interest-free loans for art buyers

bbc news points out that interest-free loans are being offered to people who want to buy art.

there are 250 participating galleries, the loans can be for up to 2000 quid, and have a 10 month repayment period.

what a fantastic idea for encouraging people to purchase art they would have otherwise walked past because they didn't have the cash on them at the time. as one lady noted, there is a lot of good art available that doesn't cost an arm and a leg. by helping buyers purchase art we are helping artists to make a decent living.

my question is whether or not the collection-agency is as creative in its means for recouping on failed payments.

{November 17, 2004 08:47 AM}