Commercial photographer Charlie Lim has a collection of most unusual assets.
They are seed carvings - intricate works of art carved onto seeds ranging in size from 1cm long to palm-size. The seeds include olive, walnut and peach.
He started collecting them when he was in his 20s and has amassed more than 2,000 seeds, a collection he almost sold 15 years ago for $1 million.
"I foresaw that the collection would grow, in terms of money, and it's supposed to be my retirement fund," says Mr Lim, 64, a passionate art lover who used to be a commercial art director.
He says there are always two things on his mind: art and money.
"My grandma would always remind me about money. She would call and say, "Don't worry about having no girlfriend, worry about having no money."
Over the years, he has diversified both his collection - to include miniatures and antiques - and business.
"Thirty-five years ago, I asked myself: If I have money, what do I want to buy: property or Chinese antiques? I knew that if I had money I could still buy property, but not antiques. And my guess was right, certain antiques are no more found in the marketplace."
Besides commercial photography, Mr Lim is known for light paintings and is working on being a wall design specialist - that is, designing walls for houses, office or even entire buildings.
He also makes customised goods such as bags or leather goods, with images clients provide.
He says: "In life, I don't believe in depending on one source or business or resource. Being a wall design specialist is passive income. It's something I researched about for seven years, and started three years ago."
Mr Lim has plans to sell off his entire seed carving collection eventually and fund his dream to travel around the world while working.
"My dream is to paint portraits around the world and take orders for the wall specialist service. It's time to sell, I'm not young any more."
Part of his collection is on display at Science Centre Singapore, as part of the Exploring Nature's Design exhibition under the Singapore Science Festival, from now until Aug 24.
Q:Are you a spender or saver?
In the past 10 years, I've been a saver. The past 30 years before that, I was a spender. I spent to invest.
I worked for other people for eight years before I became a boss at the age of 29, doing photography and design.
Q: How much do you charge to your credit cards every month?
About $1,500 per month to my credit cards, and my total monthly expenses are about $2,500. I spend on myself, travel and developing Clip (Charlie Lim International Photography).
Q: What financial planning have you done for yourself?
Besides my seed carving collection, I believe in other collections as well.
I started getting interested in Chinese antiques and collectibles such as carved seeds, coral red porcelain cutlery, seal carvings and antique teapots in the 1970s.
Today, I have more than 2,000 pieces of seed carvings in my collection representing 500 different designs. It's one of my biggest assets.
I used to pump in $6,000 to $8,000 a month to buy collectibles in the 1980s, that's why I'm so poor now (laughs).
As a commercial photographer, I have spent more than $500,000 on computers and cameras for my business.
I just sold two items for $50,000 in total - an embroidered Chinese kua (ceremonial wedding dress) and a stone carving.
A Chinese artisan offered me $1,000 for a walnut seed which I bought at $25 but I didn't sell it.
I have also invested in an endowment plan since I was in my late 20s as well as in a condominium by the sea in Malacca.
Q: Moneywise, what were your growing-up years like?
Even though my father died at age 37 when I was 3½ years old, I never suffered in life. He was a fish merchant. Fortunately, my family continued to be supported by my maternal grandmother and my father's business partner and I didn't suffer as a child.
When I was young, I was given just enough money for one lunch and my trips to school (Anglo-Chinese School) and back.
I got merit bursaries from the Government for my education, and I studied advertising art at what is now known as Temasek Polytechnic. My grandmother told me that if by 65, you're not rich, you won't be rich any more.
I think I'm asset-rich. I learnt the most from her. She was also a businesswoman, who took over the ice business from my grandfather. Q:How did you get interested in investing?
I purchased my first seed carving in 1971 for $2.50. The seed was carved in the shape of a boat with an anchor in front, and four miniature windows on each side that can be opened and closed. This design is not being widely produced due to the lack of skilled craftsmen.
The seed that I bought for $2.50 is now worth approximately $2,500.
Art is my passion, I always topped the school in art. When I first saw that carved olive seed, it reminded me of my grandma.
From an artistic sense, I asked myself: "For $2.50, how am I going to get this in future? Who would be able to carve this for me?"
My interest in investing in antiques and collectibles was piqued when I found out that a little flower vase that my mother bought was worth $70. I asked her how much she bought it for, when I was in my early 20s, and she told me she'd bought it 25 years ago for 70 cents.
There was some influence from my mum too. I started looking at little things like wine bottles.
Based on how much the value grew in 25 years, I began to collect things which are "cheap now".
Q: What property do you own?
A condominium in Malacca by the sea. I thought Johor Baru was too close at one time, Penang was too far and I just wanted to drive to the condo. If Singapore is too expensive, I can just go there and retire.
I also bought it because they were talking about linking Malacca to Sumatra to build a bridge, but that didn't work out. That would have been awesome.
Q: What's the most extravagant thing you have bought?
A digital camera back for a medium format camera which cost $35,000. The whole system cost $50,000, including a computer to run the camera. This was 10 years ago, and I'm not using it any more.
Q:What's your retirement plan?
Sell some of my things and semi-retire. I've already subconsciously started to semi-retire. Life is short. I better work at the same time and slowly retire and enjoy myself.
I don't believe in working very hard (for a long time) and plan to go for a holiday 10 years later. You could die within these 10 years without seeing the world. I've visited more than 35 countries.
I almost sold my seed carving collection for $1 million 15 years ago. But it is a blessing in disguise that I didn't.
The potential buyer is still talking to me, he wants to create a private museum on seed carvings, so he is asking for a quote on a number of pieces.
I intend to break my collection into three parts and sell them. The first lot contains every design that I have, the second contains reminding designs and the third lot has loose pieces.
Q: Home is now....
A three-room HDB flat in the West.
Q: I drive....
A Mazda 5. I lost my Toyota Harrier in Johor Baru seven years ago. The robbers took my car away in 45 minutes, when it was in the carpark.
Luckily, my cameras were not in the car.
Worst and best bets
Q: What is your worst investment to date?
My Mercedes. It cost $145,000 in 1999 (15 years) ago, and I sold it for $72,000 seven years later. In the same year I bought it, a five-room flat in Redhill also cost $145,000.
When I sold the Mercedes seven years later, the flat was worth $550,000.
The best part was that, before I took the car, I was offered $30,000 cash for it from the salesman for it, but I did not take the cash.
I bought it at $105,000, when I signed the contract. When I got it in hand, the car was being sold at $145,000. At that time, $30,000 could have been a deposit for a condo.
That's why I say timing is very important in business and in life.
I don't really regret it. I thought, I'd make my money back, and I wanted to enjoy it.
Q: What is your best investment to date?
My seed-carving collection. I didn't expect it to grow so far (in value), seeing how my mother's vase has grown in value from 70 cents to $70.
I want to share that seed carving is very important to the Chinese culture and some people even wear the seeds for health reasons.
This article was first published on July 14, 2014.
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