Auction House Flips Cybertruck for More Than Double the Price

Status Symbol

Auction house Cox Automotive just sold a Foundation Series Cybertruck for an eyewatering $244,000, more than twice its original price, as CarScoops reports, to a Porsche dealership in South Orlando, Florida.

The sale highlights just how much of a status symbol the oddball pickup has become — not to mention its limited supply, which makes it catnip for collectors.

The move was also risky: apart from being an outrageous price to pay for a vehicle that has had its own fair share of problems — from rusting stainless steel panels to deteriorating tires — Tesla actually has a clause in its paperwork that requires owners to request a buyback if they want to sell it.

That means the auction house may be on the hook for a $50,000 penalty — or even the entire profit it made on the sale, which could amount to over $100,000.

Hot Tesla

It's likely the first auction resale of a Cybertruck that wasn't authorized by Tesla, as Jalopnik reports, but not the first one ever. Last year, the Elon Musk-led company sold one of its earliest models at a sale hosted by the Petersen Automotive Museum, before implementing its unusually strict rules.

"Tesla may seek injunctive relief to prevent the transfer of title of the Vehicle or demand liquidated damages from you in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater," Tesla notes in a section titled "For Cybertruck Only" in its Motor Vehicle Order Agreement customers have to sign.

"Tesla may also refuse to sell you any future vehicles," the document reads.

To be clear, there's no evidence that Tesla will actually enforce its bizarre policy, let alone publicize its stance on the issue, given its total lack of a PR department.

In other words, only time will tell if Cox Automotive got away with making an extremely easy $100,000.

More on the truck: Tesla Vows to Sue Anyone Who Resells Their Cybertruck