At the American International Toy Fair in New York, Hot Wheels has unveiled the anniversary car. And, it's diamond-encrusted. The car's 18-karat white gold frame is covered in 2,700 blue, black, and white diamonds - reportedly to mimic Hot Wheels' Spectraflame blue paint. The 1:64 scale car was designed by celebrity jeweler Jason of Beverly Hills.

"Collaborating with Mattel on the jeweled Hot Wheels car was a dream project for me," said Jason Arasheben, president and CEO of Jason of Beverly Hills. "The car is truly spectacular and will be a brilliant addition to anyone's collection."

The 23-carat car with all the bling carries a giant price tag at $140,000 and will be auctioned off to benefit the charity Big Brothers Big Sisters in late 2008.