The dinner was replete with fiberglass replicas of the ancient pillars that once stood in the Coliseum and fireworks for the 500 guests, The New York Times reported Sunday.
Before the dinner, about 1,000 people saw the designer's latest couture collection and then most of the invitees who came to the party ended up dressing in Valentino.
"Incredible," Von Furstenberg said after the fireworks. "To have the Colosseum as the backdrop -- you can't do better than that."
It also was reported Valentino, 75, and his business partner, Giancarlo Giammetti, spent more than $10 million on the three-day celebration.