The Academy Awards on Sunday have inspired Cape Town-based jewellery designer Yair Shimansky to create a custom-made diamond encrusted bra and panties set worth more than R1-million.

The lingerie is adorned with more than 300 brilliant cut diamonds, set in platinum. The design "has an organic feel that will flow with the natural lines of the body," says Shimansky.

The creation of the extravagant underwear was inspired by the news announced last month that the five leading actress nominees in this year's Oscar race - Nicole Kidman, Julianne Moore, Diane Lane, Salma Hayek and Rene Zellwegger - would each be receiving a complimentary gem-studded bra and panties from women's underwear house Victoria's Secret.

The five Hollywood stars will have their initials monogrammed on the R40 000 items.

Each bra will be custom-made.

By contrast, Shimansky's Oscar-inspired lingerie will significantly outshine that of Kidman and her fellow nominees in terms of value, design, diamond weight and "sheer glitterati-value" according to the Waterfront-based jeweller.

The diamond weight will be 80ct in total.

At the end of the month, the set will go on display at the Shimansky Collections headquarters and main showroom in the Clock Tower, V&A Waterfront, in Cape Town.