Since our sudden shut down last week, we have (understandably) been bombarded by emails with questions and comments, as well as postings in forums, on our Facebook, etc. First, we want to say thank you for the overwhelming support and positive comments that have been shared. It truly means a lot to our staff members. We’ve always strived to be an organization that sets the bar for our industry, and many of you confirmed that we did a fair job of that and we appreciate you saying so.

We believe that most folks know us as an honest organization manned by honorable individuals, and we want to be able to give you as much information regarding our closure as possible. Most of the questions we are getting are very similar, so we thought we’d do our best to answer them in more of an “FAQ” format.

Why the sudden overnight shut down?

Despite outward appearances, the truth is that behind the scenes we have been struggling ever since the recession hit in 2008 and we have not been profitable. Our parent company was patient with us to a fault but had to finally draw a line and end the drain on their financial resources. In late 2011 we began trying to sell the company or find some investors in order that we might restructure. Those efforts were unsuccessful.

The business math of a long liquidation period didn’t make sense. It came down to just simple math and we needed to stop the drain on financial resources.

What’s happening with all of the inventory?

As of this writing, we aren’t 100% sure. But it will most likely be sold to a network of liquidation distributors. If you think you have the financial wherewithal to take everything in one fell swoop, then you might be able to throw your name into the hat by sending an email to gmbgeneral@gomotorbidsmail.com. How much “financial wherewithal” are we talking about? Well, if you can afford to purchase an actual Ferrari Enzo or original Shelby 427 S/C Cobra right now, and not just diecast versions, then you probably have what it will take.

What about people who consigned with you?

Our consignors will be paid for all items that we were paid for up through April 4th, 2012. All unsold items are being aggregated as we write this, and will be returned to you. Expect a phone call or email with more information this week. I wasn’t able to close out my order on the evening of April 4th or morning of April 5th due to a technical glitch. Can I still get it? We did go back to the 4th and 5th and honor all of those orders that we were aware of. If we missed yours, we sincerely apologize and we must be direct and say that you won't be getting it at this point.

Can I return defective merchandise?

If you have something you need to return, you need to contact us asap at gmbgeneral@gomotorbidsmail.com or via the toll free line of 1-888-588-2722. Exchanges are not possible, but we’ll certainly do everything else in our power to help you out while we can. Time is of the essence, as we are currently only operating on a skeleton staff and don’t exactly know when our last official day will be.

What about my credit card data on file?

Regarding the matter of your encrypted personal information and payment data within our system, all data will be deleted from our servers no later than April 30th 2012. The drives containing the data will be wiped clean using a technical process that ensures that the data is completely removed and is unrecoverable by any technical or mechanical process. Any archives or representations of data that are stored for later retrieval will NOT contain any personal information or payment data.

I received some emails from you guys after April 4th that would lead me to believe you weren’t really closed. What’s the deal? Everything was turned off quickly so possibly there were a few systems that got missed. We can assure you that despite some automatic emails you may have received or the rumor mill, the business is no longer in operation.

Are you guys going to reorganize or reopen?

We are being approached by buyers who are potentially interested in purchasing the website and the business, but it’s too early to say if the company will ever reopen – or if any of the current staff will be involved. It’s unlikely, but never say never, right?

In closing, all of us here at GoMotorBids and Daily Hobby Deal want to thank all of you for the support, encouragement, friendship, and business over the years. It’s been a heck of a ride and we sincerely appreciate everything you’ve done for us.

Feel free to review this same information on our Blog located here: What Happened To GoMotorBids and Daily Hobby Deal?