In 1965, the Academy of Motion Picture Arts and Sciences still gave seperate awards for films in black-and-white and films in color. My Fair Lady™ probably could have won either of them. The film won the award for color, of course, but color was only one element of this lavishly beautiful, extravagant set.
Cecil Beaton spun his magic again (he also won the Academy Award® for his costume designs) with his extraordinary eye for detail. $1,000,000 was spent on these sets which spanned nearly 26 Warner Studio's sound stages.
Many of the Art Nouveau and Edwardian details were hand-picked or hand-made. In Higgin's study, the oriental carpets were re-dyed to bring the colors of the room into balance . Specially trained artisans made the stained glass windows while the beautiful oak stairway was hand-carved.

Dame Gladys Cooper led a long and glamorous career in show business. She was a chorus girl at age16 and became the foremost pinup girl and the toast of the British Empire during WW1. She then took her talents to the stage where she became a star and in 1940, she arrived in Hollywood to play a role in Rebecca.
She had a long, prolific career in the American film industry and was nominated for three Academy Awards®, one for her role in My Fair Lady.
A little known fact: the painting above the mantel in Professor Higgins' study is a portrait of the young Gladys Cooper.