For those who have analyzed previous Cybertruck auctions and how people went about it, the rather muted response towards the most recent auction bid may not be entirely unexpected. As of March 22, 2024, there have been five known instances of someone flipping the Tesla Cybertruck. A common theme with all five instances was that the winning bid amount fell with each subsequent auction.
On February 24, 2024, the first ever Tesla Cybertruck went under the hammer for a staggering $244,500. This was the only Cybertruck to breach the $200K mark. In the four subsequent auctions, the top bid fell drastically from a high of $195,500 — to a low of $171,100.
It is quite evident already that the most recent auction bids for the Cybertruck indicated a downward trend for the amount of money people are willing to pay to get hold of the truck. The continuous fall in the prices of resale Cybertruck may also affect the reserve price expectations for future bids.
That being said, one of the reasons for the tepid response to this auction was the owners’ claim about him being exempt from Tesla’s “no-resale in the first year” policy, without actually presenting any proof. Could a possible legal move from Tesla — against the new buyers of the truck — be scaring potential bidders away?
