It’s a Ball for Michael Douglas : Awards: The star of “Basic Instinct” and producer of “One Flew Over the Cuckoo’s Nest” is honored by American Cinematheque.

Hollywood’s basic instinct is success. And when there’s a whiff of it, you’ll see the film community turn out.

So it was at Wednesday night’s glittery “Moving Picture Ball,” honoring Oscar winner Michael Douglas (best actor in “Wall Street” and a producer of 1975 best picture “One Flew Over the Cuckoo’s Nest”) with the Eighth American Cinematheque Award.

Hollywood’s A-list filled the Century Plaza Ballroom to salute the 49-year-old son of legendary actor Kirk Douglas. Cinematheque executive director Barbara Smith said the evening netted “well over $300,000” for the organization’s work in preserving and showing films and videos of all types.

The award is given annually to recognize a person at the peak of his career. Recipient Douglas, the star of such box-office giants as “The China Syndrome,” “Romancing the Stone,” “Fatal Attraction” and “Basic Instinct” also had a career on television (“The Streets of San Francisco”) and is an active film producer. Most recently, he got into the music business.

Before the ball program--featuring testimonials from such co-stars and friends as Danny DeVito, Kathleen Turner, Whoopi Goldberg, Goldie Hawn and Jack Lemmon--Douglas roamed the ballroom, obviously enjoying himself and greeting the people with whom he grew up and has worked.

Others attending included producer Saul Zaentz, Creative Artists Agency Chairman Michael Ovitz and Douglas’ CAA agent Ron Meyer, Columbia Pictures Chairman Mark Canton, top Warner Bros. execs Terry Semel and Bob Daly, TriStar Pictures Chairman Mike Medavoy, and producers George Stevens Jr. and Arnold Kopelson.

DeVito said he has known Douglas for 27 years, but “couldn’t publicly go into” some of the experiences they’ve shared. Hawn called Douglas “the most loyal of friends.”

Paramount Pictures Chairwoman Sherry Lansing praised him for his “hit-making” ability and the “fact that you never play it safe.” Lemmon called Douglas “a filmmaker with a social conscience.”

But it was Goldberg’s line that stole the show with bottom-line finality. Speaking of her hit film “Made in America,” which Douglas produced, she said: “You’ve made me the highest paid woman in Hollywood.”

In his speech, Douglas stuck to prepared, business-like remarks. He thanked friends and singled out his father, his wife, Diandra and “Streets of San Francisco” partner Karl Malden, who is hospitalized.

And he ended his remarks with an admonition to the Hollywood crowd: “Fight mediocrity!”