Apparently any item of clothing over £1,000 is flying off the shelves right now. The sticky products are those around £300. Apart from the obvious – billionaires don’t do economic slowdowns – this suggests reverse psychology is kicking in. Who’d have thought net-a-porter.com would have sold out of an £8,000 Balmain dress already this season? (And yes, there was more than one.) In uncertain times, human nature prevaricates over a £30 jumper, but show it an eight-ply £800 one and the brain starts whispering insidious things about investment dressing.

If the brain were truly rational, it would never get distracted from the fundamental truth that investments are in the eye of the beholder and subject to financial circumstances. However, any excuse to go shopping will do, although the mood in which we shop has altered. With this in mind, I’ve made a list of five items that are both fashionable and endlessly in style. It’s a good time to buy these pieces because, in many ways, it’s a classic season.

1. A Chanel-style jacket. The real thing costs anything from £2,000, but I still wear one I got 20 years ago. Kate Moss says she’s wearing them with everything. I rest my case. Or perhaps not quite. For some women, Spirit of Chanel is as good as the real thing. Balenciaga has a “Chanel” knitted jacket for £520 with cream trim, while Gap’s Chanel-esque black and white cardigan looks pretty sharp.

2. Ankle boots. Jonathan Kelsey’s shiny leather platforms for Mulberry, £450, strike a great balance between “now” and something you can imagine wearing several years from now. Try asos.com for perky versions at £35.

How to get dressed: leather jackets

The leather jacket will be to late 2008 what the military jacket was to 2004. Make sure you pick the right one

BACKGROUND

• How to get dressed: the Miraclesuit

• How to get dressed: handling wet weather

• How to get dressed: Staying in season

• How to get dressed: Sunglasses

• Why everything is now designer

3. Earnest Sewn black straight-leg jeans – because the cotton’s so soft. Try them, but don’t be deterred if they don’t work for you. There’s a black straight leg that will – and you will wear them endlessly. Visit one of the jeans boutiques such as Trilogy (www.trilogystores.co.uk) or Donna Ida (www.donnaida.com) for their helpful service and invaluable knowledge.

4. The kind of dress you can wear to weddings, first meetings with in-laws, etc – something that looks uncontrived but luxurious. Roksanda Ilincic and Lanvin excel at these, but they’re eye-wateringly pricey. Vivienne West-wood’s Anglomania range, from £152 (www.my-wardrobe.com), is worth exploring, as is Whistles.

5. Non-Boring Knitwear – colour blocks, fine weaves, luxurious finishes and quirky details elevate this basic to something that will take you anywhere. Sonia Rykiel’s Sonia line is terrific, from around £150. Failing that, Gap has done an amazing job with striped cashmere knits this autumn – Balenciaga on a strict budget.

I’ve omitted “investments” such as the Birkin, even though it’s one of the only bags that really holds its value, because it’s too ubiquitous. As I said, it’s a personal list. Now draw up your own.

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