Art and other forms of alternative investment have soared in popularity in recent years.
Dismal savings rates have prompted many investors to consider diversifying their portfolios by adding more esoteric ways of generating returns, such as contemporary art, wine and antiques.
Several schemes exist to make these investments more affordable, so they are accessible to those on relatively modest incomes.
Nearly £24m worth of contemporary art and crafts has been bought over the past nine years through Own Art, a government-backed initiative that offers interest-free loans to fund purchases.
Assets such as art and antiques are liable to capital gains tax (CGT) when sold only if valued at more than £6,000.
Note of caution: These assets are unregulated, illiquid and can be expensive, with potentially volatile performance, and they may produce no income.
Contemporary Art
Own Art enables buyers to spread the cost of their purchases over 10 months interest-free. The cost of the loan is subsidised by the scheme’s funders — Arts Council England, Creative Scotland and the Arts Council of Northern Ireland.
The minimum loan is £100 and the maximum is £2,000. If the item costs more, an Own Art loan can be used as a part-payment. To find participating galleries go to ownart.org.uk
The Affordable Art Fair takes place in Battersea Park from October 24 to 27 affordableartfair.co.uk
Wishing you a creative and successful week!
The Agile Non-Exec
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