Peel the oranges and cut each orange cross ways into about 1/4 inch slices. Using a serrated knife works best for this task and loses the least amount of juice while slicing. Arrange the slices stacked in a bowl.
Open the pomegranate in a bowl of water and remove all seeds (If you've never heard this trick for opening a pomegranate before - your world will be forever changed!) Remove all large pieces of flesh and strain the pomegranate seeds, reserving 1/4 cup of the water.
Wash basil and remove the leaves. Cut any larger basil leaves down to manageable pretty sizes.
In a small bowl whisk together 1/4 cup reserved pomegranate water, 1/2 cup champagne vinegar, and the juice from one lime.
Pour the dressing mixture over the oranges, add the basil leaves and allow the salad to chill in the fridge for about an hour. Serve the oranges stacked with pomegranate seeds sprinkled on top.