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RivianR1TinSFL

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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
It is not a Rivian thing/effect. It's the auto market in general. And that is still a pretty good resale for that unit.
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madgrey

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I've been watching auctions for a few different vehicles over the last 18 months or so and I'm definitely seeing many reserve-not-met and lower sales prices in general. The best resale I've had was on my wife's 6 year old Jeep Wrangler Rubicon Hardrock that had a net sold price within single digit dollars compared to the out-the-door purchase price (including tax, license). Those times are probably behind us.
 

rpmichelson

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LMFAO... I wouldn't buy a Rivian at that price unless I expected hidden damage that I could fix myself. In this case I would expect damage.
 

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mini2nut

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The seller set a low reserve on that one.
 

drivetorun

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I think both the RIT and Lightning may run into a demand issue in the near future at the $70-100k price point. I think "traditional" truck buyers in that price range expect their truck to be the do-it-all vehicle, but between limited towing range and far from perfect charging networks, it's going to hold people back unless they've made the conscious decision to go electric.

That was the whole premise behind Tesla's Model S. Their goal was to build the best sedan that happened to be electric, and they largely succeeded. Couple that with the fact that the ~$60k+ large sedan is rarely the only vehicle and/or the utility vehicle in the garage of the targeted demo, and it made the jump to electric easier.

Rivian's up against a slightly different battle in that regard. I think the R1S will have an easier time because towing isn't seen as being as critical a capability in that segment, and the market for SUVs is way larger in metro areas than pick-ups, which is where EVs are generally an easier sell anyway.

If Rivian is able to bring back some of the "magic" to the RIT (e.g. camp kitchen, tank turn) or some of the other potential features (e.g. removable roof panels, removable doors...heck, even Carplay/AA ;)), that may help make the "compromise" going from gas to electric easier for those from the traditional truck market. Until then, or range significantly improves (400mi+ not towing), I think demand isn't going to be as consistently strong as the manufacturers think in that price point.
 

Zorg

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3/Y gold their value pretty well, unless bought last year, but 2018 model 3 are still selling for low mid 30s.
 

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Grajjie

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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!
Totally agree. Rivian really needs to start doing public test drives or have marketing events around the country to get people inside a R1 and to give it a drive. For the few months I've owned mine I rarely had anyone come up to me and know that it's a Rivian so it seems like the general public isn't too familiar with the brand and vehicle.

BMW does this with their Ultimate Drive Experience (UDE) events every year and it lets people toss around their latest vehicles in an autocross track as well as experiences that showcase their new tech.

Although I am guessing Rivian wants to clear the backlog of orders first to prevent people being turned off about the idea of waiting 1-2 years to actually get one.
 

Evel Knievel

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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!
If it was only 2 years: hence the used market will remain strong. Plus it’s a great pick up. Used prices for the 3 on AutoTrader.ca are above list.
 

SANZC02

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If it was only 2 years: hence the used market will remain strong. Plus it’s a great pick up. Used prices for the 3 on AutoTrader.ca are above list.
Asking price may be over list because with the lowered prices people are probably upside down. Not sure who would pay over list since Model 3s are available from Tesla and now qualify for at least some of the 7500 rebate.
 

KeithPleas

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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.
Also whether you got it before the tax laws changed (a one time windfall). Plus whether you live in a state with significant sales tax.
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