Failed R1T auction: High bid price of $85K doesn't meet reserve

[AllInev]

https://bringatrailer.com/listing/2022-rivian-r1t-43/

The beginning of the end of flipping and crazy high auction prices for the R1T?

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[Guy]

This is the second R1T on two different sites this week that only were bid to high 80’s. Maybe a sign to come that the market is cooling even with an MSRP in the 90’s

 

[Dark-Fx]

https://bringatrailer.com/listing/2022-rivian-r1t-43/

The beginning of the end of flipping and crazy high auction prices for the R1T?

I hope people stop buying them if they don't intend on keeping them.

 

[mabowden]

Hmmm. I didn't think the market on R1T's would cool so quickly. Makes you double think your position just a little doesn't it? I'm not in this to make a quick buck but I also don't want to be hosed on the resale of such a pricey vehicle (5 years down the line or so).

 

[R1Sky Business]

It was bound to happen Sooner or later

 

[R1Sky Business]

People probably afraid to pay early adopter tax as well

 

[mabowden]

People probably afraid to pay early adopter tax as well

True, but why wouldn't someone jump out of line post-march 1st pricing to grab one of these? I want to say the bid-electric one went for less than post-march 1st MSRP

 

[electruck]

https://bringatrailer.com/listing/2022-rivian-r1t-43/

The beginning of the end of flipping and crazy high auction prices for the R1T?

Not surprising given there's only a handful of people with more dollars than patience who would actually be willing to throw money away just to jump the line. There's also enough of these on the streets at this point that the ship has sailed for those wanting to be one of the first to own one. And with production up and wait times down, it makes even less sense to pay that kind of expedite fee.

 

[COdogman]

I think this is totally natural given the current market and interest rates. I don’t know what resale prices for the Lightning look like, but I bet they have come down too. I could imagine in a couple years the value of an earlier R1T is the same or greater than the value of a later model after they have cut out some of the luxury features, etc.

It’s also possible that values stay down once more EVs are for sale. Those early resellers benefitted from the R1T being the first EV pickup on the market.

Definitely think those crazy resale prices are long gone though!

 

[virgnia_rivian]

A white R1T just sold on Cars & Bids for $92k. Prices for aftermarket are definitely down.

A day later a Lightning failed to meet its reserve with a high bid of $82k.

The market is changing.

 

[Taycanfrank]

The bids have been under resale value for the entire time. You can still flip an R1T at a dealership or privately for six figures.

 

[Florida Panhandler]

A lot of Wall Street money has evaporated into thin air the last 2 months. I know of a lot of friends right now who are very distressed looking at their recent financial statements. The concept of laying out $120k cash for a car isn’t quite as great an idea right now for a significant chuck of would-be car buyers.

 

[R1Sky Business]

True, but why wouldn't someone jump out of line post-march 1st pricing to grab one of these? I want to say the bid-electric one went for less than post-march 1st MSRP

No reserve auctions???

 

[R1Sky Business]

A white R1T just sold on Cars & Bids for $92k. Prices for aftermarket are definitely down.

A day later a Lightning failed to meet its reserve with a high bid of $82k.

The market is changing.

So not quite 20% depreciation once driven "off the lot"...

 

[kvenom]

The solution is bring em up here to Canada where there are none. ?

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