My secret is a velvet needle board or Velvaboard (http://www.hancockfabrics.com/shopping/product/detailmain.jsp?itemID=7572&itemType=PRODUCT&RS=1&keyword=velvaboard). It's a pressing cloth that has a nylon nap to it (sort of looks like a soft velcro) for the velvet to fall into. Some can be pricey (especially for the larger professional ones) but it's a very nifty sewing gadget indeed.

You can also use a scrap of velvet as a pressing cloth. I like the needle board much better though - it's a bit more fool proof. :>