Elizabeth Olsen in Valentino | IFP’s 21st Annual Gotham Independent Film Awards

Elizabeth Olsen was one of the first ladies on the red carpet tonight at Cipriani Wall Street in New York City for the 2011 Gotham Independent Film Awards.

The “Martha Marcy May Marlene” was donned in an crystal beaded embroidered floor-length dress with nude underlining from the Resort 2012 collection by Valentino.

Elizabeth is a beautiful girl, and I adored her pinned under hairstyle with golden ringlets framing her face. Her make-up was equally flawless; from the neck up she was a true stunner.

While lovely, this isn’t the dress I would have selected for her. The silhouette lacks in giving her a definite shape. The nude lining at the neckline is supposed to play into a cowl design, but it just looks odd the way it’s falling. It’s as if a piece of the dress that’s supposed to be tucked in is sticking out.

On the upside, I think the color of the gown is much, much prettier on the red carpet than when it was photographed for the presentation. I also love the blush color of her satin clutch — it worked with the dress.

Elizabeth is wearing Kwiat jewels and Valentino sandals.