Tesla’s attempts to prevent Cybertruck buyers from flipping their trucks means that there aren’t many used examples on sale but those that are, are selling for a lot. One example of the truck, bought at auction for $244,000 late last month, is already being listed for $289,999.
The truck in question caught a lot of attention online after its auction ended, and already appears to have made two people a significant amount of money. The Cybertruck was sold on the auction site Manheim, by auto wholesalers givemethevin.com, which in turn got it from a private seller, but it wasn’t easy.
John Clay Wolfe, the CEO of givemethevin.com, explained how his firm had inquired with many private owners in its search for a Cybertruck, but all were scared of selling, per Autonews. That’s because of Tesla’s threat to fine owners who sell their trucks within the first 12 months of ownership up to $50,000. However, the company eventually managed to convince an owner to sell for $210,000.
More: Tesla Cybertruck’s $50,000 No-Resale Clause Returns After Flippers Sell Reservations
Although that price meant that the owner would likely make money, even if Tesla attempted to enforce its fine, Wolfe said it meant that he didn’t expect to make much money on it. However, the company made a tidy $34,000 by selling it.
Now, Porsche South Orlando, which won the auction, wants to cash in and is asking $289,999, or $46,000 more than what they bought it for. Even though that’s well over two times its MSRP, the dealership may get what it’s asking for, as this Cybertruck Foundation Series model has fewer than 100 miles (160 km) on the odometer, and ready-to-drive examples of the truck are few and far between.
However, it’s not the only example on the market. There are five available on cargurus.com at the time of writing and, although the Porsche dealer’s example is one of the more expensive, it’s not the most expensive one on offer. A private seller on the website is asking for $300,000, while another, offered by the Florida dealer, Driving Emotions, asks for $259,900.
Tesla’s threat of a $50,000 penalty for reselling the Cybertruck may have actually helped to inflate the price of the trucks.
While that may have some alarming implications, experts say this isn’t abnormal, and probably won’t last that long. Wolfe, the CEO of givemethevin.com, noted that second-hand examples of the GMC Hummer were selling for over $200,000 early on, but have since dropped back down to around $100,000.
