Just to alert the general public – Art Futures Group (AFG), founding member Jonathan Macey, set up his own auctioneer business, and took over AFG a couple of years back. None of the dozens and dozens of members of the Facebook action group (AFGFraud), received any notice about this, nor gave Macey’s permission for their art still in storage, to be moved to a different facility.
Requests for documentation to show Macey’s responsibility for AFG clients was not responded to, and Macey’s completely rejected claims that they still had responsibility to AFG clients. Only if clients bought more art (still at inflated prices) would one then become a client of Macey’s and they would then take care of you!
Oh right… given the number of complaints received through the FB group, not one of Macey’s claims, promises or guarantees have fructuated.
There is even a report that one of Macey’s employees offered a FB member to buy back a painting at purchase price (bought from AFG) in exchange for the list of names of the FB group!
Such underhanded and dastardly business practices, yet no effort by many of us has resulted in these scammers being brought to justice, let alone seeing the touted guarantee of up to 20%/annum capital gain (how can anyone in the art world ever give such guarantees) and at least selling the art. Still no auction house will take them.
As the saying goes, if it’s too good to be true, then it probably isn’t.