I collect pictures of horses because the pictures give me a great deal of enjoyment.

For me the main reason for collecting is the pure pleasure of looking at the pictures when they are hanging on the walls of my home.

It's the same when I'm buying pictures. I buy what I like. Certainly I am careful to work out the value of anything I buy before i part with my cash. But I wouldn't pay for anything that I didn't like just because I thought it might make a good investment.

You might accuse me of letting my heart rule my head, but I don't look at it that way. I am building a collection in a certain style and the style-setter has to be me and my taste in pictures.

I would go so far as to say that I don't see how one can build a meaningful collection without a real enthusiasm for what one is engaged in. And that enthusiasm can only come from a real love of the subject and a clear idea of what one likes.

There have been many occasions when I've looked at a painting and thought that it was technically very good, but found myself unable to feel anything about the painting. Hanging such a painting on my wall would add nothing to my home. And that, for me is the acid test.

Would I like to look at it day after day and would I be pleased and proud to show it off to my friends and visitors? If the answer's "yes" I am prepared to buy. If "no", nothing on earth will persuade me to take out my purse.

I have spoken to some very big collectors with very expensive art collections and they all reassure me that they have "favorites". These may be pictures or artists whose work they particularly like.

So, my advice is to follow your own likes and instincts, but always check that you are getting good value and don't let your heart lead you to pay over the odds.