The bra, which also boasts white diamonds and rubies, weighs 1,500 carats and is believed to be one of the most valuable items of underwear ever made. Two tear-shaped black diamonds, with a combined weight of 100 carats, hang down from the middle.
The one-off bra - which contains 3,900 gems in total - is modelled by Brazilian Adriana Lima in the Victoria's Secret Christmas catalogue. It was created by Martin Katz, the rare gem jeweller who has worked on previous luxury lingerie for the firm.
"This year, I've really enjoyed working with non-traditional gems," he said. "So, what better avenue, to showcase nearly 3,600 black diamonds than on the most extravagant holiday gift."
He added: "Designing it for a gorgeous Brazilian supermodel wasn't exactly a let-down either."
Lima, who will also wear the bra in a televised fashion show on Dec 3, described it as "exquisite". "It really is an honor to be wearing a Victoria's Secret fantasy bra," she said.
Despite the price tag, the bra is not the most expensive ever made. In 2005 supermodel Gisele Bundchen donned a $12.5 million bra, also made by Victoria's Secret.
$5m Fantasy Bra unveils by Victoria Secret online video