Given the recent lackluster art auctions, people are understandably wary about the Art Basel Miami Beach show next month but the warm weather art event still hopes to attract the wealthy. As the Wall Street Journal reports, Cartier, which is the only jewelry sponsor of the event, will debut two jewelry collections, a high jewelry collection with tasseled pieces using sapphires and red spinels and Hypnose, an Art Deco-inspired line of black and white rings, pendants, bracelets and drop earrings. The collections will be displayed at the fair inside the Cartier Dome, which will feature a new visual installation, Diamonds, Gold and Dreams created by the filmmaker David Lynch, from Dec. 3 through Dec. 7. The piece includes a seven-minute "floating diamond" projection that will be displayed each hour accompanied by a musical score in an atmosphere that includes golden-fabric walls, gold-printed carpeting, gold trimmed display cases, an ornate curved display case for thePatiala necklace, and gold-accented furniture with reflective glass tops. The jewelry pieces will arrive in Cartier boutiques in March.

At Art Basel Miami Beach next month, renowned French champagne house Ruinart will offer a one-of-a-kind surrealistic sculpture by Dutch artist Martin Baas. Designed as the ultimate centerpiece for a champagne-lover's table, the artwork (detail above) was inspired by an elaborate 18th century Venetian chandelier. Constructed from clear Murano glass and silver, the piece was designed to appear as if a chandelier has fallen from above and is melting into the table, along with bottles of Dom Ruinart and specially designed flutes. The piece will be offered for sale at $100,000.

"Maarten's piece is all at once elegant, complex, delicate and powerful," says Ruinart's Jean Christophe Laizeau. "It is the perfect physical representation of the Dom Ruinart universe. We could not have collaborated with a more innovative and inspiring artist to express the stirring sensory experience of vertigo." Founded by Nicholas Ruinart in Reims in 1792, Ruinart was introduced to the U.S. in 1831 by Viscount Edmond Ruinart, and has been a favorite of conoisseurs ever since.

Nineteen to-covet designers including Oscar de la Renta, Manolo Blahnik, Alberta Ferretti and Christian Louboutin are teaming up with Warner Brothers and Swarovski to reinvent Dorothy's ruby slippers to commemorate the 70th anniversary of The Wizard of Oz. This time, we're not in Kansas anymore. Based on some of the designer sketches we've seen, we're talking Swarovski-fied, ruby red protect-me-from-the-evil-witch stilettos. Basically what sweet little Anne Hathaway could have used in The Devil Wears Prada.

Each designer will craft a mere two pairs, and the shoes will make their debut September 4 during New York Fashion Week, posing in Saks Fifth Avenue's window before moving on to Miami's Art Basel and further appearances throughout 2009. The iconic slippers will then be auctioned off with proceeds going to the Elizabeth Glaser Pediatric AIDS Foundation.