Update March 11: Well, surprise, surprise! The Tesla Cybertruck couldn’t find any takers at Mecum Auctions’ Glendale event in Arizona. A representative from the auction house told us that “the high bid of $200,000 didn’t meet the reserve price required by the consignor”. Shocking, isn’t it?
Yet another, virtually new, Tesla Cybertruck has hit the market and will be sold by Mecum Auctions this weekend. A host of Cybertrucks have traded hands in recent weeks for upwards of $250,000 but there is no guarantee this example will fetch as much.
This model is one of the desirable Foundation Series versions and has been driven just 13 miles (21 km) since new. While there’s certainly a chance it will sell for upwards of $200,000, the president and founder of Give Me The VIN, recently indicated the market has already corrected after a pair of Cybertrucks fetched $195,500 and $189,000 in recent days.
Those who secured an allocation for the Cybertruck Foundation Series model had to cough up around $120,000. That’s a significant amount of money for most but given how much demand there is for the first Tesla pickup, it’s hardly a surprise that owners are quickly flipping their vehicles for a profit.
Read: Porsche Dealer That Bought Flipped Cybertruck For $244,000, Now Flipping It For $290,000
Photos Mecum Auctions
Curiously, individuals are flipping their Cybertrucks despite Tesla implementing a clause in its sales contract prohibiting the practice. The automaker says that any Cybertruck owner who wants to part ways with their truck must first request a buyback of their truck if they want to sell it. They are only allowed to sell it on the open market if Tesla refuses to buy the truck.
Those who breach the contract have been threatened with a $50,000 penalty or “the value received as consideration for the sale of transfer, whichever is greater,” meaning Tesla could come after every penny of profit a flipper makes. While Tesla hasn’t pursued Cybertruck flippers thus far, it’s conceivable that they might take action in the future. Conversely, they may choose not to enforce the policy altogether.
This specific Cybertruck remains entirely stock, and since Tesla doesn’t provide any paint options for it, it appears identical to every other standard Cybertruck on the road.
You can head over to Mecum’s website to view the auction listing and find more details about this Cybertruck that’s hitting the auction block.
