It may seem like misguided decadence to splash cash on a designer handbag but it could prove to be a better investment than the stock market or gold.
While the FTSE 100 index gained 12 per cent last year, Hermès Birkin handbags increased in value by 13 per cent, outperforming other collectable items such as fine wine, art, watches, jewellery or whisky.
Birkin bags are so popular at auctions that an index has been created by Art Market Research to track their growing value. Over the past ten years the FTSE and gold, often regarded as a safe haven for wealth, both increased by 39 per cent while Birkin bags grew in value by 108 per cent, according to the Wealth Report published by KnightCarol Lewis, deputy property editor of The Times and The Sunday Times
The investment that outstrips gold: a Hermès Birkin handbag