Friday, 4 April 2008

France plans loans for art buyers

Identical Twins by Diane Arbus ©

France is taking measures to boost its flagging art market.
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", she said the idea was also to help young artists.

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