insight
工程技术，地产投资，信仰家园，时尚生活
正文
Me & My Money Series (Sunday Times)
Interesting guy, and I like what he is doing to preserve the Peranakan culture; but spending so much on antiques is rather daunting. Other than that, he appears quite grounded.
The Straits Times
http://www.straitstimes.com
Published on Mar 03, 2013
ME & MY MONEY
Collecting antiques 'is like saving money'
The value is there, says businessman who runs a private Peranakan museum from his home
By Joyce Teo
Mr Alvin Yapp would have saved a lot more money if he wasn't a collector of Peranakan antiques. He started his collection when he was just 17, and does not plan to stop.
"It's a disease and I can't stop," says the 43-year-old bachelor, who runs The Intan, a private Peranakan museum out of his quaint terraced house in Joo Chiat. "To me, collecting antiques is like saving money. The intrinsic value is still there. It's not like spending on a trip. It's money in a different form."
He has a vision to promote Peranakan culture.
Mr Yapp, a former Singapore Airlines station manager who now runs BusAds, his family's outdoor advertising production business, says he has always been quite responsible with his money. He has never had to pay late fees for his credit cards and would never let his mortgage lapse.
"Spend when you need to and respect money, no matter how large or small the amount is. Just don't waste it," he says.
"Always remember the less fortunate, and there will always be someone less fortunate than you. Just like there will always be someone who is more fortunate."
Q: Are you a spender or saver?
I consider myself a saver, even though I spend on my antiques collection. I always spend carefully and within my means, and will save a portion of my income.
I may sometimes spend on things that I am passionate about, like gardening, charity and music. I currently play the keyboard, piano, violin and saxophone.
As for charity, I tend not to think so much before I spend. I have done several fund-raising projects here and overseas.
I would say I am quite thrifty. I travel frequently but it's usually by budget airlines. And I stay in guesthouses as I don't need the luxury of a high-end hotel. Actually, I get uncomfortable in those places. I'd rather save the money and spend it on my plants or on a cab when I am travelling so I can save time. Also, I mostly eat at hawker centres.
Q: How much do you charge to your credit cards every month?
Embarrassingly, less than $1,000, unless there is out-of-the-ordinary expenditure such as air tickets.
Q: What financial planning have you done for yourself?
I think I am a conservative investor. I still believe in keeping cash and good fixed-income investments. Five years ago, I took out $150,000 to invest in fixed-income products.
Currently, around 30 per cent of my financial investments are in fixed income, which pay me a regular income. I have a bit of equities and the rest are cash.
I am taking more of an interest in investing and am now considering Reits (real estate investment trusts) and currencies. It's because my dad gave me some money two years ago. I felt I needed to decide what to do with it. That spurred me to meet private bankers.
If I don't do anything with it, it would be like wasting it and I should be responsible.
I would not recommend that people buy antiques for investments, but for enjoyment and its historical value. Antiques are probably the worst investments. If you think art is bad, antiques are worse. It's so non-liquid, personal and whimsical. The risks are so high.
The most I've paid for a single item is $15,000. It was a sideboard I bought four years ago. It should be worth at least $30,000 today.
There are also some pieces I bought for almost nothing but are worth a lot today. An accessory that came free with a $3,000 betel leaf set had a value when someone wanted to buy it for the price of the whole set. But there are things I paid a lot for that are worth nothing today - problem pieces where there's been some adulteration.
I've stopped selling my pieces after The Intan became a member of the Museum Roundtable. For me, I am happy just to be able to share my Peranakan pieces with visitors. It's something money cannot buy.
I am happy I could donate a tokwi - an altar cloth - under my parents' name to the Peranakan Museum. And this year, some of The Intan's pieces are going to a show at the East-West Centre in Hawaii.
Q: Moneywise, what were your growing-up years like?
Dad was an odd-job worker before he started BusAds in 1983 when I was 13 and my mum was a telephone operator with Singapore Telecoms. I have a younger sister.
When my dad started BusAds, my mum asked if I could lend him my savings. I happily offered all the $500 I had in my POSB savings account. Before that, we were very poor. I remember everything in our three-bedroom Housing Board flat in Toa Payoh was second-hand.
When I was in secondary school, my parents had plans to buy a car but they knew how much I love music and decided to spend the money on an organ for me.
Q: How did you get interested in investing?
I knew I had to buy a house so I bought one in 1998. Investing is also to generate passive income.
Q: What property do you own?
A 1,350 sq ft freehold condo in East Coast Road that I am renting out. I bought it for under $1 million in 1998. I also own a terraced house in Joo Chiat that I bought in 2007 for $700,000.
Q: What's the most extravagant thing you have bought?
None. I hardly waste money on myself, unless you consider my violin an extravagant purchase. I paid $5,000 for it.
Q: What's your retirement plan?
None. I don't intend to retire. I am a workaholic and overachiever.
Q: Home is now...
The house in Joo Chiat.
Q: I drive...
A 2004 Silver Honda Civic. My sister passed it to me four years ago when she left for Shanghai to be with her husband. Before that, I was driving my 18-year-old black Honda Civic.
[email protected]
----------------------------
WORST AND BEST BETS
Q: What is your worst investment to date?
This has to be a Middle East equity fund that I invested in about five years ago. It hasn’t recovered. I put in $50,000 and I sold it at a 40 per cent loss recently.
Q: What is your best investment to date?
My Joo Chiat Terrace home, which currently doubles as my home museum.
The value has risen. But I consider it my best investment mainly because what I’ve done with it has gone beyond my wildest wish.
The Intan is now recognised as a home museum and I’ve hosted many people, including Will Smith’s mother and aunt.
We are also partnering St Regis Hotel for its aficionado programme. And I now hold collectors’ sales, art events, teas and dinners, charity concerts, conservation programmes, and plays at the house.
The Straits Times
http://www.straitstimes.com
Published on Mar 03, 2013
ME & MY MONEY
Collecting antiques 'is like saving money'
The value is there, says businessman who runs a private Peranakan museum from his home
By Joyce Teo
Mr Alvin Yapp would have saved a lot more money if he wasn't a collector of Peranakan antiques. He started his collection when he was just 17, and does not plan to stop.
"It's a disease and I can't stop," says the 43-year-old bachelor, who runs The Intan, a private Peranakan museum out of his quaint terraced house in Joo Chiat. "To me, collecting antiques is like saving money. The intrinsic value is still there. It's not like spending on a trip. It's money in a different form."
He has a vision to promote Peranakan culture.
Mr Yapp, a former Singapore Airlines station manager who now runs BusAds, his family's outdoor advertising production business, says he has always been quite responsible with his money. He has never had to pay late fees for his credit cards and would never let his mortgage lapse.
"Spend when you need to and respect money, no matter how large or small the amount is. Just don't waste it," he says.
"Always remember the less fortunate, and there will always be someone less fortunate than you. Just like there will always be someone who is more fortunate."
Q: Are you a spender or saver?
I consider myself a saver, even though I spend on my antiques collection. I always spend carefully and within my means, and will save a portion of my income.
I may sometimes spend on things that I am passionate about, like gardening, charity and music. I currently play the keyboard, piano, violin and saxophone.
As for charity, I tend not to think so much before I spend. I have done several fund-raising projects here and overseas.
I would say I am quite thrifty. I travel frequently but it's usually by budget airlines. And I stay in guesthouses as I don't need the luxury of a high-end hotel. Actually, I get uncomfortable in those places. I'd rather save the money and spend it on my plants or on a cab when I am travelling so I can save time. Also, I mostly eat at hawker centres.
Q: How much do you charge to your credit cards every month?
Embarrassingly, less than $1,000, unless there is out-of-the-ordinary expenditure such as air tickets.
Q: What financial planning have you done for yourself?
I think I am a conservative investor. I still believe in keeping cash and good fixed-income investments. Five years ago, I took out $150,000 to invest in fixed-income products.
Currently, around 30 per cent of my financial investments are in fixed income, which pay me a regular income. I have a bit of equities and the rest are cash.
I am taking more of an interest in investing and am now considering Reits (real estate investment trusts) and currencies. It's because my dad gave me some money two years ago. I felt I needed to decide what to do with it. That spurred me to meet private bankers.
If I don't do anything with it, it would be like wasting it and I should be responsible.
I would not recommend that people buy antiques for investments, but for enjoyment and its historical value. Antiques are probably the worst investments. If you think art is bad, antiques are worse. It's so non-liquid, personal and whimsical. The risks are so high.
The most I've paid for a single item is $15,000. It was a sideboard I bought four years ago. It should be worth at least $30,000 today.
There are also some pieces I bought for almost nothing but are worth a lot today. An accessory that came free with a $3,000 betel leaf set had a value when someone wanted to buy it for the price of the whole set. But there are things I paid a lot for that are worth nothing today - problem pieces where there's been some adulteration.
I've stopped selling my pieces after The Intan became a member of the Museum Roundtable. For me, I am happy just to be able to share my Peranakan pieces with visitors. It's something money cannot buy.
I am happy I could donate a tokwi - an altar cloth - under my parents' name to the Peranakan Museum. And this year, some of The Intan's pieces are going to a show at the East-West Centre in Hawaii.
Q: Moneywise, what were your growing-up years like?
Dad was an odd-job worker before he started BusAds in 1983 when I was 13 and my mum was a telephone operator with Singapore Telecoms. I have a younger sister.
When my dad started BusAds, my mum asked if I could lend him my savings. I happily offered all the $500 I had in my POSB savings account. Before that, we were very poor. I remember everything in our three-bedroom Housing Board flat in Toa Payoh was second-hand.
When I was in secondary school, my parents had plans to buy a car but they knew how much I love music and decided to spend the money on an organ for me.
Q: How did you get interested in investing?
I knew I had to buy a house so I bought one in 1998. Investing is also to generate passive income.
Q: What property do you own?
A 1,350 sq ft freehold condo in East Coast Road that I am renting out. I bought it for under $1 million in 1998. I also own a terraced house in Joo Chiat that I bought in 2007 for $700,000.
Q: What's the most extravagant thing you have bought?
None. I hardly waste money on myself, unless you consider my violin an extravagant purchase. I paid $5,000 for it.
Q: What's your retirement plan?
None. I don't intend to retire. I am a workaholic and overachiever.
Q: Home is now...
The house in Joo Chiat.
Q: I drive...
A 2004 Silver Honda Civic. My sister passed it to me four years ago when she left for Shanghai to be with her husband. Before that, I was driving my 18-year-old black Honda Civic.
[email protected]
----------------------------
WORST AND BEST BETS
Q: What is your worst investment to date?
This has to be a Middle East equity fund that I invested in about five years ago. It hasn’t recovered. I put in $50,000 and I sold it at a 40 per cent loss recently.
Q: What is your best investment to date?
My Joo Chiat Terrace home, which currently doubles as my home museum.
The value has risen. But I consider it my best investment mainly because what I’ve done with it has gone beyond my wildest wish.
The Intan is now recognised as a home museum and I’ve hosted many people, including Will Smith’s mother and aunt.
We are also partnering St Regis Hotel for its aficionado programme. And I now hold collectors’ sales, art events, teas and dinners, charity concerts, conservation programmes, and plays at the house.
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