WHAT PEOPLE ASK...

Frequently asked questions from my fans

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What is my collecting strategy?

I collect classic Ferraris from the 50s to 70s. I collect the flagship super/hyper cars series. I collect all the modern models as well as the modern limited editions.

What is my favorite Ferrari?

My collection is far from being the biggest but it's focused and are really all my favorites. But I do have a special love for the Ferrari Flagship Super/Hyper Cars. Amongst them, it used to be my 1985 288GTO because it was the super car that I grew up seeing. Now it's the LaFerrari not because it's the new production flagship car but because it has characteristics of all 4 previous models-Enzo, F50, F40, and 288GTO.

Why do I only collect Ferrari?

The passion of collecting exotics cars started 3 years ago. I used to collect many different brands. I had a Ferrari Enzo, Porsche Carrera GT and a Lamborghini Diablo 6.0. It was when I bought my first classic Ferrari, a 1965 275 GTS, that I realized the rich and fascinating racing history and the appreciating value of Ferraris. It is then that I sold all the other brands and began to collect Ferrari only. I tell myself, I rather be important to one brand then not important to many.

What do I do for a living?

I am the Chairman & CEO of Hing Wa Lee Group which includes Retail companies, Real Estate companies, and Investment companies. Among all the companies in the group, Hing Wa Lee Jewelers is the most public and recognizable company we own and just turned 50 years old in 2015.

How does one achieve financial success?

I have mentioned on many occasions that if you follow my family's "3 Golden Rules", I believe you will have the financial success to provide a good living for yourself and your family. To try to achieve extra ordinary wealth, I believe it is really not up to you but God. If He plans for your life that kind of responsibility for wealth, then you will have it.

What are my family's 3 golden rules?

It is to
1) to work hard
2) to work with perseverance
3) to work with integrity

What does it mean to work hard?

When I first took over my family business, I did everything. I was the sales manager, purchasing, marketing, and accounting staff. I was the first person to open and last person to close. I worked 7 days a week for the first 3 years. This is the work ethic to have. One must make sacrifices in order to achieve your goals. My father always said, we don't have a choice to be born smart but we have the choice to work harder then that smart person and have the advantage over him

What does it mean to work with perseverance?

When I went after the various luxury brand name to be the authorized dealers, many at first said no. But I kept going back year after year and eventually they said yes. Let's say you quit asking on the 3rd year thinking you will never get a yes, it could happen on the 4th year. There was a brand I went after for 23 years and finally they said yes. If I quit going after them any of the years before I would not have seen the day they said yes. So when do you give up. Never.

What does it mean to work with Integrity?

Your name is the most important asset you have. When you take short cuts or trick someone just for a temporary financial gain, you have that on your name. It will get around. No one will trust you. What you miss out on then are the new business opportunities that would have come your way. My name is worth millions of dollars because everyone knows that I would not cheat them and that everything I do is with integrity and success. Then people will throw money at you.

How did I get into the business?

My father began a gemstone carving factory in Hong Kong in 1965. He distributed gemstone carving to galleries throughout the United States in the 70s. In the 80s, he changed gears to produced fine jewelry and distributed to JEWELER'S throughout the United States. When I joined the business in 1990, I changed the business model from wholesale to retail and brought in watches as a product segment. I did it the right way by applying to be the authorized dealer for each of the brands we carried. From no brands to 40 brands now, the fine timepiece segment of our business is very strong and we are consider one of the top grossing sales and image retailers in the country. I have increase sales 60 times since I took over and made the business value increase 100 times.

Will I be a mentor?
I would like to say "yes" to everyone but unfortunately I am at a stage in life where I am still very busy with business and family.
 

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