ED Magedson – Founder
Saatchi Jewelery27001 La Paz, Mission Viejo, CA 92631 Mission Viejo, California USA
Saatchi Jewelery Farid SaatchiSaatchi BarterDoBarter.STCTVNET.comSaatchi PrintingSaatchi LoansSaatchi Real Estat Caveat Emptor - Get it in writing! Get a receipt! Trust your gut - it's too good to be true. Mission Viejo California
I met Saatchi through Bill Verett the owner of Sunbelt Business Brokers OC/LA county a year ago. Saatchi has a real estates sales persons license with Bill.
Saatchi wanted me to help him sell his business for sale listings, join his barter group for $500 promissing me $10,000 in barter credit. He explained to me that I could get anything I want by barter if I joined - diamonds, gold, printing, signs, advertisting, watches, gas, Apple computers and more - much more - from auto repair to carpet cleaning to restauant meals and so on. He encouraged me to barter my 1986 Dale Chihuly Macchia autographed by the artist and with full documentation. I wrote a bill of sale that he signed as received for the value of $20,000. He would set me up with an immediate barter credit for $20,000 for it and $10,000 for joining STCTVNET.COM. Unfortunately I did it. One of his diamond suppliers, Rafael Raz (European Collission Clinic, Inc., on Santa Monica Blvd in Los Angeles was there at the time and decided he wanted it and I watched while it put it in his car.
The deal was, and is that for everything I sold I'd pay 10% to STCTVNET and everything I bought I'd pay 10% to STCTVNET plus pay $30 per month. It's in writing.
He asked what I wanted and I told him about $5,000 in Apple Computer Store gift cards and received ths same "no prolbem". I told him I needed a couple of crowns replaced so he sent me to Anthony Rich in Newport Beach who agreed to do the work for $2,600 in barter. Then I needed new brakes on my car so he sent me to Bryces' Auto Repair in Anaheim. For printing he sent me to Business Cards Tomorrow (BCT - Laguna Hills) and for a sign to Wall Words in Tustin.
Altogether I got a little less than $3,000 in barter and paid him $300 in cash. BCT made me pay Saatchi's unpaid bill of $257.00 to pick up my order for $26.00 since he hadn't paid them in awhile. I paid him dues through May 31, 2013. Bryce of Bryce's auto called me after I paid him in STCTVNET script to tell me that Saatchi wasn't a barter member of his group. Saatchi explained to me that his wife's business (a front for Saatchi) had an account throught Tami's TV and gave me a number for Bryce to call to validate the trade.
Last week I still hadn't received any instructions on how to barter on line from Saatchi so I stopped by the store in Mission Viejo and he introduced me to Issy - his computer guy to set my account up. He gave me two more businesses to deal with directly, Active Auto Body in Anahiem owned by his wife's uncle to get about $1,000 in work done, and Continential Limo for car service. He told me that I could have meals at Peppinos Restaurants in OC just let him know when I wanted to go and there was no limit. He promised me $1,000 in gasoline gift cards, $1,000 in Macy's gift cards and told me to go online to Lyoness and find other things I wanted and once again promised me "not to worry" I will have Issy set you up an account so you can do this without me. That was Tuesday. Wednesday he asked me to send him a statement of account (huh?) and I emailed it to him. Thursday he told me the statement was okay and he did owe me roughly $27,000 in barter. I asked him if I could pay him the $2,000 I owed him for the Chihuly sale at 10% of whatever I purchased until paid off rather than come up with a lump sum but it would take a couple of days since he had a negative balance with Lyoness and asked that I be patient for a week or so.
Friday he told me I needed to pay $2,600 (I have the emails, texts and recorded messages) in order to get $2,000 in gas and Macy's cards and if I just came by that day and gave him $120 to pay my $30 a month dues he'd make it good. I told him to order the cards and I'd pay him dues through the end of 2012 in the amount of $180 and pay him $400 (20% of the purchase of the gas cards). He said okay. Then he said no. I asked him to make a reservation for two at Peppino's for Sunday night via text - he didn't respond and today he offered to get me my Chihuly back to which I responded that I had his signature on a bill of sale as recevied 5 months ago and I wasn't a shop and wouldn't take it back.
Now he doesn't want to talk to me, won't provide me any value for the bartered art.
Saatchi sent me an email saying "everything we say is true" - there is no "we" - just him.
I've heard a dozen stories from others who joined Saatchi Barter (STCTVNET) and who have said they got ripped off by HIM (not THEM). I'm encouraging them to come forward and report their situation.
I want to be able to go through his website and Lyoness' site and be able to barter without his interference. I want full credit for the $27,000 and change he owes me. I will pay him the past dues (4 months) and 20% of everything I buy from here forward applying 10% of the purcahse and 10% for the sale of the Chichuly Macchia. (Yes, I have a gallery who had agreed to take it and valued it at $18,000).
CAVEAT EMPTOR - don't trust this guy. Get it in writing. Take a wittness (not family or a boy/girl friend). If you have had a problem then report him.
Next stop, Better Business Bureau, Consumer Protection Agency, and the press. Don't tread on me.
This report was posted on Ripoff Report on 10/14/2013 02:35 PM and is a permanent record located here: http://www.ripoffreport.com/reports/saatchi-jewelery/mission-viejo-california-92631/saatchi-jewelery-farid-saatchisaatchi-barterdobarterstctvnetcomsaatchi-printingsaatchi-1091915. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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