Australia's Renae Ayris has narrowly missed out on the Miss Universe 2012 title.
The Perth-born 22-year-old was one of five women to make it the pageant's final round but was beaten by American Olivia Culpo.
The title of first runner-up went to the contestant from the Philippines, Janine Tugonon.
Last year's winner Leila Lopes of Angola, crowned jubilant Culpo, 20, to succeed her in a year-long reign.
It is the first win for an American woman since 1997, when the title was won by Brook Lee.
Miss Venezuela, Irene Sofia Esser Quintero, placed third in the contest while fourth place went to Miss Australia Renae Ayris.
Miss Brazil, Gabriela Markus rounded out the top five.
Jennifer Hawkins was the last Australian to win Miss Universe, taking out the title in 2004.