Mum matched his $1.5k when he started out at 16 as vintage goods dealer

Passions Watch founder invests in his watches, classic cars and other collectibles

- Timothy Goh

Mr Jonathan Tee was only 16 when he started a small antiques business using $1,500 of savings and a matching sum from his mother.

He set up a makeshift store in a corner of her furniture shop, sourced goods at the now-defunct Sungei Road flea market, and manned the store late into the night.

“IT was one of the youngest antiques dealers then, and most of the other dealers were old enough to be my father or grandfather... They took a liking to me and taught me lessons that stayed with me for life, from business ethics to integrity,” said Mr Tee. “I met all sorts of people in those early years, from tycoons to ex-convicts, academics and traders, and each offered a wealth of knowledge.”

In 1999, he took the business online and sold his first watch — a pre-loved Franck Muller Casablanca — to a buyer in New York who later returned to make more purchases.

The business eventually grew into Passions Watch, which today is a full-fledged secondhand watch dealer.

“I do have a soft spot for vintage watches, especially pocket watches, though they are too fragile for my active lifestyle,” Mr Tee said.

“These days, you'll usually find me wearing either a vintage Patek Philippe or a limited-edition metal Casio G-Shock.”

Mr Tee, 51, is married with two children.

Q Do you invest in anything?

A I used to invest in property but have divested most of it.

These days, my long-term investments are my own watches, classic cars, motorcycles and other collectibles.

Having been in this trade for more than three decades and weathering crises from the Asian financial crisis to Sars, the dot.com bust and Covid-19, I know my products inside out and rarely lose money on my collection, except when I have to cut losses to reinvest.

I prefer to collect items that I can use rather than just display.