I've been the proud owner of the Naked Palette since January. I use it every single day and that alone makes it worth the $50. Normally each individual Urban Decay eyeshadow is $17 each. In this palette you receive twelve eyeshadows. So, if you purchased each one separately you'd be spending $204! And that's without the lovely brush it comes with and the travel size Primer Potion. It's quite a steal!
I don't feel like any of the three photos I took do the palette justice at all but at least you can get an idea of what the colors look like. I used both "Virgin" and "Naked" together to create a base. For the outer part of the eye I used "Smog" with "Half Baked" on top. Lastly, I used "Sin" as my highlighter for the brow bone and the inner corners of my eyes. You can't really see all the details in the shot of my eye but I promise you it's a very glowy, golden look! There are endless possibilities with this palette and I hope to share more variations with you in the future!
For more information on the first and second Naked Palettes and how they compare, please read this post by Kandee Johnson.
Do you own either of these palettes? If not, do you think you might invest in one of them sometime? I'd highly recommened checking them out in person!