Victoria’s Secret’s Million-Dollar Bras Through the Years (PHOTOS)

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For Victoria Secret’s most dedicated buyer (or catalog peruser…), the announcement of which VS angel will don the million-dollar bra during the annual fashion show each year is always a highly-anticipated moment.

The million-dollar bra tradition started in 1996 with Claudia Schiffer, and for any current and aspiring VS angel, being chosen to wear the bra is considered a modeling honor. So who’s the lucky angel this year?

None other than Miranda Kerr! The Aussie bombshell will be sporting the “Treasure Fantasy Bra,” which costs $2.5 million and features 3,500 precious gems.

Miranda joins the runway ranks alongside Adriana Lima, Tyra Banks and Heidi Klum, who have also worn the coveted lingerie piece. But none could top Gisele Bunchen’s 2000 “Red Hot Fantasy” bra and panties getup—the entire ensemble cost approximately $15 million, setting the Guiness Book World Record for the most expensive underwear in the world.

Click through the gallery to see more of Victoria’s Secret million-dollar bras and supermodels who’ve worn them over the years!

The 2011 Victoria’s Secret Fashion Show will air on Nov. 29, and will feature performances by Kanye West and Maroon 5.