To dream of velvet, portends very successful enterprises.
If you wear it, some distinction will be conferred upon you.
To see old velvet, means your prosperity will suffer from your extreme pride.
If a young woman dreams that she is clothed in velvet garments, it denotes that she will have honors bestowed upon her, and the choice between several wealthy lovers. ... Ten Thousand Dream Interpretation
Vision: Looking at velvet cloth or clothing made from velvet: you will increase in stature. Wearing or stroking velvet clothes: you would like to escape from the daily grind and yearn for a loving relationship. Seeing others in velvet clothes: you will meet powerful people who will be helpful to you.
Depth Psychology: Wearing velvet clothes: you are a bit vain and arrogant. Are you trying to impress people with what you wear? It won’t work! See Clothes, Silk.... Dreamers Dictionary