It was all about high-end fashion, designer creations, ramp walks and pink carpet interviews during the annual Victoria's Secret Fashion Show.

However, one of the more important aspects of the event is the display of the iconic Fantasy bra, studded with jewels, gems and diamonds. Typically, Victoria's Secret selects a single supermodel to display this unique, bejeweled bra during the show each year.

Although the bra was initially showcased only in VS catalogs, the luxe lingerie brand decided in 2001 to begin showcasing it during the annual fashion shows as well.

Victoria's Secret Angels who have donned these designer creations include Gisele Bundchen, Tyra Banks, Karolina Kurkova and Adriana Lima. However, the highlight of the list must surely be Heidi Klum, who has worn the Fantasy Bra in three different years.

Although each Fantasy Bra is an enormously expensive proposition in itself, Victoria's Secret outdid itself back in 2000, when the bra and panties set modeled by Bundchen was declared by Guinness World Records to be the most expensive such lingerie creation ever designed, valued at $15 million. For the record, model Miranda Kerr has been selected to display the new 2011 creation, which is valued at $2.5 million.

It's such an honor to wear the bra, People magazine quoted Kerr as saying, And it's such a piece of artwork! It's absolutely stunning -- it kind of feels a little mermaid-like -- but I can't believe I'm wearing $2.5 million on my chest.

The magazine also reported that the aqua push-up bra has been created in part by Long Island's London Jewelers, is hand-set with nearly 3,400 precious gems, including 142 carats of white and yellow diamonds, pearls, faceted citrines and aquamarines, all set in 18-karat white and yellow gold.

Take a look at the images of different Fantasy Bra displays over the years.