Spacenoddle

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I chatted with the man who FLIPPED the first Cybertruck for $245,000
John Clay Wolfe

- how it went down
- total profit
- thoughts on the no resale agreement
- his words for Elon Musk
- and his predictions on the CT market




Screenshot 2024-03-01 at 11.55.01 PM.png
fantastic video! Nice to see a pro talking about the CT market value.
 

Outdoors

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14:10 on the video happens. All OEM's always order other competitors within same class.

Friend of 20 years has to drive a different OEM car each month. I say super cool. He says. Do you know how many reports I have to write? All nuanced BS sometimes. Sound of the seatbelt as pulled across body. He just wants his brand. No report.
 


BChiesa

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14:10 on the video happens. All OEM's always order other competitors within same class.

Friend of 20 years has to drive a different OEM car each month. I say super cool. He says. Do you know how many reports I have to write? All nuanced BS sometimes. Sound of the seatbelt as pulled across body. He just wants his brand. No report.
Best report is no report
 

Jhodgesatmb

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I’d like to see everyone in the loop, including anyone that benefited financially in any way, tied to a stake and left there, on top of taking all of their assets. I have no tolerance for people that put their greed over everything else. I don’t really care about the enforceability of Tesla’s purchase agreement; these people know what they are doing and why and should be made an example of selfishness.
 

firsttruck

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The auction house guy has a very limited view of how a real complete long-term capitalistic system would work.

Shouldn't the human capital of 1,000s of Tesla employees that spent over 5 years to create the Cybertruck making machine (productive factory) that make the machine (Cybertruck)

AND the 10s-100s billions $ capital invested for land/equipment/building construction, equipment design/engineering, etc)

AND after all that investment has to weather the risk the Cybertruck might fail in the market

Shouldn't Tesla GET MORE PROFIT THAN a flipper/scalper who only invested $100 (+ losses from inflation and opportunity costs) for 5 years plus probably only had a short-term bank loan for a couple of months during the final Cybertruck full payment and completion of flip/scalp operation.

Tesla's over 5 years of blood sweat and tears, loses money at first on early Cyberrtruck sales and MIGHT later( if successful a couple years in future) when Cybertruck has ramped might get $20K-$30K profit per vehicle.

Flipper/scalper with little time expended and little upfront cash for couple months gets profit of $100K -$140K.
 
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Gatec77

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Nice informative video.
When tesla did not compensate people when they sold their model Ys at a loss when prices dropped suddenly, they should not punish owners when they sell their CTs for a profit. It is the way business works.
 

firsttruck

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Nice informative video.
When tesla did not compensate people when they sold their model Ys at a loss when prices dropped suddenly, they should not punish owners when they sell their CTs for a profit. It is the way business works.

There is a huge difference between the situations.

The sales CONTRACT for the Cybertruck has additional requirements stipulated ( 1-yr no resale, 1-yr Tesla approval, Tesla right to buyback, etc) besides the $100K.

The sales contract for Model 3 and Y do NOT.

Buying a specific vehicle is not a human necessity. If you don't like the contract terms buy a different vehicle (Lightning, Rivian, Hummer, Silverado or wait until Tesla changes contract terms).

Just like in 2024 nobody has a legal right to get Cybertruck by paying 2019 estimated price of $40K. You might want the Nov 2019 price but Tesla has NO legal obligation.
 
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SlegMD

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Elon will be putting the price higher soon. He knows we will but at any price. I say $150k is reasonable, there is no other truck like this.
Sorry, no

Wolfe basically says the truck is not worth that several times/ways, and it’s not. This truck has sold this high due to its unique state in the market, as it’s a niche item that several people want. This will have a limited window. Elon wants to sell the truck to the world, not the 1%.
 

HaulingAss

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There is a huge difference between the situations.

The sales CONTRACT for the Cybertruck has additional requirements stipulated ( 1-yr no resale, 1-yr Tesla approval, Tesla right to buyback, etc) besides the $100K.

The sales contract for Model 3 and Y do NOT.

Buying a specific vehicle is not a human necessity. If you don't like the contract terms buy a different vehicle (Lightning, Rivian, or wait until Tesla changes contract terms).
Exactly!

This brain-damaged ex-auto dealer, car flipper, joke of a businessman, acts like he supports capitalism, but then wants to restrict the producers right to sell the products they make with contractual encumbrances (like the no-resale clause).

You can't support capitalism without supporting the right of two consenting adults to enter into a contractual purchase/sale agreement!

The guy is a complete moron for not being able to see what a bone-headed position he's taking. I think he took too many hits to the brain back when he used to play football. Or, maybe he was born dumb. With capitalism, you make it, you own it, you get to write the terms of the sale. The buyer can take it or leave it.

That's true capitalistic freedom, he just doesn't get it.
 

rudedawg78

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This guy is a moron. Just from the beginning when he introduces himself and throws his political party in there, I knew I wouldn't like this guy.

Some quotes of his that are moronic:
"All Tesla owners are flippers..." Uh... No....

"I would love to have Elon come on here on why flipping is bad... it is just capitalism" Ughhh... dude, it is so you don't clog the system with orders to make $100K each truck while the rest of us just wants our truck. Flipping does not equal capitalism, especially when legal language states the opposite.

I really hope this smart ass dude gets busted. He comes across very condescending and even states he is going to auction off another Cybertruck next week and will keep doing it.

Screw this guy! He even calls people dumb who pay that much for a Cybertruck when referencing the $245K Cybertruck sale. Calling "customers" in any business dumb tells me a lot about the individual.
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