As you may have guessed from this post and this one (and even here, I guess), coats are kind of my thing. Some people lust over handbags, others favour shoes, but for me, a good coat trumps all. I only buy one new coat a year, but I keep my little collection in constant rotation (this H&M number, for example, is five years old but I have no intention of discarding it anytime soon). It's actually my favourite item to wear this time of year because it has an almost springlike feel to it -- as soon as Christmas is over, I'm always ready to ditch the red and plaid in favour of a lighter look.
Coat - H&M
Hat - Topshop
Tights - Penneys
Boots* - Steve Madden
Gloves - Accessorize
Lipstick - Posh Pink by Lancôme
*eeee I never noticed how grey these boots are (I totally thought they were as black as my tights, and in hindsight probably wouldn't have worn them with this outfit...)