Auction record: Tesla Cybertruck reaches twice its list price

Despite numerous controversies and delays, the Tesla Cybertruck is one of a kind. A recent event in which a Foundation Series Tesla Cybertruck sold for an extraordinary price, well over double the list price, underscores the demand and interest in this vehicle.

• Tesla Cybertruck sold at auction for $244,000
• Tesla sets strict resale conditions and controls secondary market
• Discussions regarding legal enforceability of Tesla’s Terms of Sale

From the first announcement of the Tesla Cybertruck in November 2019 to the actual start of production and the first deliveries, several years passed, which were characterized by multiple delays and an intense phase of public and professional expectations, as reported in an online article . This period was accompanied by a continued interest in the final technical details and design of the vehicle, with the Cybertruck representing a significant departure from traditional designs in the pickup truck category with its unconventional appearance and innovative use of cold-rolled stainless steel for the body represents.

The sale of a Tesla Cybertruck on Cox Automotive’s Manheim auction platform for $244,000 to a Florida Porsche dealer, an amount more than double the vehicle’s original selling price, has sparked widespread interest, electrek said in a statement Online article reports. This sale is a showcase for the Cybertruck not only because of the price achieved, but also because of the questions it raises regarding the future distribution of vehicles and the shape of the secondary market for electric vehicles. Tesla’s strategy of limiting resales of the Cybertruck by implementing strict contractual clauses may reflect an attempt to secure the exclusivity of the vehicle and limit a market for unauthorized resales that could negatively impact the brand’s image and the value of the vehicle. as it goes on.

Tesla says it has taken specific measures to regulate the resale of the Cybertruck within the first year of delivery. In this context, the company has implemented a regulation aimed at controlling the transfer of the vehicle during this period. Buyers who are forced to sell their Cybertruck during this period for unforeseen reasons are encouraged to grant Tesla the right of first refusal. This means that Tesla has a priority opportunity to buy back the vehicle before offering it on the open market. If the Cybertruck is sold to Tesla without prior notification, the seller runs the risk of being legally prosecuted. In such a case, Tesla faces a lawsuit, which may include compensation of $50,000 or the entire value obtained from the sale, whichever is greater. Tesla could also decide to prohibit the customer in question from purchasing additional vehicles.

This regulation was explicitly stated in the purchase contract for the Cybertruck, which is publicly available on Tesla’s website. Under the “No Resellers” section – which was originally intended to prevent dealers from buying and reselling Teslas in bulk – there is a special clause that applies exclusively to the Cybertruck. This clause makes it clear that due to the initially limited availability of the vehicle, resale is prohibited within the first year after delivery. Exceptions to this rule are possible if the buyer needs to act for urgent, unforeseen reasons and Tesla has been notified of this in writing and consent has been given. In such an exceptional case, Tesla says it will offer to buy back the Cybertruck at a predetermined price, which consists of the original purchase price minus a deduction for miles driven, wear and tear and any repair costs that may arise. If Tesla refuses to buy back, the buyer can only sell the vehicle to a third party after receiving written consent from Tesla, as it is further emphasized. If a buyer violates these provisions, Tesla reserves the right to take legal action to stop the resale as well as to claim damages.

Future Impact and Legal Actions

The news of the sale of a Tesla Cybertruck at a price well above the original retail value is likely to cause quite a stir among current owners, as reported in an online article. Such a sale signals the possibility of a quick and significant financial gain, which will undoubtedly spark lively discussions within the Tesla community and beyond. In this context, the central question is how Tesla will react to such developments.

The consequences of an untracked resale that clearly violates the established rules could be problematic for those who have a genuine interest in driving the Cybertruck. Fears arise that if Tesla does not follow through on its threats and does not act on profitable resales, the Cybertruck trade could become an extremely lucrative business, similar to the situation once observed with the Playstation 5 continues to report. Tesla’s decision as to whether and how the company wants to set an example is eagerly awaited.

However, there is still uncertainty as to whether the no-sales clause will hold up in court in the United States, as case law varies from state to state and such cases have not yet been examined in court, as further reports. A member of the Owners Club noted that such litigation could take years and likely be appealed. Given the potential profit margins of over $100,000 per vehicle, it’s up for debate whether the United States will now see a wave of Cybertruck auctions. The possibility of significant financial return could lead to more owners attempting to sell their Cybertruck for a profit, which could significantly influence the dynamics between Tesla, its customers and the secondary market.

D. Maier / editorial team

Selected leveraged products on Tesla

With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on Tesla