Does This Photo Reveal A Shaved Kate Upton?

To the best of our knowledge, lingerie model Kate Upton has never posed nude—but this photo from the Bare Necessities lingerie line gives a hint of what she might look like naked.

Yes, if our eyes are to be believed, these sheer panties reveal that Kate's opted to go bare downstairs, at least for this photo shoot. Well, that, or someone's chosen to photoshop all her hair away from the photo...which seems like a very interesting sort of censorship.

· Bare Necessities (barenecessities.com)