Awhile back we mentioned the fact that Victoria Beckham was getting into the designer dress business in an unexpectedly low-key way, and so it only seems fitting now to show off some of what she came up with. She clearly favors pencil skirts and below the knee lengths, although in the collection below she does have a couple mini-skirts and even a pretty wool cape for chilly evenings. But her style is hardly forgiving of less than perfect figures, and since most of her designs seem to be based on the same basic shape I think you'll either look great in all of her styles of none of them.

Retail therapy has changed a lot in the past year. The splurge has been replaced by the investment with the bag of the moment being released by the bag to last a lifetime. But is a handbag really a good investment? Lesley M. M. Blume of The Big Money crunches the numbers when it comes purchasing with an eye toward selling later. When it comes to jewelry, unless you are talking about highly collectible pieces or rare stones that possess certain qualities of color and size, you probably aren't going to be able to sell for what you purchased for in a retail store.

And what about the Holy Grail of investment purses, the Hermes Birkin bag? We've seen Birkins make big numbers at auctions and they are hot sellers at consignment stores. Victoria Beckham reportedly owns more than 100 of the hard-to-obtain bags. And the recent book "Bringing Home The Birkin" tells the story of a man who made a living obtaining the hard-to-get bags and then selling them to customers interesting in jumping the famous waiting list.

Blume says that if you bought a bag, one of the more modest models, for around $7,000 in 2007 you could likely resell it at a resale boutique for around $8,300 but you would then have to pay a cut to the shop leaving you with about $6,000. The article doesn't mention that you could sell the way "Bringing Home the Birkin" author Michael Tonello did and put your bag on up for sale online. Tonello used eBay which charges a smaller percentage. You could also try Portero.com but they take a whopping 30 percent of your haul so you'd have to mark up accordingly.

Other bags sell well in some places especially if the bag is vintage and rare but usually nothing beats a Birkin. Calling the bag an investment may be a bit of a stretch since you'd still be better off socking that money away somewhere where it would earn modest and stable interest but the article does make a good point for value. In the long run, whether you are looking with an eye toward resale or not, it is perhaps better to buy one more expensive and high quality item than several of lesser value. This viewpoint provides a bit of retooling the shopping strategy. The quick retail fix, the "must-have-it-now" era has been replaced by mulling, considering, evaluating and then finally purchasing.

If a new report out of Italy can be believed - and something may well have been lost in translation - David and Victoria Beckham have failed in a bid to buy part of Milan's famed Castello Sforzesco (above), a 15th century castle that now houses artworks by Michelangelo and Da Vinci. Apparently the mega-rich Beckhams have been house shopping in Milan as he expects to sign a soccer contract there. Victoria is said to have set her eye on the centrally located, historically significant and imposing edifice, but was firmly denied by the Milan City Council. There were also rumors that Victoria wanted to buy a whole floor of the Armani hotel which is being built in the city, though that scheme has also come to naught. Hey, anything's possible with those two.

One side effect of the implosion of Dubai's economy which my colleague Deidre Woollard reported on last month is the plummeting value of trophy properties owned by certain superstars. Celebs including David and Victoria Beckham (above), Brad Pitt and Angelina Jolie, and Michael Jackson are losing £80,000 or over $100,000 a week as the luxury real estate they purchased in the over-inflated Emirate plunges in value, the London Daily Mirror reports. Posh properties that were worth £3.2 million (or about $4.4 million) in October now on the market for £1.6 million (or about $2.2 million), i.e. only half as much.

"The Dubai market has fallen off a cliff," Jack Whisker of luxury agents Dream Property Dubai tells the paper. "The credit crunch hit us suddenly because all the foreign investors lost confidence. It has hit the higher-value properties the hardest." In January Deidre reported that the Beckhams, who have a luxury villa on the Palm Jumeirah complex, were considering purchasing a second property in the Burj Dubai tower, so they could be doubly exposed. Brad and Angelina reportedly own one of the artificial islands in the out-there development known as The World.

George Clooney is quite a pal. According to Hello magazine, the movie star just lent his lavish $6 million villa on Italy's famed Lake Como (above) to soccer superstar David Beckham and his wife Victoria. Beckham, whose taste for the finer things in life has been often noted here, is being fought over by two soccer teams, the LA Galaxy and Italy's AC Milan. The Beckhams will take some relaxing time out at the villa while waiting to see the if LA Galaxy will release him from his contract and allow a transfer to AC Milan, the magazine reports. "George has really taken David under his wing since the transfer trouble started," they note.

The luxurious villa, which has played host to many of Clooney's superstar pals, is just half an hour away from the Beckhams' base in Milan. Clooney, 47, and Beckham, 33, became friends after being introduced by Giorgio Armani, (whose underwear ads the Beckhams star in), at the Met Ball in New York last May. Luxe Lake Como, where scenes from the last two James Bond movies were shot, has long been a favorite retreat for Italy's rich and famous and the international jetset. As we mentioned last month, the contents of late designer Gianni Versace's villa there are being auctioned off by Sotheby's in March.

David Beckham's huge semi-nude advertisements for Emporio Armani underwear caused whole crowds to swoon. Now his wife is getting in on the act. Victoria Beckham will pose in just her Emporio Armani Women's underwear for the brand's Spring/Summer 2009 campaign being shot by photographers Mert Alas and Marcus Piggott. In a press release Armani said of Mrs. Beckham, "Victoria is a style icon, a dynamic lady whose influence and recognition will add great excitement to the continued international growth of our Emporio Armani women's underwear business." She is certainly stylish, but I'd have preferred a woman with a little more curve to create the same kind of ooh-la-la reaction that David Beckham's ads got.

David Beckham's ultra-luxe customized 2002 Bentley Arnage T (above) is up for sale in the UK. The soccer star outfitted the top-of-the-line $290,000 car with $120,000 worth of options and extras, bringing the total original cost to $410,000. The 450 h.p. twin turbo V12, which has only 25,000 miles on it, is being offered for $170,000, the UK Auto Trader reports. Beckham drove the Bentley to Buckingham Palace in 2003 when the Queen of England decorated him with an OBE, and it is said to be one of only two Arnages pictured on the walls of Bentley's head office in Crewe; the other belongs to the Queen herself.

Among the many extras Beckham had installed are a custom cream leather interior, a refrigerator and TV screens in the rear compartment, "Le Mans"-style wing vents, and a matching cream leather child seat embroidered with his son's name, Brooklyn. He also had his wife's name, Victoria (aka Posh), embroidered into the rear center leather console. Nowadays, Beckham, who is living in Los Angeles and playing for the L.A. Galaxy, drives a customized $500,000+ Rolls-Royce Drophead Coupe, as we reported last month.

The Beckhams have a knack for getting themselves into the spotlight, so it seems a little out of character that Victoria Beckham's
debut as fashion designer will be happening in a very quiet and private way. Instead of showing off her new upscale dress designs via the catwalk at New York Fashion Week she will instead be showing them by appointment only over a period of several days.

Why she's going with such a quiet launch isn't clear, although if the dresses are successful I'm sure we'll all get to see them soon enough. Expect price tags for the collection to be upwards of $1200.

Louis Vuitton designer Marc Jacobs will open a boutique for his signature collection at the lavish Elysian Hotel development in Chicago (right) early in 2009. Jacobs' quirky, so-hip-it-hurts clothing is revered by celebs like Victoria Beckham, who starred in his ad campaign.

Jacobs has inked a ten-year lease on the 2,700-sq.-ft. space, which will be located in the development's Beaux Arts-style retail courtyard. The designer already has a boutique for his bridge line, Marc by Marc Jacobs, in the Windy City.

The 60-story edifice designed by architect Lucien Lagrange, is being billed as "a throwback to the grand hotels of the 1920's with the modern conveniences of today." It features 188 guest suites starting at $600,000, 51 private residences which start at $3 million, and a restaurant by famed chef Charlie Trotter.

David and Victoria Beckham are notoriously generous with each other on their birthdays, splashing out on jewels, watches, cars and lavish vacations. Now The Sun reports that David Beckham bought Victoria her own winery in Napa and the pair will be making their own wine. Last month, the paparazzi spotted the pair along with celebrity pals, Tom Cruise, Katie Holmes, Seal, Heidi Klum, Kate Beckinsale and Len Wiseman, touring a winery. It was assumed they were just going wine tasting but apparently while winetasting, David presented Victoria with a bottle with her name on it. The couple isn't planning to go into the wine business, they will just be making their vintage for family and friends.

A few weeks ago, we learned that Victoria Beckham had bought her kids a Neiman Marcus treehouse for Christmas, now The Sun reports that David Beckham has bought his wife a book for Christmas. Now a book may not sound like much of a present, especially for Victoria, who, although she has authored a couple of books, famously claimed in 2005 never to have read one, but this is no ordinary book. David bought Victoria Una Grande Storia Italiana - Valentino Garavani, a fabulous new book from Taschen which celebrates the designer. The book comes in a silk-covered clamshell box that is tinted in Valentino red. Inside, the 738-page book includes drawings, magazine shoots, advertisements, portraits of Valentino, and documentary photographs. The text includes Vanity Fair writer Matt Tyrnauer's interviews with twenty of Valentino's collaborators and friends and a tribute to Valentino by fashion writer Suzy Menkes. The Collector's Edition is limited to 2,000 individually numbered copies, each signed by Valentino and sells for $1,000. At least if Victoria doesn't read it she can check out the pretty pictures.

England's The Daily Mail has a fun piece on just how much some top celebs are spending on handbags. There aren't any Americans on the list but one recent transplant to the U.S., our favorite free-spending Spice Girl tops the list. According to the piece Victoria Beckham has been spotted this year toting around an astounding £23,625 in purses. And that's just seven bags, I am pretty certain Posh Spice has a lot more bags than that in her closet. The number shown at right, a little purple Hermes clutch to match the purple and silver dress she wore to the Marc Jacobs show in September cost a cool £3,000.

By comparison, Kate Moss came in with just £11,390 in pricey bags. I'd love to see a list of American celebs with a bag addiction. Who would top the list? Now that Lindsay Lohan is reportedly broke I would guess that either Paris Hilton or perhaps one of the Olsen twins with their endless parade of giant Balenciega bags might top that list.

The icons of an age are often immortalized by artists. Artist Gerald Laing may not be as famous as Andy Warhol for his Pop Art portraits but he has been doing them since the early 1960s when he created Pop Art pictures of Brigitte Bardot. His latest work includes picture of Amy Winehouse, Kate Moss and Victoria Beckham. Moss has been sort of all-purpose muse for a variety of artists ranging from Banksy to Lucien Freud.

The works represent a turn in Laing's recent work, a sharp commentary on the war in Iraq that featured images of torture from Abu Ghraib prison. The sweetest of the pictures is The Kiss, a picture of Amy Winehouse on a red carpet kissing her husband, Blake Fielder-Civil. You can pick up a imited edition prints of this picture for £1,000 from the Ocontemporary gallery.

Each year we chronicle the Neiman Marcus Fantasy Gifts but we rarely get to hear about who purchases them. This year though, free-spending Victoria Beckham is said to have bought one of them. It is being reported that Posh Spice spent $50,000 on the Treetent at the Neiman Marcus in Beverly Hills. The Treetent was created by Dutch sculptor and designer Dré Wapenaar and has a a nine-foot-diameter hardwood floor and round mattress. It sleeps two adults but she is said to have bought this as a fabulous fort for her three children. it isn't the first time that the Beckhams have bought their children a luxurious treehouse, a couple of years ago they spent around $187,000 for a much-contested playhouse at their English estate.

As his football career seems to be winding down, LA Galaxy soccer star David Beckham is lining up sponsorship deals that will ensure he and wife Victoria continue to live the lifestyle to which they have become accustomed. His latest endorsement deal is for Armani's Emporio SS08 range of men's underwear. Beckham will be paid $20 million for the three-year deal and has already shot the first billboard campaign. I, for one, am looking forward to the results of that photo shoot, which will appear on billboards and magazines in January.