Let say you wanted to paint your home & money was not much of constrain. What paint would you use ?
Velvet paint is water based hence you can clean or wipe wall with wet clothe. If there are kids in home your wall will tend to get markings by kids sketch pens & pencils. Velvet will get spoiled. Luster is best way to keep maintenance easy.
To get an idea of the cost – if luster costs you x amount for a home then velvet would cost 20 to 30% more.