Arts Council of Wales | Frequently Asked Questions about Collectorplan
Frequently Asked Questions about Collectorplan

Frequently Asked Questions about Collectorplan

You can also download the information below: Frequently Asked Questions about Collectorplan

  • Click on a question below to see the answer:

    • Collectorplan enables private individuals to borrow money (interest-free) to assist with the purchasing of works of art from galleries in Wales which are members of the Collectorplan scheme.
    • Yes – the loan can go towards the payment of a piece of art that costs more than £5,000 provided that you are able to cover the balance in cash or with a credit/debit card. You cannot apply for multiple loans to cover the cost of a single piece of work.
    • Yes – there is no limit to the number of times that you can use the scheme. But you cannot exceed your personal loan limit of £5,000.

    • An application for credit may be turned down by Arts Council of Wales for a number of reasons. If this happens you will be contacted with an explanation for their decision.
    • Yes – the buyer must pay a minimum 10% deposit, direct to the gallery, on all loans.
    • Your first payment will normally be debited from your account around 4 weeks after the date on which you signed the agreement. You will receive a letter from Arts Council of Wales confirming the date.

    • Yes – but you may only choose between the 7th or the 21st of the month. You can switch from your original choice by contacting Arts Council of Wales on 029 2044 1390 or by sending an email to finance@artscouncilofwales.org.uk
    • No – There are no early redemption charges for Collectorplan loans. You can arrange to pay off the loan at any time by contacting the Arts Council of Wales on 029 2044 1390 or by sending an email to finance@artscouncilofwales.org.uk
    • Collectorplan is run by the Arts Council of Wales - http://www.artscouncilofwales.org.uk/

    • The aims of the scheme are:

      • to enable more people to buy art
      • to support galleries in Wales by encouraging increased sales of work
      • to support contemporary artists by encouraging increased sales of work
    • Collectorplan is open to all UK residents over the age of 18, subject to status.
    • Creative United operates a similar initiative called Own Art.

      Further details can be found here - www.ownart.org.uk/what-is-own-art/

    • The cost of the loan is subsidised by the scheme funders, Arts Council of Wales, making it affordable for our member galleries to operate as well as guaranteeing the 0% interest rate for buyers.

    • No – Collectorplan is only available through galleries that have been approved by Arts Council of Wales.

    • You can buy original works of contemporary art and craft in any media including painting, sculpture, photography, limited edition prints (maximum print run 150), textiles, jewellery, furniture, glass, ceramics, multimedia works – in fact any original work by a living artist.

    • The minimum loan amount is £50 (after deposit). This can either be for the purchase of a single item, or for a group of items where the combined value is £55 or more.

Registered Charity Number 1034245