Top-End Tesla Cybertruck Fetches Over Double Sticker Price At Auction Amid Resale Market Jitters, Quality Concerns

Tesla‘s top-of-the-line Cybertruck, the tri-motor all-wheel-drive variant, also known as “Cyberbeast”, fetched a hefty $262,500 (including buyer’s premium) at a recent Sotheby’s Motorsport auction. 

What Happened: Bidding opened at $78,000 on April 2 and concluded on Tuesday with 108 bids, surpassing the starting price by over $184,000. The seller was identified as a dealer named ShibaInu.

This auction result might briefly alleviate concerns about the Cybertruck’s resale value. The electric pickup truck, first unveiled in late 2019, became available for purchase late last year.

Why It Matters: The Cyberbeast is priced at $99,900 on Tesla’s website, with the company suggesting the vehicle may become eligible for a federal tax credit later this year.

Performance metrics available on Tesla’s website show that the Cyberbeast has a range of 320 miles and a 0-60 miles per acceleration time of 2.6 seconds. It has a top speed of 130 miles per hour and boasts of 845 horsepower. The towing capacity is 11,000 pounds. The wait time is fairly long, with the estimated delivery time stated as 2025.

While analysts expected the unique design to boost sales across Tesla’s lineup, production delays, higher-than-anticipated pricing, and a general slowdown in EV adoption have hampered sales.

Never Mind Quality Issues? While the hefty auction price is positive news, the Cybertruck has also faced criticism from some early buyers. 

A recent New York Post article highlighted user complaints regarding quality control issues. 

A Tesla Owners’ Club forum post described a user’s experience of their Cybertruck dying after just one mile and experiencing steering errors.

CEO Elon Musk recently addressed concerns about large door panel gaps on some Cybertrucks, asserting that the issue is easily fixable within a few minutes.

Read Next: Cybertruck Deliveries Hit By Electrical Gremlins? Consultant CEO’s Ride Stalls In 5 Miles, Another’s Down In 4 Days

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