Need some justification for buying another Chanel bag? Turns out, it's not just a statement accessory to tote around—it's an investment. That's the result of a new study, which found that Chanel handbags have increased in value by more than 70 percent in the past five years. That's a bigger jump than the stock market and the housing market.

The research comes from Baghunter, a website that resells luxury handbags, so naturally it's probably going to be a bit biased. After all, earlier this year, Baghunter also found that a Birkin bag was a less risky investment than gold or the stock market. So don't necessarily take this as solid financial advice, but rather a fun look at how high-end goods gain value over time. (As long as you don't actually use them and wear out the material, of course.)

Baghunter focused the study on the Chanel Medium Classic Flap Bag, which has been around since 1955. When the bag first hit shelves, it went for just $220, and by 1990, it sold for $1,150. Now, in 2016, it costs a whopping $4,900. Overall, it increased in value by 71.92 percent between 2010 and 2015, which outperforms housing prices and the S&P 500. The researchers found similar, if slightly smaller, price increases for the Chanel Reissue 2.55 in sizes 226 and 227 and the Chanel Boy Bag in small and medium.

Some of the price hikes can be attributed to inflation, but that's definitely not the whole story. The study posits that Chanel may have hiked prices to boost profits and keep their brand exclusive. The price didn't always go steadily up; there were some years where prices went sky-high and others where prices stayed the same.

"Like all major luxury brands, we regularly adjust our prices in line with changes to our models, production costs, the price of raw materials and exchange rate fluctuations," Chanel told Racked in 2014.