Cybertruck sells for $244,000 at Manheim wholesale auction!

[CyberFishing]

69 miles !!! Should have sold for $420k.

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[REM]

Tesla just typed that clause in... But now they would have to get a Judge to render a judgement in their favor, then enforce it, all based on the laws of the State involved? Bet ownership been papered up and it's changed hands twice already through LLC's... Good luck.

That's my guess as well. The original recipient of the vehicle paid cash and rolled it into an LLC and sold the LLC and therefore bypassing the clause.

Individual seller to seller transactions is what Telsa wanted to prevent in the first place, but the original person who took delivery may find themselves on a blacklist going forward. And I don't think that's worth whatever they made in the deal.

 

[Bamaboy007]

All you have to do is notify Tesla that you are interested in selling they have the first option. They are going to tell you no, and then you will have permission to sell it.

 

[kingq]

The seller might be Tesla itself, so no legal clause involved here, just wanted to show you guys, including me, it's worth 120+K to buy the FS.

 

[M0unt41nm4n]

This may be Tesla... running a VIN check, no sales records were found...it doesn't mean it didn't but... its certainly possible.

 

[REM]

All you have to do is notify Tesla that you are interested in selling they have the first option. They are going to tell you no, and then you will have permission to sell it.

After they sit on your request for 6+ months or delay as long as possible lol

 

[CyberTruckeeTheOne]

what about the NO-SALE clause ??

Not imposable. There is such thing as absolutely ownership of fully paid item with right of disposal and any constraints is considered restraint of commercial activity.

Commercial Law 101, lol.

 

[smggsm]

Not imposable. There is such thing as absolutely ownership of fully paid item with right of disposal and any constraints is considered restraint of commercial activity.

Commercial Law 101, lol.

English please ?

 

[Cyber Man]

This is the true market value, like i said quite awhile ago, even ADDING 20k, current FSCT price still way under the market value.

CT is not another EV or automobile…

I bet Tesla was watching this auction and intentionally let it happen to check the market as well.

You might be right. There is a possibility of price increase if people continue to buy CT at a higher price. This is a nightmare for people like me who are skipping FS because of the price. What if Beast price increases to 110K next year? I’ll be kicking myself for waiting one whole year to save 10K!

 

[HaulingAss]

Not imposable. There is such thing as absolutely ownership of fully paid item with right of disposal and any constraints is considered restraint of commercial activity.

Commercial Law 101, lol.

Can you at least attempt to be coherent, if you are trying to make a point here?

First off, this more properly falls under contract law, not under commercial law. It involves a purchase/sale agreement. Tesla makes it's clear that they are the retailer of their products to end user and they sell the products using a Purchase and Sale Agreement, AKA a contract.- Commercial law recognizes the right of a seller to attach conditions to a sale. Only if the buyer had no choice but to buy the product would those conditions be ruled improper. Contract law recognizes the right of consenting adults to enter into agreements, often they are far more complex than the simple "no re-sale" clause.

To claim that conditions cannot be placed on the sale of an item that extend beyond the date of sale is easy to disprove. So you are making zero sense here. You have to remember that Tesla owns the items they are selling, and can sell them with conditions attached. If this violated basic principles of "commercial law 101", then why do you think so many automakers (including Ford and GM) have "no-resale" clauses on their most special models?

You have been schooled on this before and yet you keep repeating the same nonsense. The "no-resale" clause is 100% legal and enforceable. That said, there are always ways around clauses like this (if the seller is willing to endure a lifetime blacklist by Tesla), but your average Joe isn't equipped to take on those kinds of risks. Thus the clause serves it's intended purpose of stopping every Tom, Dick and Jane from scalping Cybertrucks for some extra cash.

And the $244K is kind of meaningless in terms of "actual market value". Yes, that was the market value of that truck at that point in time. But that price would quickly drop if there 50 or 60 people putting their brand new Cybertrucks in the auction (or on the open market). In other words, the truck is only worth so much because Tesla's "no-resale" clause has been very effective at putting the lid on unrestrained scalping.

Tesla had a lot of forsight and wisdom when they put the "no-resale" clause in the purchase agreement.

 

[smggsm]

Dont forget this was wholesale auction. limited to dealer's sellers with license.
if this was public auction like B.A.T the price will be much higher

 

[HaulingAss]

Dont forget this was wholesale auction. limited to dealer's sellers with license.
if this was public auction like B.A.T the price will be much higher

I imagine it's too soon for it to have been repo'ed by the lender. But courts could have ordered it be liquidated in some kind of partnership dissolution or divorce proceeding.

I wouldn't say with any certainty that the price would have been higher in a public auction, as long as there are multiple qualified parties bidding on it, I think the price discovery would turn out in the same ballpark. Sure, it's possible some rich spoiled trust-funder would lose their cool and bid it up to 500K or a million dollars, who knows. But it's all kind of meaningless because we know the value of a rare item varies greatly with how rare it was. The very high value is a very temporary condition.

And used car dealer licenses are very easy to get. Lots of people have them and follow the auctions.

 

[Jhodgesatmb]

what about the NO-SALE clause ??

I have a new idea. If Tesla knows (for example, with this truck) that the Cybertruck has been flipped, if the new owner asks for service (and we know that the early Cybertrucks are experiencing some growing pains) Tesla could simply refuse to service a flipped truck. That might render it a very expensive paper weight. I'd prefer for Tesla to enforce its rule against flipping, but this kind of solution would make me happy.

 

[Jhodgesatmb]

I imagine it's too soon for it to have been repo'ed by the lender. But courts could have ordered it be liquidated in some kind of partnership dissolution or divorce proceeding.

I wouldn't say with any certainty that the price would have been higher in a public auction, as long as there are multiple qualified parties bidding on it, I think the price discovery would turn out in the same ballpark. Sure, it's possible some rich spoiled trust-funder would lose their cool and bid it up to 500K or a million dollars, who knows. But it's all kind of meaningless because we know the value of a rare item varies greatly with how rare it was. The very high value is a very temporary condition.

And used car dealer licenses are very easy to get. Lots of people have them and follow the auctions.

Maybe Dan O'Dowd will buy it Hey Dan, there is no FSD on the Cybertruck yet!

 

[agordon117]

I have a new idea. If Tesla knows (for example, with this truck) that the Cybertruck has been flipped, if the new owner asks for service (and we know that the early Cybertrucks are experiencing some growing pains) Tesla could simply refuse to service a flipped truck. That might render it a very expensive paper weight. I'd prefer for Tesla to enforce its rule against flipping, but this kind of solution would make me happy.

They cannot take it out on the new owner. I know you keep saying this stuff, but the new owner was not a party to their contract. They cannot take it out on them. If they deny service they can (and should) be sued. Their only point of enforcement is against the original owner, no matter how much it sucks that people are scam artists flipping their trucks.

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