Monthly Payments

Looking to spread the payment of your next artwork over 10 - 20 months? The Auction Collective are proud to be the first auction house to join the Own Art membership scheme - a scheme that let's you buy now and pay later. 

An Arts Council funded initiative, Own Art allows art buyers to borrow between £100 and £25,000 to buy artwork and pay it back in up to 20-month instalments, completely interest-free.

This monthly payment option can be used to buy any artwork at The Auction Collective: in Auctions, Private Selling exhibitions, Print Collections and even commissions through our Art Advisory service.

For more information contact [email protected].

Who can apply?

Own Art is available to all permanent UK residents over the age of 18, as long as either you or your partner are:

  • Employed or self-employed and work at least 16 hours a week
  • A retired person in receipt of a pension
  • A person in receipt of disability allowance

How do I use Own Art to buy an artwork at auction?

Your Own Art Loan will be applied for at the end of the auction when the final price of the artwork has been reached. At this point, The Auction Collective will take you through the application process (10 mins).

Please note: Even though the scheme has enabled more than 50,000 customers to get access to the art they love through £40 million of contemporary art sales, there is no guarantee your application will be successful in which case your payment will have to be made in full. 


How do I use Own Art to 'Buy Now' in a Print Collection or through a Private Selling Exhibition?

Find the artwork you wish to buy and contact [email protected]. Your artwork will be reserved to you and The Auction Collective team will take you through the Own Art application process (10 mins).

You can even include the cost of framing and delivery as part of your Own Art loan.


Can I include more than one artwork in the loan?

Yes, a loan can be taken for the payment of multiple artworks in a single transaction up to £25,000. It can also be used to contribute to higher value transactions, provided you can cover any remaining balance over £25,000 in cash or with a credit or debit card.


Will I need to pay a deposit?

No deposit is necessary when applying for an Own Art loan.


What information will I need to provide?

Your name, date of birth, address, a copy of your photo ID and your bank details.


How are payments made?

On completion of the application, you will e-sign a direct debit mandate to process the monthly payments from your bank account.


When will I need to make my first payment?

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 an email confirming this date.

The date of your monthly repayments can be adjusted in consultation with the credit provider.


What if my application is refused?

An application for credit may be turned down by the Own Art credit provider Hitachi Capital Consumer Finance for a number of reasons. If this happens you will receive an email explaining their decision.


When do the artists get paid?

The artists get paid in full as soon as the loan has been started and the artworks are in your possession.


For more information contact [email protected].

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