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Elsa Hosk modeled this year's Fantasy Bra at the Victoria's Secret Fashion Show
The bra had over 2,100 lab-grown diamonds and was valued by the brand at a staggering $1 million
Also this week, Moschino's new collaboration with H&M was released
It includes a $199 bedazzled bra that looks strikingly similar to the Fantasy Bra
Victoria's Secret is also putting out their own $250 version of the fantasy bra that is made with Swarovski crystals

Published: 18:03 EST, 9 November 2018 | Updated: 18:04 EST, 9 November 2018

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For the first year ever, Victoria's Secret is offering a more affordable version of its Fantasy Bra for shoppers to buy.

But it seems H&M beat them to the punch, turning out their own bedazzled bit of lingerie that bares a shockingly close resemblance to the million-dollar number worn by Elsa Hosk at the fashion show this week.

In fact, their version — a $199 bralette — looks even more like the Fantasy Bra that Victoria's Secret's own less-expensive option.

So fancy: Elsa Hosk modeled this year's Fantasy Bra at the Victoria's Secret Fashion Show. The bra had over 2,100 lab-grown diamonds and was valued by the brand at $1 million

Get the look: Moschino's new collaboration with H&M includes a near-identical bra for $199

The two bras look very similar, though the VS one is pricier, heavier, and more revealing

The H&M one is a bit more practical but less flashy

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Close! The two bras look very similar, though the VS one is pricier, heavier, and more revealing

The H&M bra is from the new Moschino x H&M collaboration, which only just launched but has already sold out.

It has a bralette shape and is completely covered in rhinestones, making it strikingly similar to the one that Elsa Hosk donned at the Victoria's Secret Fashion Show, after debuting it for the press on Monday.

Even the Diet Prada Instagram account noticed how close the two designs were, an interesting coincidence given that it's unlikely either brand would have seen what the other was working on in advance.

But fans who got their hands on the Moschino x H&M bra can rejoice for how much it looks like the pricey Fantasy Bra.

This year's Atelier Swarovski-designed Dream Angels Fantasy Bra was made with over 2,100 Swarovski lab-created synthetic diamonds, as well as 'responsibly sourced' topaz and sterling silver.

Gone: The H&M bra has already sold out to eager fans who snapped it up

Fashion statement: Several of the models are shown wearing it as part of an outfit

Incredible: It actually looks quite carefully made and even has a zipper closure

There are more than 71 carats, including a particularly large gem at the center. All in all, it took over 930 hours to make.

According to the brand, the bra is worth a heart-stopping $1 million, though Grant Mobley, a diamond expert and gemologist, estimates the bra is only worth $56,800.

He noted to the New York Post that the based on the weight of the diamonds in the bra, it's easy to guess how much they cost — and while mined diamonds might tally up to that price, lab-grown diamonds are worth less.

'Only natural diamonds from the earth would put the value of the bra into the millions of dollars, as in past shows,' he said.

Another one: Victoria's Secret is also offering a less-expensive Swarovski crystal version this year for $250

Not so pricey after all? Grant Mobley, a diamond expert and gemologist, estimates the bra is actually only worth $56,800

Mobley explained that 'overvaluation of the bra is very clear' because of the price of synthetic diamonds, which he said currently sell for $800 per carat.

Even when you add the price of the synthetic diamonds, the metal, and the workmanship, he said 'the total value would still be far before six figures.'

Still, the Fantasy Bra is certainly worth a hefty sum, so it's no surprise shoppers might want to wear their own version.

To deliver on that, this year Victoria's Secret is also selling a $250 Swarovski crystal version at select stores and online on November 29.