Slide 1

The Arts in Wales On a visit to the Plas Glyn y Weddw Gallery, in Llanbedrog near Pwllheli, Carys has fallen in love with a painting. It costs 1600. She wonders if she can afford it. Anne Aspinall: Evening, Porthmadog

Slide 2

Eleri Mills: Argoed 1 (Arcadia 1) The Arts Council of Wales offer a Collectorplan scheme for people interested in buying art from a selection of galleries around Wales. This means that buyers can pay a minimum 10% deposit, and then pay off the balance with a monthly direct debit. The details are on your information sheet. The Arts in Wales

Slide 3

Buying Art in Wales: using the Collectorplan scheme Use your information sheet to answer this question. If Carys only had the minimum deposit in her savings, how much would she have to pay each month to keep within the terms of the scheme? How much would she pay in total? Set out your working clearly, showing what her deposit should be and what her monthly payments are. Show also how you check your working.

Slide 4

Collectorplan Cynllun Casglu Interest-free* credit loans start at 50 and run to a maximum of 2,000. You only need to pay a 10% deposit up front. The Collectorplan loan is repaid in monthly instalments by direct debit. The maximum period for repaying a Collectorplan loan is fifteen months for loans from 1,001 to 2,000 and ten months for loans from 50 to 1,000. The buyer may choose to repay the loan over any number of months, providing they adhere to the above maximum periods for repayment. The minimum monthly repayment is 10. *APR 0% representative

Slide 5

Collectorplan Cynllun Casglu Galleries that participate in Collectorplan http://www.artswales.org.uk/arts-in-wales/enterprise-and- regeneration/collectorplan/gallery-listing http://www.artswales.org.uk/arts-in-wales/enterprise-and- regeneration/collectorplan/gallery-listing The work of other Welsh artists can be viewed at: http://www.orielgeryfenai.co.uk/index.html http://www.workshopwalesgallery.co.uk/artists/ http://ruthincraftcentre.org.uk/retail-gallery/ http://www.visitwales.com/things-to-do/attractions/museums-galleries/art- galleries http://www.visitwales.com/things-to-do/attractions/museums-galleries/art- galleries http://www.artwales.com/exhibition-ot-en.php?locationID=136 http://www.albanygallery.com/index.php?page=6

Slide 6

Which artwork can she afford? Carys looks at other artwork in several galleries. Some examples are on the next slide. Which of these can she afford under the Collectorplan scheme if she has 160 in savings now, and can pay back 80 per month?

Slide 7

Late September, Tenby Harbour Ann Lewis Linocut 250 Twilight Muriel Delahaye Oil on canvas 1200 Red Sails, White Sails Ishbel McWhirter Pastel 795 White House, Red Hills Karina Rosanne Barrett Acrylic on Canvas 2014 975

Slide 8

Should Rhys pay by credit card? Carys friend Rhys decides that he will buy Red Sails White Sails using his credit card. He says it is quicker and more convenient. The painting costs 795. He wants to pay the money back in 6 months, and estimates he should pay 140 per month. This means each month there will be an outstanding balance left on the credit card until he clears it. He will have to pay 1.8% interest on the outstanding balance each month. a. If he pays 140 per month, will he clear the debt in six months? b. How much extra will he pay in interest?

Slide 9

Should Rhys pay by credit card? If you make the first payment off your credit card bill within a set time usually 25 days from the date of your statement, then the interest is only charged on the remaining balance. In this case you would have paid 140 leaving a balance of 655 on which interest begins to be paid. Red Sails, White Sails Ishbel McWhirter Pastel 795