Just in time for the holidays, Dyson has released a $500 gadget that could be simply perfect for that special someone -- granted that they have long enough hair.

Dyson's new product is a curling wand called the Airwrap. It's a curling iron, kind of. It doesn't fry your hair like a traditional curling iron does. Instead, Dyson's Airwrap uses a powerful motor that spins crazy fast inside the tool's barrel. That fast-spinning motor attracts your hair and twirls it into curls. The scientific term for this is the Coanda effect.

The result is luscious, bouncy curls without damaged hair. You can purchase other attachments for the Airwrap to smooth and straighten your hair. It can also style and dry wet hair.

This isn't Dyson's first foray into hair tools. Two years ago, they unveiled the Dyson Supersonic Hair Dryer. The fancy pants hair dryer runs $400 and has generally received positive reviews. It's designed to be lighter and easier to hold than a standard hair dryer.

To bring both products to market, Dyson invested massive amounts of money and engineering manpower. According to New York Times, it took Dyson six years, 642 prototype iterations, and $31.4 million in development costs to bring the Airwrap to market. It's been available for purchase for just over a month, and the reviews are starting to roll in. Those who have left comments on dyson.com seem to love their $500 curling wand, though it does seem there's a bit of a learning curve. One woman called it a "technological marvel."

So is it worth the splurge? Probably depends on how much cash you have burning a hole in your pocket and how into curling your hair you are.