10 Things Rich People Bought in 2018

10 Things Rich People Bought in 2018

The super rich are a mysterious lot and knowing where exactly they spend their monies is not easy.

A report by Knight Frank has, however, revealed the 10 things that the wealthy people bought in 2018.

1. Rare whisky

According to Luxury Investment Index, top of the objects of desire among this clique of the super wealthy was rare whisky.

The value of rare whisky had reportedly gone up by 40% marking a 582% appreciation over a 10-year period.

A bottle of The Macallan 1926.

For instance, a bottle of The Macallan 1926, hand painted by Michael Dillon sold for a staggering Ksh 151 million.

This turned out to be the most expensive bottle of whisky sold at auction.

2. Rare coins

Coins came second in the list of things that the wealthy purchased.

This category of collectibles registered a 12% appreciation in 2018 and 193% value increase in 10 years.

A 1621 Polish gold 100 ducat coin was the highest seller earning Ksh221 million.

3. Wine

Wine was the third most popular collectible in 2018 and equally registered a rapid price escalation.

The most expensive wine bottle was a 1945 Romanée-Conti that fetched Ksh 56 million.

A wine bottle of 1945 Romanée-Conti.

4. Art

Art came fourth in the list of top objects of desire registering a 9% rise in asset value over a 12-month period.

Take for example a painting by David Hockney titled Portrait of an Artist (Pool with Two Figures).

The large acrylic on canvas pop art painting measuring 2.1 metres by 3.0 metres was completed in May 1972.

It sold for a whooping Ksh9 billion making it the most expensive work by a living artist.

A 1972 painting by David Hockney titled ‘Portrait of an Artist (Pool with Two Figures)’.

5. Watches

The super rich equally preferred the timepieces may to don or to keep.

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Watches registered a 5% hike in value over a period of 12 months.

A 1970 Rolex Daytona “Unicorn” was the most expensive watch sold at auction in 2018.

The watch fetched Ksh594 million.

6. Classic cars

Surprisingly, cars trailed at position six as part of the things the rich spent their monies on.

Over the 12 months that the report covered, cars registered 2% rise in asset value.

A 1962 Ferrari 250 GTO fetched Ksh4.8 billion making it the most expensive car sold at auction in 2018.

A 1962 Ferrari 250 GTO.

7. Furniture

The rich equally preferred to buy furniture, a category that registered a 1% asset value increase.

This interest in furniture saw a 1766 Chippendale commode with ivory inlays sold previously in 1991 for Ksh94 million, a record price for a piece of English furniture was offered again for auction in 2018.

Although the inlays were removed due to new legislation, the furniture an had an upper estimate value of Ksh503 million although it eventually failed to sell.

8. Coloured diamonds

At position 8 was colored diamonds which have registered a 122% appreciation in value over 10 years.

An exceptionally rare Winston Pink Legacy, 19-carat fancy vivid pink diamond sold for Ksh5 billion making it the most expensive pink diamond per carat.

An exceptionally rare 19-carat pink diamond.

9. Stamps

Postage stamps took position 9 among the rich people’s purchase priorities having recorded a 198% value hike over 10 years.

In 2018, the most expensive US stamp sold at auction was a 1918 Jenny Invert 24 cent fetched Ksh161 million.

10. Jewellery

Closing the list of top 10 collectibles in 2018 was jewellery.

Although this category registered a 5% depreciation in value over the last 12 months, it has had a 112% appreciation in the last 10 years.

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The Marie Antoinette pearl pendant sold for Ksh36 billion making it the most expensive piece of pearl jewellery sold at auction.

Marie Antoinette pearl pendant.

The ultra-wealthy aren’t always out there dropping dollar bills left and right, but when they do, you now know where they do.


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