R1T just sold for $47k...

sk00pie · Nov 26, 2024

Best deal I've seen thus far....

https://carsandbids.com/auctions/9XmgRwvx/2022-rivian-r1t-adventure-edition

Electrified Outdoors · Nov 26, 2024

I saw that. Keep in mind the buyer pays an additional 4.5% fee on top so buyer bids accordingly….still probably below 50k though. Looks like it’s had two instances of body work and two windshields. I guess the 3rd one is the charm.

Looks like a nice truck though. Someone got a good deal!

sk00pie · Nov 26, 2024

Ah interesting! Still a solid truck even with the body work. Located near me I would have jumped on it if I knew it would sell so low!

Electrified Outdoors said:
I saw that. Keep in mind the buyer pays an additional 4.5% fee on top so buyer bids accordingly….still probably below 50k though. Looks like it’s had two instances of body work and two windshields. I guess the 3rd one is the charm.

Looks like a nice truck though. Someone got a good deal!

Gratedwasabi · Nov 26, 2024

The auction sites almost always sell well below market price, FWIW. They tend to be closer to trade in or wholesale than private party values.

Buyer pays fees and shipping, you don't get to see the car in person, etc. It's a risk and prices reflect it.

sk00pie · Nov 26, 2024

Gratedwasabi said:
The auction sites almost always sell well below market price, FWIW. They tend to be closer to trade in or wholesale than private party values.

Buyer pays fees and shipping, you don't get to see the car in person, etc. It's a risk and prices reflect it.

That makes sense. It's still by far the lowest sold I've seen, even on auction sites. The winner accidentally bid 57k the during the final minute so it scared other buyers off. The website removed that bid siting accidental and he was able to bid 47 and win it.

Gratedwasabi · Nov 26, 2024

sk00pie said:
That makes sense. It's still by far the lowest sold I've seen, even on auction sites. The winner accidentally bid 57k the during the final minute so it scared other buyers off. The website removed that bid siting accidental and he was able to bid 47 and win it.

Really? That's super sketchy.

The car also seems to have had multiple unreported accidents. I wouldn't have touched it without having it inspected first.

sk00pie · Nov 26, 2024

Gratedwasabi said:
Really? That's super sketchy.

The car also seems to have had multiple unreported accidents. I wouldn't have touched it without having it inspected first.

Yep that's the only reason it sold this low. Yeah I saw he hit a deer front bumper replaced. I would have taken the risk for 15-20% under market value comps.

Gratedwasabi · Nov 26, 2024

Oh yeah reading the comments. I bet it gets relisted, I'd be furious as the seller.

sk00pie · Nov 26, 2024

Gratedwasabi said:
Oh yeah reading the comments. I bet it gets relisted, I'd be furious as the seller.

Right? I think it and several watchers who were scared off by the 47 to 57k offer bump and backed off. Then he got to swoop back in. I do think it was accidental super lucky!

Gratedwasabi · Nov 26, 2024

Yup. I've done these auctions, even with increments on bids people wait until 10s left to bid. It results in situations like this.

As the seller I'd refuse the sale and be willing to lawyer up, or force BaT to kick in cash. There was a 57k bid by a registered bidder, 57k is what the seller should get.

sk00pie · Nov 26, 2024

Gratedwasabi said:
Yup. I've done these auctions, even with increments on bids people wait until 10s left to bid. It results in situations like this.

As the seller I'd refuse the sale and be willing to lawyer up, or force BaT to kick in cash. There was a 57k bid by a registered bidder, 57k is what the seller should get.

Yeah I don't think I've seen anything under 53k yet. Cars and Bids at least adds 1 minute each time someone bids allowing others to keep bidding as well.