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Collecting individual taste in art is subject to constant examination and assessment. Paintings are bought and sold as the collector's knowledge and taste evolves, the perfect collection is the Utopia, rarely achieved, but striving for it is the hook and the pleasure.

Deciding what to collect starts from the purchase of the first picture. The second generally reflects, in some respect, the spirit of the first, either in subject medium, period or colour etc. Subsequent purchases generate the need to constantly reassess the collection.

Clearly the decision on what to collect is of paramount importance. The first work should be chosen for a number of differing-reasons. Quality of brushwork, the effect it has on the buyer, the visual harmony it creates in its chosen location. Ideally all of them.

Only the seriously rich can afford the Old Masters, the Impressionists and the well known 20th century European and American artists. Even the minor but competent 19th century artists are realising hitherto unthought of prices.

The area, which is wide open for the new collector, is contemporary art. The proliferation of artists leaving art colleges has resulted in more artists plying their craft than at any other time in history. True, the percentage of art graduates that do not last as professionals is also at an all time high. This, however, is the very reason why the opportunity to build a collection of contemporary art produced by today's artists has never been better. They have survived the "drop out" process.

A well-painted work that evokes all the emotions and criteria already mentioned will always be desirable. They can be acquired for comparatively little money and could well be worth much more in the future.

The well-publicised purchases by Lord Saatchi of works by lesser known artists illustrates the phenomenal growth in value of contemporary works in a very short period.

It is worth noting that two years ago Natwest Bank sold their complete collection of traditional works to invest in contemporary art.

However it is important to remember, when building your collection, that you have to like the pictures and only then do you derive real pleasure.