This question is quite complex and nearly impossible to answer in one syllable, so let me break it down for you.
Each palette comes with 12 full-size shadows in a wide variety of neutral shades.
Unless you've never set foot in a Sephora or an Ulta, you probably know that the original Naked palette is on top. That being said, the Naked 2 is on the bottom.
Virgin is a lovely frosted light pink. This shade is an excellent highlight shade to use under the brow or in the inner tear ducts.
Sin is a mid-toned shimmery pink. This shade is great all over the lid.
Naked is one of only two matte shades in the palette. This is a great color to use for blending other colors or to use as a soft wash of color to the lid.
Sidecar is probably my least favorite in the palette as it contains a lot of glitter (thus producing pesky fallout). However the color is a pretty medium brown, an ideal "all-over-the-lid" color.
Buck is the other matte shade in the palette. This shade is great to add definition to the crease.
Half Baked is a beautiful shimmery gold color, reminiscent of that gold Rolex we've all been wanting (er.. I mean... Michael Kors...).
Smog is a gorgeous bronze shimmer, perfect on its own as a lid color.
Darkhorse (one of my personal favorites) is a beautiful brown with green undertones and flecs of gold throughout.
Toasted is a lovely mid-toned brown with pink undertones.
Hustle is a deep brown with cooler undertones.
Creep could technically be considered a matter shade, however it does contain a lot of glitter. This shade isn't very pigmented and looks much darker in the pan than it does swatched or on the lid.
Gunmetal is exactly that, a gunmetal gray color. This shade is perfect for creating smokey, nighttime looks.
Foxy is one of three matte shades in this palette. It is a light yellow-toned neutral shade. I would recommend using this under the brow or using it to blend other colors.
Half Baked is a repeat from the original Naked which was disappointing, but I guess we can't always get what we want.
Bootycall is a gorgeous light pink shimmer. I often use this to highlight under the brow or I wear it by itself all over the lid.
Chopper is a mid-toned pinky brown with glitter (again, not a fan of the fallout).
Tease, another matte, appears to be a gorgeous taupey brown color in the pan. However, its color payoff is quite disappointing.
Snakebite is a lovely dark brown shimmer with gold flecs throughout.
Suspect is a light gold color with cooler undertones.
Pistol (my personal favorite) is a beautiful taupe-y brown shimmer.
Verve is a frosted light gray color.
YDK is a medium-toned brown with silver undertones.
Busted is a gorgeous deep brown shimmer.
Blackout is a matte black, and is personally the darkest matte black I have tried. This is great for smokey looks or to use as liner.
From left to right: Virgin, Sin, Naked, Sidecar, Buck, Half Baked, Smog, Darkhorse, Toasted, Hustle, Creep, Gunmetal.
From left to right: Foxy, Half Baked, Bootycall, Chopper, Tease, Snakebite, Suspect, Pistol, Verve, YDK, Busted, Blackout.
So, how big of a hole are these palettes going to put in my wallet?
As far as price goes, both palettes are an incredible value. Both are priced at $50, which may seem like a hefty price to spend on eyeshadow. However if you break it down, each eyeshadow only costs a little over $4, which is $13 less than their single shadows. And again, these are all full-sized Urban Decay shadows. If you were to buy each one individually (which many of the shades are exclusive to the palettes so you can't, but hypothetically speaking), you would wind up spending a whopping $204! AND, both of the palettes come with a double-sided brush (I purchased my original Naked palette when it came with the eyeliner duo)! The original Naked palette also comes with a mini Primer Potion (not pictured) and the Naked 2 comes with a mini Lip Junkie Lipgloss in the color Naked (not pictured). So basically, you are saving a bunch of money with these palettes.
So, do I need both?
Do you NEED both of these palettes? Well, for makeup-loving addicts like me, yes. Both are definite necessities. However, if you are not a crazy obsessed makeup junkie that should seek help, I do not think both palettes are necessary.
The colors in both palettes are fairly similar, though they definitely have their differences. The original Naked palette contains shades that are much warmer. If you're darker-complected or tend to have more yellow undertones in your skin, I'd say go for the original. The Naked 2 palette contains much cooler shades, which is why I personally prefer it for my fair skin. I think the Naked 2 is better for lighter complexions or people with cooler undertones to their skin.
Another big difference between the palettes is the variety of finishes that each contains. This is another thing to keep in mind when deciding between the two. The original Naked contains only two matte shades while the Naked 2 contains three, including an incredibly universal matte black.
So, what's the verdict?
Overall, both palettes are an incredible product and an amazing value. The quality of the shadows is everything you would expect from Urban Decay: smooth, pigmented, velvety soft, blendable, and long-wearing. For me personally, I prefer the Naked 2 simply because the cooler shades are better for my complexion. I also like that it includes a matte black shade, which is great for traveling because you can use it as eyeliner. I do not think both palettes are necessary for everyone, but it really just depends on what you're looking for. If you're trying to figure out whether you should buy either of them? Well, for heaven's sake YES!!!
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