By
Margaretta wa Gacheru (posted 26 April 2019)
Paul Onditi
has always had a passion for classic cars, particularly Citrons. Yet he didn’t
know at the outset that vintage cars would have tremendous investment
potential, nor that his passion would eventually lead to his owning a
corral-ful of classic cars.
“It’s a
life-long story,” says the well-known Kenyan artist whose interest in vintage
cars isn’t widely known among his peers in the local art world. Yet he doesn’t
see his love for classics and passion for painting as conflicting passtimes.
Owning a
Citron is what he calls “a childhood dream” even though he didn’t see many classic
vehicles while growing up in Kendu Bay in Nyanza County.
“But Tom
Mboya had a Citron,” he says while seated in one of his latest projects, the Kwa
Wangwana Restaurant and Wine Garden, which is situated in a leafy suburb of
Nairobi. “I never saw him drive it since he died before I was born. But his
wife used to pass by our place in their Citron on her way to Rusinga,” where
the Mboya’s used to live.
There were
several others in his neighborhood who had a Citron, a car whose futuristic
features also appealed to the young Onditi.
“As early as
the 1950s, Citrons had power steering which only Mercedes and Volvos had,” says
the artist-restauranteur who currently owns ten Citrons.
He also owns
one 1998 Mercedes W140, a Saab 900 Turbo and a 1998 Volkswagon Kombi. Thirteen
in all! But his heart will always belong to the Citron (along with his wife
Christine and his offspring).
One other
reason for his devotion to the Citron is its futuristic style of ‘sleeping’
whenever the car is turned off and the back end of the body ‘collapses’, hiding
the rear wheels. Then when the vehicle is started up again, it immediately
‘wakes up’ as if it was coming to attention and the driver was royalty or a dignitary
of some sort.
But Onditi
didn’t start collecting classic cars in his youth. Nor is it a hobby that he
recommends everyone with money should seriously consider taking up.
‘But if
you’re prepared to do the research and keep your eye on the market, collecting
vintage cars can be a good way to invest,” he says, cautioning that it isn’t
wise to just go out and buy old cars.
“You should
only buy a vehicle that won’t depreciate. If you buy a classic, you may have to
wait a few years, but if you’re patient it’s bound to appreciate significantly.”
For example,
he says that Land Rovers will soon be going out of production, which is bound
to mean that after some years they will accrue in value substantially. The
implication being that even if you have an old rusty Land Rover, you’d be wise
not to sell it. And if you see one on the market, it might make sense to snap
it up right away.
Not so with
a Toyota, he remarks, since its value is bound to diminish after five years.
Onditi
admits the vintage car market is a niche market. “It may be small, but you can
be sure the demand is there, so long as you have the [right] commodity,” says
this wise man who hasn’t yet reached the age of 40.
The
challenge is to know which ‘commodities’ are most marketable. And that is where
research comes in. “You have to know the history of your vehicle to know if
it’s a classic or not.”
For
instance, Onditi bought a rusty old Volkswagon Kombi with 21 windows that most
people would consider “scrap metal”. But he knew better. He’d done his research
and paid Sh200,000 for it a few years back.
“Even before
it was restored, I was offered Sh1.2 million for it. And now it’s selling for
Sh3 million online,” he adds.
The very
first classic car that Onditi could afford was the Citron DS 21 that he bought
for Sh150,000. He was still living in Germany at the time, having gone there to
be with his future wife and to attend art school at Hochschule fur Gestaltung
in Offenbach am Main. But he had returned to Kenya for a visit in 2006. That’s
when he took the leap and fulfilled his dream for the first time.
“I had to
buy it in installments. Fortunately, the owner was my friend. I even left the
car with him while I was away,” he recalls. When he was able, he ultimately
invested Sh1 million to restore the car. “But I have already been offered Sh3.5
million for it by someone who wants it badly.”
Onditi
doesn’t buy his cars all at once. Nor does he repair them straight away
although he has one mechanic who works for him full-time and only does body
work, meaning panel beating and painting. He also has a mechanic who fixes
engines and other internal issues, but he only works when he’s called.
“I can
handle minor repairs myself,” he says, although he admits driving his classic
cars, while being one of his greatest delights, can also be difficult.
“Sometimes
the car will break down in the middle of the road, and if it’s a Citron, it
can’t be easily moved,” he says. But leaving the car where it ‘died’ can elicit
rude comments from other drivers who have no patience for a man with ‘dirty
hands’ driving an ‘old car’.
“Most of
them don’t know the value of these classic cars,” says Onditi who has scathing
remarks for the so-called ‘tenderpreneurs who can’t even change a tire but
measure a man’s worth by the kind of trendy new car he’s got.
One may well
ask how Onditi the artist can afford to own 13 classic cars, three of which are
in working order and which he can often be seen driving around town.
First of
all, he says he never buys a car without first researching its history and
considering its investment value. “I don’t just buy a car with the idea of keeping
it forever,” he says.
One reason
for that is he has to repay the bank loans he gets in order to buy most of his
cars. That’s to say, taking up the sport of buying and selling vintage cars
does not necessarily mean the buyer has to be a rich man (or woman), although a
retiree looking for a fascinating hobby might enjoy the challenge.
Onditi says he had to establish a trusting
relationship with his bank. What’s more, he’s never defaulted on one of his
bank loans. But he has had to sell some of his vintage cars, all of which went
for more than twice the price of what he bought the vehicles for. Among the
cars he’s sold were his bronze Citron Prestige, his Opal Cadet and one VW
Kombi.
The day we
met him at his Kwa Wangwana Restaurant, it had recently rained, so Onditi
showed up driving a 1996 Land Cruiser which has 4-wheel drive. When asked why
he wasn’t driving one of his classics that day, especially when he knew we
would be talking about them, his answer was simple and clear.
“I’m a
practical man,” meaning it’s not the weather for driving a classic car.