Used R1T just sold at lowest auction price so far on Cars and Bids

[SASSquatch]

Winning bid of $75,500 ($78,897.50 with buyers premium of 4.5%) for an R1T with Rivian Blue/Black Mountain/Power Tonneau Cover/Tow Hooks/21" Wheels and <$6K miles.

Appears to be around MSRP pre March 1. Looks like the market for used R1Ts has finally come back to earth.

https://carsandbids.com/auctions/rGe6j84X/2022-rivian-r1t-adventure-edition

Edit: Updated price to include buyers premium of 4.5%. Thank you @Hemee

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[Hemee]

$78,897.50 including the 4.5% buyer’s premium on C&B.

 

[DuoRivians]

It had over 5K miles on it too, so not exactly comparable to an immediate flip.

 

[JohnB R1T]

I didn't read anything on this one, and have no idea...but...when I bought mine (barely) used from a dealer who bought it from a flipper, Rivian told me that "transfer of remaining warranty is not a guaranteed thing". I made sure mine was (before closing on the deal), but, apparently, certain mods, some types of damage, maybe some "harsh use" can cause Rivian to say "No thanks" to transferring it. I can see how this might happen if they had videos of one being driven in the surf (or maybe the one that spent a week frozen in the mud in that quarry). Caveat Emptor does apply to EVs.

 

[FrankieJ]

$75,500 for Rivian Blue/Black Mountain/Power Tonneau Cover/Tow Hooks/21" Wheels R1T with <$6K miles.

Appears to be around MSRP pre March 1. Looks like the market for used R1Ts has finally come back to earth.

https://carsandbids.com/auctions/rGe6j84X/2022-rivian-r1t-adventure-edition

I don’t think Rivian is in need of more demand since they can’t satisfy the demand as it stands today. Longer term they would be well served by letting the consuming public test drive the vehicle and check out how awesome it is. The friends of mine that have ridden in my Rivian R1T can’t believe how incredible the vehicle is. Some of those that are fortunate enough to afford one have placed their order, others just want to ride in it as often as they can. Once the public realizes how state of the art the Rivian is they will be willing to pay more for a used one rather than waiting 2 years to get their hands on a new one. I know I sound like a fanboy- I absolutely am!

 

[SASSquatch]

It will be interesting to see if the flipper markt cools down significantly since prices have fallen back down to earth.

I think the used R1T market will still be robust, meaning vehicles will sell quickly because they are 1.) available and 2) less than current MSRP, but l think the days of six figure resles are likely gone.

 

[JohnB R1T]

It will be interesting to see if the flipper markt cools down significantly since prices have fallen back down to earth.

I think that the flipper market will remain as long as there are still newly-built Rivians being delivered at the "old prices". Quite a few people likely remain "on the list" who may have once had every intention of buying it and driving it, but have since "moved on" for one reason or another.

Assuming that you could actually afford to buy it in the first place, you'd be pretty much a complete idiot to be eligible to buy it for the old price and not take delivery. "Afford" here does not mean "I can make the payments". Likewise, it doesn't require that "you can pay cash". Lots of people buy lots of things that they cannot "afford"

If you "could afford it" back when you got on the list, but have since used up your credit by buying something else, then it's not so much that you "can't afford it" as that you made a financial decision to seek the (more) instant gratification of the vehicle you didn't have to wait (as long) for. If this is the case, then, unless you have a pending inheritance or windfall coming, you should have already dropped off of the list.

 

[moosehead]

In hindsight, flipping a rig after putting 6k miles on it and selling at same price it was purchased for seems good.

It was the last 12+ years of cheap capital that was the anomaly.

 

[Prime]

Winning bid of $75,500 ($78,897.50 with buyers premium of 4.5%) for an R1T with Rivian Blue/Black Mountain/Power Tonneau Cover/Tow Hooks/21" Wheels and <$6K miles.

Appears to be around MSRP pre March 1. Looks like the market for used R1Ts has finally come back to earth.

https://carsandbids.com/auctions/rGe6j84X/2022-rivian-r1t-adventure-edition

Edit: Updated price to include buyers premium of 4.5%. Thank you @Hemee

I’m pre march and that sold price after commission is cheaper than the msrp of my build with no power tonneau. Crazy how the prices have dropped.

 

[JohnB R1T]

I’m pre march and that sold price after commission is cheaper than the msrp of my build with no power tonneau. Crazy how the prices have dropped.

How many ICE vehicles can you point to that you could buy, put 6,000 miles on, and then re-sell for the current sticker price? Even for the sticker without a $1,500 option? Particularly when the sticker price has increased by 20%?

 

[SSteveEV]

I didn't read anything on this one, and have no idea...but...when I bought mine (barely) used from a dealer who bought it from a flipper, Rivian told me that "transfer of remaining warranty is not a guaranteed thing". I made sure mine was (before closing on the deal), but, apparently, certain mods, some types of damage, maybe some "harsh use" can cause Rivian to say "No thanks" to transferring it. I can see how this might happen if they had videos of one being driven in the surf (or maybe the one that spent a week frozen in the mud in that quarry). Caveat Emptor does apply to EVs.

Same deal here, took a few phone calls and emails to get that the warranty for my VIN would transfer in writing. Pretty sketchy language in there that they weren't very familiar with at the time.

 

[Prime]

How many ICE vehicles can you point to that you could buy, put 6,000 miles on, and then re-sell for the current sticker price? Even for the sticker without a $1,500 option? Particularly when the sticker price has increased by 20%?

No doubt… but electric vehicles in general retain value much better than ICE (minus the plaid Tesla models). And the Rivian R1T doesn’t have 20k on the road yet, so as a high demand low volume vehicle, I stand by my surprise of the price drop so quickly. I think it’s more because some got incredible tax and state incentives on top of launch pricing that made flipping even at msrp a notable win, unfortunately it drags down the overall resale. I’m not planning on selling anytime soon, just my observation.

It’s definitely a win for those who haven’t pre-ordered yet and want a great deal.

 

[R1Sky Business]

How many ICE vehicles can you point to that you could buy, put 6,000 miles on, and then re-sell for the current sticker price? Even for the sticker without a $1,500 option? Particularly when the sticker price has increased by 20%?

FJ Cruiser

 

[SASSquatch]

No doubt… but electric vehicles in general retain value much better than ICE (minus the plaid Tesla models).

Uh...outside of very sought after new EV categories like EV Trucks and new companies (Lucid/Rivian) and some Tesla, EVs from other manufacturers have not held their value well at all. I've experienced this first hand.

The reason is that as battery technology developed over time, older models are replaced with models with much more range making the earlier models mostly obsolete.

 

[Firewired]

How many ICE vehicles can you point to that you could buy, put 6,000 miles on, and then re-sell for the current sticker price? Even for the sticker without a $1,500 option? Particularly when the sticker price has increased by 20%?

Did that with a Tacoma that I drove for two years.

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