We reported on a Tesla Cybertruck Foundation Series that was flipped and sold for more than twice what it cost new just last week. Now, that same truck is up for sale at a Porsche dealership in Florida for nearly $US300,000.
Porsche South Orlando posted the 2024 Cybertruck with just 69 miles (nice) on the clock for $US289,999 on its website after winning the February 28 Manheim auction with a bid of $US244,000. Remember, the Cybertruck Foundation Series costs about $US120,000 when new. This was the first Cybertruck sold at a used-car auction, however, some have already been sold privately, according to Automotive News. The flip-e has now become the flipper.
The Cybertruck in question was spec’d out with all-wheel drive, all-terrain tyres, Tesla’s Full-Self Driving beta system and some other bespoke Foundation Series aesthetic details like laser-etched badges, according to our previous reporting.
Tesla is not a fan of people trying to flip the Cybertruck for a profit. Here’s more on what can happen, from AutoNews:
Tesla has warned Cybertruck buyers that their sales agreement includes a clause forbidding resale within 12 months to prevent “flipping,” or buying the vehicle with the intention of selling it for a profit. Tesla has a long list of reservation-holders who may have to wait years for the Cybertruck, which launched in November.
Tesla’s anti-flipping policy states that early resale of the pickup can incur a $US50,000 penalty or more depending on the resale price. An exception for unforeseen circumstances requires the buyer to sell it back to Tesla at the original price, minus wear and tear. Tesla can also grant permission for a resale, the policy states.
Well, it sure looks like whoever originally flipped the Cybertruck either didn’t care because they cleared way more than $US50,000 in profit, or they know Tesla isn’t coming after them.
Here’s a little more about the state of Cybertruck flipping, according to Automotive News:
The CEO of the auto wholesale business givemethevin.com, John Clay Wolfe, said on his YouTube channel that his firm was the one that sold the Cybertruck on Manheim after buying it from a private seller for $US210,000. A livestream of the Manheim auction confirmed that givemethevin.com was the seller.
Wolfe said on his channel The John Clay Wolfe Show on March 1 that there have been a significant number of Cybertruck buyers who want to resell their pickups for a profit, but they are afraid Tesla will sue them because of the no-resale clause for original Cybertruck buyers.
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“We worked 30 deals to get that truck bought because everybody flaked out when they realized that Tesla was going to sue them for the $US50,000,” said Wolfe, referring to the Cybertruck auctioned last week. His firm also sold another Cybertruck privately because it didn’t want to auction two of them at the same time, he said.
Wolfe also said he didn’t expect to make much money on the auctioned Cybertruck after paying $US210,000 for the it in order to convince the owner to sell. But the auction proved him wrong when the final bid came in.
There are several more Cybertrucks being purchased from private sellers that will likely make it to auction soon, Wolfe said. But he also warned that the resell values of the early pickups might not hold up over time.
Wolfe admitted that these absurdly high prices for Cybertruck aren’t going to hold up – pointing to the GMC Hummer EV as an example. At one point, those were selling for well over $US200,000. Now, they’re going for about half of that.
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