I really like the look and feel of this chair. For the price, its a stunning piece that looks really rich and modern. Chair is very true to the color shown in the pictures. I brought Blue color which goes perfectly well with my color scheme. I cannot comment on the durability though.. to be honest I don't think it is something that is going to stay with you forever because you get what you pay for. Velvet is very nice and soft and it does give you very luxurious feel. I have already received few compliments. I am a happy customer :-). I have mustard/goldenish rectangle pillow to go with this chair which makes a very good contrast with the chair.  
Tip - Chair is on a bulkier side so do measure your space before buying this chair.