In recent years, a notable trend has emerged among Kenya's affluent class: a growing fascination with classic cars. Rhys Mirindo's purchase of a 1974 Austin Mini during the Covid-19 pandemic exemplifies this shift. Initially bought for Sh150,000, the car's restoration costs ballooned to Sh1.4 million, yet it could now fetch between Sh2 million and Sh2.5 million.
Mirindo, however, is not in a hurry to sell. His experience mirrors that of many wealthy Kenyans who are increasingly drawn to classic cars, luxury watches, art, and jewelry as investments. For them, these collectibles represent more than mere financial assets.
Ownership of such items offers a sense of identity and connection to history, as well as the enjoyment that comes from possessing unique pieces of art and craftsmanship. This trend highlights a shift in how the super-rich view their investments, focusing on personal value alongside potential resale profitability.