I think that this top would work fine for work.
I think that with velvet, a lot depends on the cut and even the color. I think that black and other neutrals are easier to get away with in a professional or casual setting. However, deep reds and blues and greens are read much more "holiday festive" to me.
I recently bought the below jacket but decided to return it because it was just too "party time" for me. It was beautiful, but I wanted something that I could wear in a variety of settings. So back it goes. I'll be looking for something in a more neutral color that doesn't have so much bling (there are more gold buttons on the sleeves, which you can't see in the pic).
I also bought the pants below, but for some reason, they don't seem to me to be so festive looking. Maybe it is because of the lack of bling. I have worn them with a plain white top or ivory turtleneck and don't feel out of place in a professional or casual setting. I think that maybe the fact that corduroy has been back for a few years might have affected my feeling about the pants, because some of the newer corduroys are almost like velvet.
