Visitors are being offered “Own Art” loans subsidised by the Arts Council.
Buyers can borrow up to £2,000 and pay for their work in monthly instalments.
Mary-Alice Stack, development manager of Own Art said the loans entice first-time buyers. “It removes the financial obstacle for people who normally would not buy art. It allows people to get an art bargain despite the credit crunch,” she said.
Fair director Jonathan Burton said: “People are being much more cautious this year. There are discounts available. Previously, you could have got a 10 per cent discount if you asked. Now, you see 20 per cent discounts.” The London Art Fair is open until Sunday. Via (The Evening Standard)
London Art Fair Buyers take out Loans…
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