Caught in the Act

Alicia Keys & Swizz Beatz Bid Against Each Other at Charity Auction

05/07/2012 at 06:00 AM EDT

Alicia Keys laughed and giggled the night away with pal La La Anthony at the annual Bronx Charter School for the Arts auction.

The ladies were joined by their husbands – Carmelo Anthony and Swizz Beatz – and an onlooker tells us, "Alicia and Swizz looked more in love than ever, gazing into each other's eyes and kissing like no one was watching."

But their affectionate demeanor didn't stop the duo, who attended with 6-year-old song Kaseem Jr. (from Swizz's previous marriage), from bidding against each other for a guitar signed by the Rolling Stones during the Ciroc Vodka-sponsored event.

In the end, though, Keys ended up taking home a penguin drawing created in collaboration between her husband and some schoolchildren, and Swizz took a turn spinning tracks behind the deejay booth at the party.

NEXT: Inside Posh & Becks's Sweet Family Dinner