With the opening of "The Art of Affluence: Haute Couture and Luxury Fashions 1947-2007," you can get a taste of one of the largest but least known collections in the museum.

Charles Mo, the director of fine arts, raided the museum's 10,000-piece collection of luxury clothing, accessories and jewelry to put together a tightly edited exhibit featuring Chanel, Oscar de la Renta, Christian Dior, Valentino, Yves Saint Laurent, John Galliano, Balenciaga and many more.

Haute couture refers to custom-made clothing. The phrase is used by the world's top designers to describe their most exclusive works.

That kind of exclusivity comes with a price. A James Galanos silk velvet suit with sable fur details probably cost about $10,000 in the 1960s, Mo says. Couture gowns today can cost upward of $20,000.

A mannequin had to be pieced together to accommodate the slender, ultra-fitted Chanel dinner suit of 2003-04. But you know the effort was worth it once you catch a glimpse of the intricate craftsmanship and attention to detail of the ensemble's chic silk with net lace over wool.

The same goes for the color-blocked Gianni Versace silk georgette shirt and magenta raw silk pants (circa 1990-95), once owned by Sir Elton John.

The exhibit pays homage to designers whose names may be less known today but whose innovations remain relevant.

Need an example?

Try the funky inverted-heel shoes Marc Jacobs trotted out as part of his spring 2008 collection. They are a modern twist on the floating-heel shoe patented by Martin Friedman in 1965. Two pairs of Julius Larose floating heels (circa 1960-65) are featured.