Unfortunately, some of the young talants are becoming fashionable. And anything that's fashionable can become unfashionable. So one has to watch that. And it's very easy today because there are so many events - art fairs, gallery openings, etcetera. In fact, that's another thing that concerns me, the quantity of gallery openings. In my office in London, I get back after a week, and I have 30 invitations. It's too much.

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 wish there were fewer art dealers. I wish there were fewer auctions. I wish there were just two auctions a year. It's just too much. And at the end of the day, if you're a dealer and a professional, fine, that's your business, that's all you do. But as an individual, if you're not a dealer and it's not your business, you need time for these things. You need time to study what's happening. You need time to understand the market. You need time to go to a museum. You need time to see a show. You can't go to one every day. It's becoming a trend.

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

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.

Don't try to buy art as an investment. Buy something you really love because you're going to have to look at it again tomorrow. And an investment can go up or down. Buy something you really adore, you really like, and you want to live with. And if you decide some years later you don't want to live with it anymore, sell it. Get out.

I think a lot of people are involved in art because of the fashion of art and the conversation. It gives them a certain sophistication, something to speak about. But art is, if it's conceptual, really about understanding the concept. And if it's beautiful, it's about seeing the beauty. It's gone much further than that now. There's too much commercialism attached to art. If the market cracks one day big-time, you'll frighten so many people away who will never come back. Because they don't really feel for art. People who buy art should want it because they love it, they want to enjoy it.