France plans loans for art buyers

France plans loans for art buyers

I quote from the BBC news article at the above link….


The government says interest-free loans will be offered to “modest” buyers to purchase works and it is expanding incentives for companies to buy.

A survey out this week showed that, for the first time, France had dropped from 3rd to 4th place behind China in sales of art works.

“There is a real need to act,” explained French Culture Minister Christine Albanel.

Under the scheme, members of the public will be granted interest-free loans worth up to 10,000 euros ($15,000, £8,000).

Mrs Albanel said the idea was “to bring private individuals closer to this act of buying a work of art” adding that the loan “was the price, for example, of a flat-screen television”.

She said the idea was also to help young artists.