English taking a lead from the Welsh? Surely not! Strange as it may seem to some, Arts Council England’s Own Art scheme is a welcome rip off of an initiative that has been running in Wales for more than twenty years.
The Arts Council of Wales’ Principality Collectorplan is a genuine arts policy success story. And like so many great ideas, it is mind bogglingly simple. Twenty-one years ago some smart eggs over in Cymru realised that there were plenty of people who wanted to own art, but who didn’t necessarily have the readies in their back pocket as they were browsing the gallery. The solution was to offer these potential customers interest-free credit, from £50 to £2000, for the purchase of individual or group works. They would have to put down a deposit of 10% and the loan would normally be approved within 7 to 10 days. The loans are repayable between 10 and 15 months, depending on the size, and the minimum monthly repayment is from only £10.
