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The Five Most Fabulous New Year's Eve Parties!

Jay- Z, Beyonce Knowles Kevin Mazur/Getty Images

For most people, New Year's Eve is the time to dress up and drink champagne. For celebrities, it's the time when they get paid to party and perform. And how!

From Jay-Z and Coldplay's star-studded concert in Vegas to a royal fete in London, we're breaking down the best big-time bashes...

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1. The Cosmopolitan Hotel grand opening: This has been the most buzzed about party. The rumor mill has been in overdrive about the Vegas resort's New Year's Eve concert, where Jay-Z and Coldplay are performing. Did the Jiggaman really get 50 rooms for his entourage? Will Beyoncé and Gwyneth Paltrow get up on stage with their hubbies? We do know that Ashley Greene, Joe Jonas, Kellan Lutz and Mark Salling are a few of the VIPs who will be there. You could go, too...for a price. Rooms for the weekend were selling for $5,000.

 2. Snooki's Jersey Shore house soiree: So what if the city put the kibosh on dropping the pint-sized MTV star in a ball from the middle of Times Square—the show must go on! Snooki will now be ringing in 2011 in Jersey at the cast's original shore house as MTV cuts back and forth between there and New York. No word on who else is coming, but Snooki's already shown that she can have fun all by herself (anyone remember her champagne-fueled bubble bath and solo dance parties?). And she's still getting dropped!

3. Prince Azim's party: If his New Year's Eve party is anything like his birthday party last year, this is going to be one lavish soiree. Prince Azim of Brunei rented out an entire London hotel for his 26th birthday in 2009 and personally paid big bucks for celebs like Kristen Bell, Mariah Carey and Janet Jackson to appear. For his New Year's fete in London, he's paying $75,000 alone for 90210 hottie Matt Lanter's attendance.

4. Cabo San Lucas: Some stars have opted to pass on a paycheck and celebrate the holiday south of the border. Although there's not an official party here, celebs are flocking to Mexico to ring in 2011. Paris Hilton and Cy Waits are in town, along with George Clooney and Elisabetta Canalis, who hung with Cameron Diaz and A-Rod in Cabo over Christmas.

5. Ciroc the New Year in Miami: As if we aren't going to put our own bashes on this list! E! and Ciroc are throwing a rooftop party at the Gansevoort with Kourtney Kardashian. Our oceanfront celebration will have an open bar, fireworks, and Scott Disick (you know you wanna see what he'll wear). And if you can't make it to Miami, I'll bring the party to you when I host the livestream with Michael Yo at 8 p.m. PST/11 p.m. EST!

PHOTOS: Hollywood party pics

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