What’s the sign that someone has more money than sense? Is it a swanky espresso machine perched on their kitchen counter, or perhaps a boujie electric bike that’s stored in their shed? Personally, I think it’s paying more than double for a Tesla Cybertruck that’s been flipped at auction.
That’s exactly what happened this week, when Cox Automotive sold a Foundation Series Cybertruck on its auction platform Manheim. The truck in question was spec’d out with all-wheel drive, all-terrain tires, Tesla’s Full-Self Driving capabilities and aesthetic details like laser-etched badges. Swanky.
The price of all this if you go down to your local Tesla dealership starts from $120,000 but can rise up to $135,000. However, CarScoops reports that one has now been sold by auctioneer Manheim for $244,000. According to the site:
A Tesla Cybertruck recently popped up for sale over on the Cox Automotive’s wholesale site, Manheim. It sold for more than double its MSRP, fetching over $120,000 above retail price, reportedly to Porsche of South Orlando. The question now becomes what happens to that excess profit and if this sale will influence other Cybertruck owners.
The truck in question went over the auction block today, February 28th, and the winning bid came in at $244,000 from a Porsche dealership. The truck itself was one of the Foundation Series trims with all-wheel drive and a base price of about $120,000. Selling for beyond two times that amount says a lot about how much at least a few people wanted to pick up this pickup.
While the Cybertruck sale at Manheim isn’t the first Tesla truck to go up for auction, it is the first to do so without the blessing of Tesla. Last year, the company sold one of its first trucks through a sale hosted by the Petersen Automotive Museum, but then placed strict rules on the re-selling of its Cybertruck.
The rules placed on early adopters stipulate that if you no longer want your angular truck, you must inform Tesla and give the company the opportunity to buy the vehicle back. If the seller doesn’t do this, CarScoops reports that they could be liable for a $50,000 charge from Tesla or, even worse, the company could come knocking to ask for the value difference between the truck’s sale and retail price.
This means the seller of this particular Foundation Series Cybertruck could be on the hook for more than $100,000 in penalties from Tesla.