One of the great things about collecting contemporary art is that you mix with contemporary people.

Collecting contemporary art I started with some of the younger artists. Although, having a son who's an artist, I was hesitant-I think he was a little anxious when I bought another young man's work. But it might have encouraged him in the long run.

I went to an auction in the late '70s and bought a small Renoir. People said, "Why did you buy a Renoir that size?" I said, "I can put it in the safe with my diamonds." And that was a true story. I bought it to put it in the safe.

I'm attracted to the work of younger artists, and it's affordable compared to mature art, so you can take a chance much easier on a younger artist. I can't say that I've found an artist who I think is going to be the next Bacon or Warhol. You shouldn't have to do that really. You go forward, and you find something new.

Your eye becomes more mature. What you don't see the first time, you keep looking, and eventually you'll see it. And when you are confident with what your eye sees, you know you've got to have it.

I was always a little bit of a collector and a hoarder. And whenever I got involved in anything, whatever it was - even when I was a kid and I collected cigarette cards - I really got into it and had the most. So when it came to paintings, once I got the bug, I always wanted to buy something. But I really knew nothing about art.

One of the great things about collecting contemporary art is that you mix with contemporary people.