I suggest you try it yourself. One bottle should last multiple uses so you could definitely split the cost, $12, with a friend or keep the rest for next year.
Yi-Chia also used the spray on her adorable burgundy boots. Check out her blog post here.
Note: The instructions suggest one cloth for applying the spray and another to buff but I used only one cloth throughout the entire process (a thin handkerchief). I also did the application in the tub of my second bathroom since I could easily wipe it down afterwards.