What kind of Fashion is Worth it? Crazy Couture or Effortless Elegance (via MFW 2010)?

Milan Fashion Week was a colorful affair full of funky cutout coats (a la Marni), floor-length floral, sheer chiffon gowns (a la Alberta Ferretti), and coordinating and contrasting spring patterns (a la D&G).

But I saw these two wildly different images and got to thinking - if you're buying designer fashion, what style is worth it?  What structured gown or must-have piece of outerwear justifies the hefty price?

Bottega Veneta  Spring/Summer 2011 via style.com

Emilio Pucci Spring/Summer 2011 via style.com

Any piece of clothing I buy at any price point will have to have a little flair.  If I buy a designer piece, it would either have to be something like the Bottega Veneta - classic, effortless chic that can be dressed up or down and worn on a number of occasions (lowering the cost per wear right Tanvii?)  Or it has to be a crazy cool and utterly show stopping piece like the ethereal flowing piece above.

What are your thoughts?  What designer pieces are worth the price for you?