparicio (Roma), Olivia Colman (The Favourite) and Melissa McCarthy (Can You Forgive Me?) to take home the Best Actress trophy tonight.