Victoria's Secret unveils 2008 'Fantasy Bra'

With the holiday season approaching, Victoria's Secret unveiled its annual jewel-encrusted "Fantasy Bra" on Monday, with this year's lingerie creation totaling more than 1,000 carats and valued at $5 million.

Jeweler Martin Katz crafted the 2008 Black Diamond Fantasy Miracle Bra using 3,575 black diamonds, 117 certified one-carat round diamonds and 34 rubies.

The piece de resistance of the bra's design, however, is two black-diamond drops totaling 100 carats.

Dubbed "the ultimate fantasy gift" by the Columbus, Ohio, intimate apparel company, the bra, modeled by supermodel Adriana Lima, is adorned with 3,900 gems and totals 1,500 carats.

Victoria's Secret has been partnering with jewelers to create an over-the-top bedazzled bra since 1996.

Past Fantasy Bra creations include 2006's "Hearts On Fire Fantasy Bra," a balconet-style brassiere with more than 2,000 diamonds weighing a total of 800 carats and modeled by Karolina Kurkova.

That bra's estimated value was $6.5 million and marked the 10th anniversary of the Fantasy Bra.