Got savings that are refusing to make money? Art may not be a better investment but now's the time to treat yourself if you can, writes John Hudson

T hey call it the Afford- able Art Fair, the feast for the eyes to be enjoyed at the old passenger shed at Bristol Temple Meads station this weekend – but who can aspire to buying even "affordable" art in these hard times?

The answer is quite a few of us, according to the organisers. "We had a record 22,800 at our London fair in March, and they spent about £3.7 million," they say.

"That's £100,000 up on the figure for October's fair in London last year."

They're not expecting that kind of haul in Bristol this weekend; last year, just over 6,000 passed through the doors. On the other hand, if the current economic climate is pulling in record crowds in London, they see no reason why Bristol should not prosper, too.

"The housing market is static, so lots of people are staying put and brightening up their homes with new decor, including works of art," says marketing manager Ellen Jarlett.

It is also a fact that people with a bit of money to spare are more inclined than they have been for years to take it out of zero-interest savings schemes and splurge it on feelgood fare – and good luck to them, just as long as they don't mistake low-budget art as an "alternative investment".

It might just prove to be, but then again, you might get the Derby winner in the office sweepstake.

Back in 2006, you could have bought work by the Swindon- born urban artist Antony Micallef for £3,000, and today the likes of Jude Law, Angelina Jolie and Christina Aguilera will pay £300,000 for one of his canvases.

On the other hand, you might have bought a painting for £500 which today you couldn't unload for love nor money. But as long as you like it as much today as you did then, that won't matter a jot.

The Affordable Art Fair stemmed from Will Ramsay's Will's Art Warehouse in London. He launched his first fair in London in October 1999 and has been in the capital twice a year ever since then.

The venture first reached the West in 2001, in Bath in the first year, but has been at Temple Meads since 2002.

It's in good company, since the only other annual Affordable Art Fairs are in Amsterdam, Paris, Brussels and New York, with sister events in Sydney, Brisbane and Melbourne.

Back in the early 2000s, the organisers believed Bristol and Bath had the highest concentration of art galleries in England after London; it would be good to think that is still the case.

There will be some 50 galleries from all over the south showing their wares this time, offering paintings, sculpture, photography and prints in the price range of £50 up to £3,000. The average price paid is about £650.

A new venture this year is "Art and All That Jazz", between 1.30 and 4.30pm tomorrow afternoon. It aims not only to attract a wider audience but to emphasise the relaxed, friendly atmosphere of the fairs; there's a complimentary glass of wine when you arrive and music by the Bristol jazz favourites Cass Caswell's All Stars, while children aged five to 12 can enjoy art workshops on a first-come, first- served basis.

That sounds a fun afternoon – but there are plenty of other times to enjoy the fair without all the razzmatazz, if that's what you prefer.

The Affordable Art Fair at the Passenger Shed, Bristol Temple Meads, BS1 6QH, runs until tomorrow, Sunday, May 17.

Opening times today are 11am-6pm 11am-5pm tomorrow.

Tickets on the door are £5, concessions £4. Admission is half-price if you show a train ticket for travel to Temple Meads that day. There is a café serving sandwiches, salads and drinks.

For further information, call 0870 777 2255.