Cybertruck - Cars and Bids for $122k?

[DFWBrad]

https://carsandbids.com/auctions/3LqNQnqR/2024-tesla-cybertruck-foundation-series

Sorry if not allowed, but curious why someone would dump a Cybertruck for $122k?

After taxes may net $8-9k?

Could of bought $1100 worth of Tesla stock in Nov 2019 (the cost for deposits) and made almost 2-3x that 4.5 years of waiting seems like a waste of time specially just to get banned from Tesla

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[Coagulation]

Bought without intent to own and/or couldn’t afford

 

[Stinky10r]

We now live in a world where netting $8-9k in less than 5 years isn't enough....

 

[MilliM]

Not sure the original owner had a super clear crystal ball when they put their $100 (not $1,000) deposit down 4 years ago.

As much as I like mine, I can see someone who wants (or needs) to get out to go no reserve (didn’t look to see whether it was) and let the market do its work. Otherwise you risk being like that home seller constantly pricing your house a bit too high and chasing the market down.

Just my $.02 worth.

 

[Armyintel96b]

Never know someone's personal situation. Their live may have changed quite a bit over the past 4 years. Someone may not give two shits if they get banned from Tesla.

 

[MajorVictory]

Divorce/Illness/Deployment/Job Location change...?

 

[DFWBrad]

We now live in a world where netting $8-9k in less than 5 years isn't enough....

They had to risk $110k (after taxes, may vary by state) to make 7-8% return, pretty big risk imho when you can get that in SPX pretty consistently.

Idk, there's lots of "if's" that could of happen, just weird to let it go so much cheaper than everyone else. Specially when another one sold days before for like $15k more.

 

[Stinky10r]

They had to risk $110k (after taxes, may vary by state) to make 7-8% return, pretty big risk imho when you can get that in SPX pretty consistently.

Idk, there's lots of "if's" that could of happen, just weird to let it go so much cheaper than everyone else. Specially when another one sold days before for like $15k more.

No. Their risk wasn't $110,000. Their risk was their deposit to Tesla, their down-payment, and taxes. Likely less than $10,000 of risk. These trucks are no different than the C8 Corvette, Demon 170, GR Corolla, or the G80 M3/M4. Once the supply catches up, the demand dies down as do the prices. Every week a new cybertruck is on either BAT or carsandbids and going down in price. The one that went for $15,000 more wasn't the first one sold at $160,000. Supply is simply catching demand. This seller made $8,000 at worst.

 

[Alpine]

We don't know what the final sales price is unless we know transactions first hand. Reports are the secondary CT market is in rapid decline and predictably so with greater ramp and non foundation trucks on the horizon. Many of the listings at this point are non serious sellers who have a just-in-case high price listing.

If i had my truck, i would probaly list it too. Not because i want to sell it but because everything has a price and for the right price, im not married to any material thing.

 

[DFWBrad]

No. Their risk wasn't $110,000. Their risk was their deposit to Tesla, their down-payment, and taxes. Likely less than $10,000 of risk. These trucks are no different than the C8 Corvette, Demon 170, GR Corolla, or the G80 M3/M4. Once the supply catches up, the demand dies down as do the prices. Every week a new cybertruck is on either BAT or carsandbids and going down in price. The one that went for $15,000 more wasn't the first one sold at $160,000. Supply is simply catching demand. This seller made $8,000 at worst.

Had to either put cash down or finance ~$110k, you're risk is that it doesn't sell (highly unlikely, but still a risk) and you're stuck with $110k truck. I get your view of "they only put $10k down" or w/e, but ultimately they took on debt, which you don't get to not count debt as a risk. But again, not here to argue, just found it interesting that they firesaled it.

We don't know what the final sales price is unless we know transactions first hand. Reports are the secondary CT market is in rapid decline and predictably so with greater ramp and non foundation trucks on the horizon. Many of the listings at this point are non serious sellers who have a just-in-case high price listing.

If i had my truck, i would probaly list it too. Not because i want to sell it but because everything has a price and for the right price, im not married to any material thing.

100%, for the right price everything is for sale Just with how the market has been selling, felt that was a little firesale vs what everyone else has been getting.

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