We’re about to get a much better understanding of what the Tesla Cybertruck‘s market is really like.
A top-of-the-line Cyberbeast variant is currently up for public auction for the first time thanks to Sotheby’s Motorsports. The electric pickup is being sold without reserve, so its gavel price stands to be a good signal of where the EV’s secondary market is.
A reserve is the price threshold that must be met before a seller has to part ways with their vehicle at auction. Sotheby’s Motorsports is selling this Cyberbeast without reserve, but bidding did start at $75,000, according to Bloomberg. That means there’s still a chance, however unlikely, that the coveted EV could sell for below its estimated $120,000 starting price.
Inside the 2024 Tesla Cyberbeast Foundation Series
Sotheby’s Motorsport
“As we all know, with no reserve anything can happen,” Colleen Cash, president of Sotheby’s Motorsport, told the financial newswire earlier this week.
As intriguing as a “no reserve” sale may be, it’s unlikely that the person selling the EV through the auction house won’t at least recoup the original cost. Tesla started building the EV last fall, but CEO Elon Musk has said that mass production of the EV won’t begin until later this year at the earliest. Because of this, some Cybertruck owners have been able to turn a big profit on rare early-production examples (Tesla has threatened to blacklist flippers in an attempt to quell the market). Last month, a Florida Porsche dealership listed a barely driven Cybertruck for $290,000—and its disappearance from its website suggests someone may have been willing to pay that price.
Sotheby’s Motorsport
On top of this, the Cyberbeast is the best version of the Cybertruck you can buy. The most powerful version of the EV has a tri-motor powertrain that produces 845 hp that is split between all four wheels. It has a 320-mile range, which is 20 miles less than the standard all-wheel-drive Cybertruck, but can sprint from zero to 60 mph in 2.6 seconds and hit a top speed of 130 mph. It starts at $99,990 normally, but the example up for auction is a Foundation Series variant which costs an additional $20,000.
With seven days left in the auction, bidding for this Cyberbeast has already reached $91,000 as of press time. That number figures to rise over the coming days, but the final gavel price will determine just how much juice the Cybertruck secondary market has left—and if the highs of late February and early March were misguided speculation.
