I wanted to re-post something from my own blog, along with the discussion I had with an anonymous philosopher. Feel free to read the whole thing at http://austinfreeman.blogspot.com (shameless plug)
I believe that beauty is indeed objective, though it comes to us subjectively. Beauty is an attribute of God, and as all Divine attributes is eternal, absolute, and universal. God's other attributes (truth, goodness, justice, power, etc.) are all the source from which we draw our conceptions of these things in the world, and I think it is the same with beauty. Just as all of these other attributes have an absolute (and thus objective) reality or fulfillment in God, so absolute (and thus objective) beauty can also be found there.
We see reflections of this perfect beauty in the world, in varied and diverse places, all of which give us a glimpse of that true, perfect beauty beyond this world (forgive me for sounding Platonic), in God. So the different reflections of this attribute, each impacting us in different ways and to different degrees, are all facets of ultimate and objective beauty. So while it may seem that beauty is subjective on one level, of we "zoom out" and consider God, we can see that objective beauty exists because it finds its absolute in Him.
I'll post the comments as comments.