- After a competitive bidding war, a 2024 Foundation Series Cybertruck Cyberbeast edition has been sold for $262,500.
- The sale comes shortly after reports emerged that Tesla would take until 2025 to fulfill new orders for the truck.
- Cybertruck prices had begun to drop from their initial highs in recent weeks, falling to the low $150,000s.
Just when we thought that values of secondhand Tesla Cybertruck values were dropping, one has just fetched a staggering $262,500. The auction for the EV concluded this afternoon after 108 bids, making it one of the most expensive examples of the truck ever sold at auction.
The model in question was a Foundation Series Cyberbeast, meaning that it features three motors generating a combined output of 834 hp (622 kW / 845 PS). Equipped with Full Self-Driving (FSD), Smart Summon, Tesla’s 18.5-inch Infinity Display, dual subwoofers, and more, it showcased a plethora of high-tech features. The vehicle was offered through Sotheby’s Motorsport, a joint collaboration between Sotheby’s and Motorsport Network, the company that owns Motor1 and InsideEVs.
Read: Was $158,000 Not Enough? Tesla Cybertruck Fails To Meet Reserve At Auction
Although technically a used vehicle, it only has 50 miles (80 km) on the odometer, making it essentially new. Interestingly, this particular Cybertruck was sold by a dealer operating under the name “ShibaInu,” a playful nod to the breed of dog that inspired the Dogecoin cryptocurrency, which has been frequently endorsed and promoted by Elon Musk in his postings on his social media platform, X.
The high price appears to have been reached thanks to a bidding war between two users who were vying for the truck through the weekend. That’s good news for the seller, who offered the vehicle without reserve.
Interestingly, a collection of recent auctions featuring the Cybertruck have failed to close due to reserves not being met. The final bids on those vehicles were significantly lower than this truck’s, though. One example, on Cars&Bids, had a top offer of $158,000, which was not enough to meet the seller’s reserve price.
That auction, coupled with other sales closing with sub-$200,000 final bids, prompted industry experts to predict that the market for secondhand Cybertrucks had crashed, and that values would continue to decline.
What caused this auction’s bidders to disagree is unclear, but it could be attributed to FOMO (fear of missing out) stemming from Tesla’s website indicating prolonged wait times for Cybertruck deliveries. Orders placed now are estimated to be fulfilled in 2025.
What do you think, though? Is $262,500 an inconceivable amount of money to spend on a Cybertruck with an MSRP of $99,990? Or would you like one so much that you’d be willing to spend that much to have one in your driveway today?
