BY DESIGN : FAHION / RUNWAY TO REALITY : Stroke of Midnight : Ringing in the new year right ay require a bit of foresight, but not necessarily a bucket of money. Here’s to the slightly used tuxedo, a fabulous champagne glass, an unorthodox shirt and thou!

The tuxedo takes its name from the Tuxedo Club, an exclusive establishment that opened in 1886 in Tuxedo Park, N.Y. But dressing a woman in a tuxedo was the inspiration of the French, namely, Yves Saint Laurent.

In 1966, Saint Laurent introduced what in France is called le smoking as an evening option for women. And for pants-loving, ruffle-hating American women, the tuxedo has become a wardrobe staple, a perfect choice for New Year’s Eve.

As everyone knows, a top-of-the-line tuxedo is quel expensive. Buying an Armani or YSL tux is a passport to the land of “investment dressing,” where the price is amortized over the next 5 to 50 years. So we tracked down a couple of alternatives for ringing in the new year.

The best bargain in town has to be the close-out merchandise upstairs at the Tuxedo Center in Hollywood. Close-outs, old rental stock and accessories cost a fraction of the original cost. (Some merchandise may require small repairs--such as buttons replaced or seams restitched.)

Shirts, some of which are still in packages, start at $10. Tie and cummerbund sets are $4. Pants are $10 to $45, depending on the brand name and condition. Jackets range from $50 to $95.

The store also offers some unusual and inexpensive vintage tuxedos, as well as tail coats (some with matching pants) for $60 to $85.