Why even order a Cybertruck if you can't immediately flip it for twice what you paid?
Even before deliveries of the Tesla $TSLA Cybertruck began, the electric automaker made it clear that it would be a long time before it was produced in anything other than extremely limited quantities. That meant that if you were one of the few who had pulled yourself up by your bootstraps hard enough, you stood to make quite a bit of money auctioning yours off to the highest bidder. The latest failed attempt to do so, this time on Cars & Bids, has us worried, though.
Bidding on the 2024 Tesla Cybertruck Foundation Series definitely started off strong. By the end of the first day, it had already crossed the $100,000 threshold, and if bidding had continued at that rate for the rest of the week, we would have been looking at a final sale price of more than $700,000, netting the seller a significant, well-deserved profit.
Unfortunately for the flipper, bidding on their 70-mile Cybertruck quickly slowed down, with day two only seeing the highest bid rise to $133,000. Day three saw the price rise to $150,000, almost assuring a final selling price north of $200,000. And yet, for some reason, those big bids never appeared, and the auction ended at $158,000, presumably well short of what we can only assume was a very fair reserve price.
With an original price of $101,985 after destination, that $158,000 bid would have meant a mere $56,000 profit for the seller, so we’re not surprised they “weren’t quite able to close the gap.” After all, taking less than twice what you paid for a truck you barely even drove would simply be insulting. It’s a Tesla Cybertruck Foundation Series, not a Ford $F F-150 Lightning. Maybe it’s time to accept that people just don’t want to pay $200,000 for a Tesla Cybertruck anymore.
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