If you care for it well velvet will last as long as wool and stay looking good but it is susceptible to numerous problems. Crushing is one problem, removing sticky residue dropped on the fibres is another

Personally I would go for the black barathea. It is traditional, looks good, and is relatively easy to care for. Velvet requires more effort, can be seen as flamboyant, and according to my daughter gives you the "Mike Myers" look