Derek Lam’s exclusive collection for eBay was released yesterday online.  Prior to the launch, eBay and Lam asked fans to vote for their top looks to be sold on the auction site with the Buy it Now option. Lam feted the new collection  with a block party at his store in SoHo last night co-hosted by actress Rachel Bilson.  Fashion insiders, actress Rose Byrne, Zoë Kravitz, Constance Jablonski, China Chow and even designer Prabal Gurung came out to support the designer’s collaboration.  Guests also had the opportunity to try on the dresses before purchase.  A fresh faced Bilson, who had just landed hours earlier from her trip to Cannes for the Chanel Cruise 2012, told us she is digging maxi dresses paired with blazers for Spring.

Proving that fashion people do eat, guests noshed on food truck favorites from Wafels & Dinges, Van Leeuwen Artisan Ice Cream, Rickshaw Dumpling Bar and BLT Burger, which ran out of cheeseburgers.  Lam told us it was his “version of the San Gennaro festival.” Of course champagne, vino and sparkling water were spotted in the hands of party goers, who mingled while listening to music by DJ Salvatore Morale and model Maryna Linchuk.

In addition to the five dresses in the DEREK LAM + eBay collection, the designer announced the addition of the Tee Shirt Dress, available exclusively through the eBay Fashion iPhone App. The collection, including the Shift Dress; the Black Tie Dress; the Sun Dress; the Boho Dress; Chemise Dress; and the mobile-exclusive Tee Shirt Dress, is available for purchase at accessible, Buy It Now price points from $125 – $295 in sizes 0-16 at dereklam.ebay.com. Check out more photos from last night’s party here.