It looks like you finally have an excuse to splurge on the luxury handbag you’ve always wanted.
According to a new study by Baghunter, Hermes Birkin bags are a better investment than gold or stocks. Meaning a simple fashion accessory is now more profitable to hold onto than most precious metals. It’s also probably why Emily Gilmore had such a purse boner when Logan bought one for Rory on Gilmore Girls.
Baghunter found that the status symbols had increased in value by an average of 14.2 per cent each year. As for gold and stocks (measured through S&P 500, which looks at overall return characteristics from the stock market as a whole), they only provided average returns of 1.9 per cent and 8.65 per cent respectively.
The study actually goes as far as to say the bags have never decreased in value over the years, making them “historically safer” to purchase. And the authors argue that trend will only continue as we head into the future, as demand continues to dramatically outweigh supply.
“All signs point to that desire remaining as strong throughout 2016 as it has been since the bag was released in 1985, with media outlets fawning over celebrities such as Kim Kardashian and Victoria Beckham who regularly sport their Birkin bags in paparazzi pictures,” the study’s authors wrote. “Beyond the media attention, the exclusivity of the bag along with the difficulty in purchasing one brand new from Hermes means 2016 begins with demand far outweighing supply on the secondary and investment market for Birkin bags.”
So now comes the big question: how can you get your hands on one? A rich boyfriend, perhaps? We’re kidding, of course, but here’s Rory getting a pink Birkin:
Jokes aside, we won’t beat around the bush here: it’s difficult to get one. The bags range in price from $10,000 to more than $100,000 (one sold at auction last year for $223,000), which should end most of our dreams of ever owning one. The bags also cannot be purchased through Hermes online, you must find them at a store. The only problem there is, there are only four approved stores in Canada to sell them. Four. In the entire country. So unless you live in Vancouver, Toronto, Calgary or Montreal, you might be out of luck.
Even if you somehow manage to jump all of those hurdles and still buy one, you will be put on a wait list before it actually becomes yours. These artfully-crafted bags take a long time to make, after all. And while you inch your way to the number one spot, which can take many months, there are well-believed rumours that people find ways to weasel their way to the top.
See, now you’re probably starting to see why these accessories are such a sure thing.
There is one way to get around all that, however. Third party websites, like Baghunter, offer the bags online. But since a study by Baghunter essentially found that buying products available on Baghunter is good investment, we made sure to source some outside opinions. Fortune certainly agrees though, as it reported last summer that Birkin bags were a solid investment. The Richest reported the same in 2014. So it looks like Baghunter’s study might be legit after all. And frankly, part of the thrill of owning a Birkin is the chase, so why would you buy online when you could get your name on the list.
The takeaway? If you can get your hands on one of these sought-after bags, fork out whatever is necessary to make it yours. Your bank account will thank you down the road.