Tesla Cybertruck Auction Frenzy: Latest Bid Peaks at $158,000
Update, March 22: The recent auction for the Cybertruck concluded with a top bid of $158,000, though it ended without a sale due to the minimum required bid of at least $50,000 above MSRP not being met. Details of the auction and previous reports are provided below.
Price Fluctuations Continue for Tesla’s Cybertruck
The turbulent pricing trends for the Tesla Cybertruck persisted this week with its debut on the Cars & Bids platform. The model up for auction was a 2024 AWD Foundation Series in a stainless steel finish paired with a black interior.
By Monday afternoon, the highest bid had reached $150,500, with the auction set to close on Friday. According to the site, 15 bids had been placed up to that point.
The Elusive and Coveted Cybertruck
Elon Musk’s extensively discussed and long-delayed Cybertruck has already faced significant speculation both in terms of availability and pricing. With the 600-horsepower trucks hitting the market — their MSRP at approximately $100,000 — price tags have seen extreme highs and lows. Recently, in a dealer-exclusive auction, two units sold for less than $200,000 each.
Details of the Auction Model
The specific Cybertruck listed on Cars & Bids is located in Pasadena, California, heralded as a "limited edition Foundation Series model reserved for early customers." It comes laden with premium features such as:
- Stainless steel exoskeleton
- Four-wheel steering
- Full self-driving capability
- 600-horsepower dual-motor all-wheel-drive powertrain
This vehicle remains virtually new, with fewer than 100 miles recorded on the odometer. Additional equipment includes:
- 20-inch wheels
- Power sliding Vault tonneau cover
- Panoramic glass roof
- Heated and ventilated front seats
- 18.5-inch Infinity center touchscreen
- 9.4-inch rear touchscreen
- "Fully self-driving" capability
Market Dynamics
The seller recently acquired the vehicle this month. Elsewhere, the Cars Guru website lists five used Cybertrucks, with prices ranging between $200,000 and $250,000.
Just this month, wholesaler John Clay Wolf disclosed to Autoblog that he purchased an early Cybertruck for $210,000 and resold it in February 2024 for $244,000, achieving a markup of roughly $135,000 over the MSRP. Wolf commented, "Elon will be pissed, but at least he set the bar high for what his product is worth," recognizing the current volatility in valuations as market dynamics shift, inventory stabilizes, and demand ebbs.
Tesla has provisions in their sales agreements imposing penalties on owners who flip their trucks within 12 months post-delivery. These penalties could exceed $50,000, depending on the sales price.
Conclusion
The rollercoaster journey of Tesla Cybertruck’s market arrival underscores the electric vehicle’s unique position in the automotive landscape. As eager buyers grapple with a fluctuating market and Tesla enforces stringent resale conditions, the Cybertruck continues to be a focal point of intrigue and speculation. Stay tuned to automotive.fyi for ongoing updates and deeper insights into this evolving story.
