LEGO Star Wars collectors have been waiting a grueling two weeks since the New York Toy Fair 2013 to hear some new intel about a new LEGO Star Wars 2013 set, but the wait is finally over. At LEGO World Copenhagen, an all-new LEGO Star Wars set was debuted. And not just any set–a LEGO Star Wars UCS (Ultimate Collector’s Series) set: the LEGO Star Wars Red Five X-Wing Starfighter 10240! It’ll cost fans who want it a tidy sum, but not nearly as much as the original version of this LEGO Star Wars vehicle…

At LEGO World Copenhagen earlier this month, LEGO announced a first-ever event: a second LEGO Star Wars UCS set being made of the same ship for the first time! The Red Five X-Wing Starfighter is of course the legendary starfighter flown by Luke Skywalker in Star Wars Episode IV, and perhaps second only to the Millennium Falcon in iconic status.

The original LEGO 7191 X-Wing Fighter Ultimate Collector’s Series set was released in the year 2000, and was the second LEGO Star Wars UCS set ever released. It’s important to note that this set is an all-new build of the Ultimate Collector’s Series X-Wing–it’s a redo, not a reissue.

This release is significant because it’s the first time that LEGO has ever redone a LEGO Star Wars Ultimate Collector’s Series set. The original LEGO Star Wars UCS X-Wing 7191 is somewhat of an unobtainable holy grail for many collectors, as it sells for over $1000 sealed in box and $250-$400 open and complete.

With the release of the LEGO 10240 Red Five X-Wing Starfighter, LEGO Star Wars fans who’ve always wanted their own Ultimate Collector’s Series X-Wing can finally breathe a sigh of release and have the opportunity to own a new build of the legendary ship at a much more affordable price.

The LEGO designer of this UCS Red Five X-Wing worked diligently from screenshots of Star Wars A New Hope to make this model as accurate as possible. Coming in 1,558 pieces and a price-point of US $199.99, the LEGO Star Wars 10240 Red Five X-Wing UCS set is easily the most ambitious Star Wars set LEGO has announced thus far for 2013. The 10240 X-Wing features opening wings and cockpit, and is more detailed than any LEGO X-Wing vehicle released before.

Don’t get this X-Wing confused with a typical minifigure-scaled LEGO X-Wing, though–this UCS X-Wing is over 20″ long, 10″ high, and 18″ wide! This is one huge set, so you’d better start clearing some space for it if you’re planning to add it to your collection this spring!

The set will also include a display stand, a data sheet label, and an R2-D2 astromech droid minifigure (yes, it’s the same old R2-D2 minifigure that’s been released about a zillion times now).

The LEGO Star Wars Red Five X-Wing Starfighter 10240 Ultimate Collector’s Series set will be released in May 2013 for $199.99. You won’t be able to purchase it from your usual local retailers, though–the set will be available exclusively from the online LEGO Store and official brick-and-mortar LEGO Stores.