That beacon of political aspirations Vanity Fair has a nice little article up concerning the RNC's own version of the red carpet.
It also mentions Laura Bush's wardrobe which costs a hundredth of what Cindy wore, so I'll lay off her since that's at least sensible. She's also married to arguably the worst president ever, so she's got that going for her.
Oscar de la Renta dress: $3,000
Chanel J12 White Ceramic Watch: $4,500
Three-carat diamond earrings: $280,000
Four-strand pearl necklace: $11,000–$25,000
Shoes, designer unknown: $600
Total: Between $299,100 and $313,100
I don't think it's made of dalmatian puppies, but I could be wrong.