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Buying art in interest-free instalments
A mini revolution is afoot in the once rarefied world of art. There is a new kind of collector stalking the corridors of galleries. No, not the city boys with their still-substantial bonuses, but the ordinary man. The factory worker. The lawyer. The pig farmer.


David Pike, pictured with his favourite piece by Paul Denham, enjoys buying art despite living in a caravan Photo: NORTH NEWS & PICTURES
Set up in 2004 by the Arts Council, Own Art enables people to take home a piece of contemporary art straight way but then pay for it in 10 monthly interest-free instalments, borrowing anything up to £2,000. So far the scheme has made over 14,500 loans to purchase art valued in excess of £11.6 million. “It’s a simple idea that works for artists, buyers and galleries,” says Mary-Alice Stack, development manager for Own Art. “From farmers to policemen, students to pensioners, we’re making it possible for everyone to buy original art for their homes.”