Thanks, ladies. I am inclined to keep both. Yeah, it's a bit of a splurge but not totally impractical since I do need new evening bags. (My silver fabric clutch broke earlier this year (not worth repairing) and I am mightily sick of my little black bag, which might be a bit dated to boot).
Angie, the sequins are surprisingly not very scratchy. Obviously they are not soft but not scratchy either. I think the trick is that they are not the normal big flat sequins but rather smaller ones with a big hole in the middle.
Robin and Suz, the preppy vibe from the tassels doesn't bug me. Yeah, I'm not preppy but a tiny little touch is fine.
Natalie, the sequin clutch actually holds a surprisingly large amount (for a clutch). The red one really does hold very little, but it's enough for the essentials. I actually have an "evening wallet" that is tiny (holds just a couple of cards and a bit of cash), which leaves more room for other things.
Rae, ah, that is the question, isn't it? I think I do go to more potentially dressy events than other people, although they are probably not technically things for which I need a sequined bag. But I will use the sequined bag nonetheless, even though everyone else might just be carrying a regular day bag. I am actually going to something (a cocktail reception and concert) next week for which I might use one of these. Plus I have several wedding-related things coming up as well.