Tesla Cybertruck sells for $400,000 at auction

While Tesla has yet to announce official pricing for the Cybertruck, one person was willing to spend $400,000 to get their hands on one of the first units that will be built. That price was achieved during an auction at the Petersen Automotive Museum over the weekend.

The Cybertruck was listed as one of the auction items at the 29th annual Petersen Gala, with the item described as a “low-vin Cybertruck.” The Gala was hosted by Jay Leno, and tickets for the Gala sold for $1,750 each, while if you wanted to purchase an entire table for your group it would cost $17,500, or Premier Table would set you back $30,000. The high prices attracted a lot of wealthy individuals that would have wanted to get their hands on a piece of automotive history.

The auction started off online where anyone could place a bid, before it finished up in-person at the Gala. Despite some Tesla fans thinking it could fetch in the high six figures, or even into the seven figure range, the Cybertruck was eventually sold for $400,000. The identity of the winning bidder has not been announced.

While $400,000 doesn’t sound low, especially when you consider the truck’s expected selling price of around $60K-$70K, it is when you compare it to first GMC Hummer EV that was auctioned off for $2,500,000. But there are a few reasons why the Cybertruck sold for less than the Hummer EV.

One of those is that this auction was simply a “low-vin” Cybertruck, which doesn’t hold the same significance as being the first one off the line. Without that specificity, this Cybertruck might take months to arrive after the first deliveries, and even still to this day we don’t know when the first Cybertrucks will be delivered. Another reason could be that proceeds from the Hummer EV auction went to the Tunnel to Towers Foundation, a nonprofit foundation that helps injured military and first responders and the families of those who had died in the line of duty, while the proceeds from the Petersen auction appear to go back into the museum itself.

Finally, this buyer still doesn’t really know what they’re getting. Tesla still hasn’t announced the final specs of the Cybertruck, or which variant will be sold first.

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