If you’re looking to invest your money, purchasing a Hermès Birkin bag may be more profitable than either gold or the stock market, says one study.
Conducted by Baghunter, the study found that the Hermès Birkin has increased more than 500 percent in value over the past 35 years when compared to gold and the S&P 500.
While both gold and the S&P 500 are prone to performance fluctuations throughout time, the Hermès Birkin has only skyrocketed in price. With an average annual increase of 14.2 percent, Baghunter calls the coveted bag “the safest and least volatile investment market.”
If you still need more convincing to go out and add a Birkin to your closet, the S&P 500 performed its worst since 2008 while gold traded low throughout 2015. The Birkin bag, however, saw a record-breaking year with its most expensive bag (pink crocodile, if you’re curious) selling at auction for $223,000.
Of course, the Birkin bag can’t provide dividends or earnings growth like the stock market could, heavily relying on its desirability as an ultra-luxury item.
“There is a difference between luxury and ultra-luxury,” Evelyn Fox, the founder of Baghunter, told Luxury Daily. “While the luxury market suffers during worse economic times the ultra-luxury market is impervious to economic factors that can affect other industries such as high-street retail and stock markets.”
With the upward trend of the Birkin bag’s luxury value only set to continue in 2016, the risk may be worth the while. In the wise words of Yves Saint Laurant: fashions fade, style is eternal.