Covet List

The piece: Veda x Madewell Leather Moto Jacket

The investment: $550

Why it's worth it: This jacket is like that very cool friend who knows all the amazing restaurants, best places to shop, and coolest, hippest hangouts, personified. In fact, it's the jacket that that very cool friend would probably be wearing on your next brunch date, with every other girl eyeing her topper from across the restaurant, coming over just to tell her what a great jacket it is and dying to know where she found it. She'd tell them it's the product of a really awesome collaboration by two of her favorite labels. That Madewell enlisted cool-girl brand Veda to help build the most covetable of leather jackets. They'd "ooh" and "ahh" over just how soft the supple, buttery leather is, and she'd smile and nod politely while everyone else fussed. They'd ask her if it was black or navy, trying to figure out just what that amazing color is. She'd tell them it was actually "midnight," a perfectly unique blend of rich beautiful blues that happens to go with everything. Then the girls would thank her profusely, all the while plotting to gobble up their own brunch and get as quickly as possible to Madewell to snap up that jacket, too. But that doesn't have to be your friend; that could be you.

The piece: Alexander Wang Rocco Duffel in Vine Green

The investment: $895

Why it's worth it: With the New Year just weeks away, we can't think of a better way to kick off 2013 than with a brand-new bag. Yes, it might just be another excuse to go shopping, but there's no denying the star quality of this gorgeous green Alexander Wang Rocco duffel. With style setters and stars around the world sporting iterations of the Rocco season after season, the sporty-cum-chic silhouette has become a classic in its own right. And now that Wang signed on as Balenciaga's new creative director, we expect the Rocco to be even bigger next year. What's more, the refreshing vine-green hue — we love how it contrasts against the bag's iconic studs at the bottom — is right in line with 2013's color of the year. Thanks to the roomy size and handy two-strap option (it also comes with a shoulder strap), this stunner is perfect for toting around all day, every day. What more convincing do you need?

The piece: Jimmy Choo Lance Metallic Leather Sandals

The investment: $775

Why it's worth it: When they say "put your dancing shoes on" we suspect they're talking about these metallic Jimmy Choos. Even if you're not really in the party mood, we bet putting these on would change your tune. You can't help but feel sexier, cooler, and walk a little taller in these four-inch heels. Yes, they're a little more pricey than your average party shoes, but that's because they're not average at all — and they're not just for party season either. While they'll complement your dresses with a pitch-perfect dose of shine all holiday-season long, they'll also go with your jeans, skirts, dresses, and even shorts every other day of the year, too — the glam counterpart to your boyfriend denim (how very Carrie Bradshaw of you!). So while finding the perfect New Year's Eve heel might be your only priority now, rest assured, there will be no buyer's remorse when you're wearing these long after we ring in 2013.

The piece: Philosophy di Alberta Ferretti Embellished Sequined Silk-Organza Top

The investment: $825

Why it's worth it: Think about how much you're willing to spend on a great dress — then how much you'll actually wear that dress more than once. While it's hard to get away with wearing the same dress again and again, a beautiful top (that you can pair with a hundred different pieces) is a lot easier to repeat again and again. It's a piece that's as practical as it's just downright pretty. Everything from the subtle silvery hue to the beautiful shimmer is just perfect for wearing through the whole holiday season ahead — it seems practically designed for the festive season of office get-togethers and cocktail parties. And, while it was made to be the complement to your lacy skirts or metallic trousers, we have a feeling it will make even your skinny jeans the life of the party.

The piece: Alexander McQueen Printed Sheath Intarsia Dress

The investment: $1,495

Why it's worth it: Remember what McQueen did for Pippa Middleton? Yeah, these dresses have that kind of effect. If you're of the mindset that only wedding dresses should cost that much, keep in mind that you won't wear your wedding dress nearly as often as you'll wear this one. It's the queen of cocktail dresses, really. The look is iconic McQueen, the silhouette is timeless, and the finish is provocative enough to evoke interest, while actually helping to slim and shape you with its artful print. While we'll usually sing the praises of an investment's versatility and all the many ways you'll wear it, that's not quite the point with this one. We won't say you can wear this one to work and then later to dinner with girlfriends, but that's not the point either. This is a real cocktail dress, an event dress that's meant to turn heads, drum up a little attention — ever so subtly, though, without a plunging neckline and a thigh-high hemline — and, like Pippa, very quietly steal the show.

The piece: Coach Transatlantic Travel Carry-On

The investment: $698

Why it's worth it: Don't let the fact that you'll find this perfect, will-only-get-better-with-wear leather weekender in Coach's men's section bother you; you can find some pretty amazing stuff there (try the boys' department at J.Crew, for example, or that cashmere pullover you borrowed from your boyfriend and aren't giving back). The fact is that this weekender isn't just gender neutral, it's a classic. It's the kind of luggage that looks like you inherited it from a grandparent with its timeless, unassuming shape and luxe finish. Since we weren't so lucky, it's also the kind of piece we wouldn't mind investing in on our own — a piece that will give us that sophisticated, world-traveler look, no matter where we're headed. Plus, years from now, we will be the grandparent that gifts our granddaughter (or grandson) with this perfect travel companion — one that we suspect will look just as gorgeous then as it does now.

The piece: Surface to Air Leather Buckle Wedge Ankle Boots

The investment: $440

Why it's worth it: Your other boots should be afraid, very afraid. These boots mean business and they're about to put all of your other pairs out of work. Don't feel bad — they're as cool as they are practical, so you really can't help but want to wear them everywhere. That's the upside of this investment: you don't have to worry about them getting wet or whether you can walk all the way home in them (with the wedge being just a little over four inches, they make it easy on your feet). Through rain, snow, and sleet, these boots will carry you through all of the seasonal elements in style and look just as chic with leather leggings or your favorite jeans as they will styled up with flowy dresses and tights or miniskirts and a leather jacket. Can any of your other boots do that?

The piece: Rag & Bone Striped Egg Coat

The investment: $995

Why it's worth it: This coat is downtown cool personified. It is the piece you'll return to occasion after occasion to look cool, without ever looking like you tried. We love the perfect borrowed-from-the-boys shape and the riff on classic stripes, giving it enough personality to shape basic jeans and t-shirts without making too much of a statement that we fear it's too flashy or that it won't last past this season (because, really when do stripes ever go out of style?). Rest assured, this is a find that would last you well beyond this Fall, Winter, and early Spring this year and the next. We suspect it'll become one of those great vintage pieces a very lucky daughter one day inherits — and what's a better testament to a worthy investment piece than that?

Photo courtesy of Shopbop

The Piece: Coach Classics Shoulder Bag

The Investment: $300

Why We Covet: Coach has gotten back to their roots, and we like the result. Their Coach Classics collection consists of iconic Coach styles from the '70s, all reworked to feel just modern enough. This '70s-era style has been downsized a bit, making it perfect to throw on for a busy day around town. The classic look means this is a bag you won't be tossing to the back of your closet anytime soon, and the price is totally reasonable for a lifetime investment.

Check out other items from our Covet List!

The Piece: Imitation Lace Tunic

The Investment: $280

Why We Covet: It will certainly be the prettiest piece in your closet, but it could also be the most versatile. Wear it now with skinny jeans and nude sandals during the day, with leather pants and tough jewelry on cool nights, and with opaque tights and a big sweater next fall. If you want to show off stems, you could potentially wear this as a minidress, although we might suggest a pair of tap shorts to cover your assets when you sit down. No matter how you wear this lace tunic, it's so pretty, and so delicate, you're sure to get lots of admirers.

Check out other items from our Covet List!