Art on the Installment Plan


David Pike, pictured with his favourite piece by Paul Denham, enjoys buying art despite living in a caravan. (Photo: North News & Pictures)

I just learned about Own Art from an article in the Telegraph.

Here’s an excerpt that explains the gist of the program:

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.”

What an extraordinary marriage of practical and inspired. The article goes on to interview a number of people who took advantage of this offer, asking them how owning art has transformed their lives.

A few highlights from those interviews:

“It may sound a bit weird but getting into art has made me appreciate the beauty in things more. When I’m walking the dogs, for instance, I’ve realised that I now notice things like the colour of autumn leaves. It really makes you open your eyes.”

–Regan Hurle, 39, a worker at a car components factory

***
“We like having real art on the walls, not reproductions, but that doesn’t mean we’ve spent a huge amount of money. Our art is worth far more to us than its monetary value. We don’t put the art in a vault until the accountant comes round to value it or anything. We buy things with meaning. I really like the connection you get with the artists through their work.

“Andrew [our son] would tell his art teacher how we had a Hockney and a Hirst but they just thought he was making it up. It’s a common misconception that art is expensive and exclusive; that’s why the Own Art scheme is so good.”

–Mike and Susie Hughes. Mike, 54, is a health service manager and Susie, 46, is a retired dental nurse.

***
“I’m the son of an immigrant mill-worker, so I didn’t grow up in a house surrounded by art. I like the way art has shaped my house now, though. Our home feels warm, and so much of that is due to the art we have. The personality of the house has been dictated by what hangs on the wall. I love how it stimulates emotions and discussions. By bringing up my 14-year-old daughter Georgia in a house filled with paintings, I am hoping that she won’t feel intimidated by art.”

–Tassadat Hussein, 37, a human rights barrister

***
“I don’t really go on holidays, partly because it’s hard to find someone to take care of all the animals, but also because I’d rather buy a piece of art. Buying art is still a luxury although the scheme does make it easier. I like buying work from local artists since I feel more of a connection with them.”

–David Pike, 53, pig farmer

If there is a program like this in the United States, I’m not aware of it. Would this be feasible in this country? Not sure, but worth looking into further.

7 Replies to “Art on the Installment Plan”

  1. My local library has a collection of art that you can check out, much like a book. It’s a brilliant idea and an amazing library district (of which I have worked many years for).

    This is a great idea, too, making art accessible for more people, which is good.

  2. There is a gallery here in Grand Rapids that allows purchasers to set up a 12 month installment plan. Mercury Head is its name. Unfortunately they don’t have a website.

    Checking out art from some sort of ‘library’ would be great to– nice to have constant rotation in your home.

  3. What a fabulous idea Own Art is!

  4. What a great idea. And the local library check-out program. Wow.

    I bought my first fine art (a suite of prints) when I was 18. The patron who underwrote them sold them to me at cost, and that year was the first I filed independently my income taxes. I got a $500 refund, exactly the cost of the suite.

  5. I love this . I have done installment agreements with 5 or 6 art-buyers directly out of the studio with my “If it speaks to you, then speak to me” policy. With three of them it has led to a long relationship, and they have continued to buy. When it comes to installment agreements, one perk for the artist is that if you are going through a dry spell, either creatively, financially or otherwise, getting that check in the mail (however small!) is a reminder: Yes, I am an artist. Yes, someone values what I do.

  6. What great comments. It makes me want to stay with this idea a bit longer, to see if there isn’t some variation on it that could be put into motion. I keep thinking about how inspiring this is.

  7. OwnArt is a brilliant idea. I have for years bought art from artists on installment when we couldn’t afford the up-front expence. I also sell my own work that way, when considering others may be operating from similar fiscal conservativeness – and why not?
    When our son was in his early twenties (he is now 40) he saw a study at a local well-regarded gallery and wanted it so badly. I suggested he propose to the gallery monthly payments – like a lay-away plan, after making a good percentage of down-payment. He was thrilled when they accepted his offer, hung th work in his place. G

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