Forget the stock market and skip the gold, because according to a recent study buying a Hermès Birkin handbag could be your best bet for long-term investment.

The study by Baghunter – an online marketplace for buying and selling luxury handbags – revealed that the Birkin bag far outperformed both the S&P 500 and the price of gold in the last 35 years.

Comparing the three types of investment it found that the stock market had a return of a nominal average of 11.66 percent, with a real return average of 8.65 percent.

Gold had an average annual return of 1.9 percent and a real return average of -1.5 percent, while the value of Birkin bags increased at a faster rate than either of them.

Rising by 14.2 percent over the same period, the Hermès bag never fluctuated downwards - instead it steadily and consistently increased reaching a peak surge in 2001 where it escalated by a huge 25 per cent.

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The Birkin has only ever experienced various levels of positive fluctuation and saw a record-breaking year back in 2015 when a single pink crocodile-skin version sold for an astounding $223,000 (£177,173).

So what is it that makes them so valuable?

Well the Hermès Birkin bag is a status symbol for the elite and super-rich with its principal appeal lying in its exclusivity.

The waiting list for a new one can often be as long as six years, with a bag costing anywhere between $12,000 (£9,534) to more than $200,000 (£251,820) and, because of their allure, they regularly sell on the secondary market through online stores such as Vestaire Collective.