View Full Version : Selling the Roadster
01-30-2008, 02:55 PM
Has anyone tried to sell their place in line? I need to use my deposit to purchase my condo (lousy mortgage market) and I would like to give someone a chance to get a 2008 Roadster before I just get my money back. Do you think Tesla Motors would frown on that type of transaction?
Siry said the cars are more valuable now then when people bought them. They recently sold a place in line at a charity auction for 170K!
That's a really good return on investment and certainly better than buying a property in this spiraling downward market.
01-30-2008, 07:03 PM
The reservation agreement does state that it is not transferable and that Tesla Motors may cancel it and return your deposit. Based on this I would say it is highly unlikely that they will allow any profiting on the reservation prior to deliver of the car.
That charity auction was a while ago. Also, someone may have bid that up a bit because they knew the money was going to charity. I wouldn't take that $170K figure to the bank.
Now, once you have the car in hand, you could try to sell it to someone. Most new model introductions have one show up on eBay to see how high it will go.
I will agree that a $170K bid on a $100K car at a charity auction is largely because people want to help out but I disagree that since it was a while ago that the price would decrease. I think the converse is true that as time and publicity increses, the demand increases and without any supply, the price increases.
Tony's post from Tom http://web.mac.com/tomsax/Tom_Saxtons_Occasional_Blog/Blog/Entries/2008/1/30_Tesla_Owners_-_Town_Hall_Meeting.html (http://web.mac.com/tomsax/Tom_Saxtons_Occasional_Blog/Blog/Entries/2008/1/30_Tesla_Owners_-_Town_Hall_Meeting.html)
says the open spots are selling for $125K. I'd say that is still a good return. And if you only have $30K or$ 50 K down on the car you have a 20% increase on 100 thousand that you have not even invested! I'm not good at that kind of math but $20 thousand dollars on a $30K for 2 years (and 3 months of $100K to build) has got to be really good.
I would look to delay the condo purchase or find the money somewhere else and sell the Tesla on Ebay when it delivers.
The downsides are if Tesla collapses before delivery (already a risk that any buyer has committed to) or the company and car gets a ton of bad press before the car comes to market. Then I think the worst that could happen is the cars would drop to list price considering the Rav 4 EV's regularly sell in the 60K range on Ebay today.
Whoever wants to write over his contract or if forbidden, wants to sell right after taking delivery shall please email me. I would like to get one of the first cars. Have all of the 2008 orders a order nr from 1-??? ?
I wonder if 250K is asking too much?
02-10-2008, 11:41 AM
The 1953 Corvette orignally sold for $3498. Only 300 were made that year. Adjusting for inflation, that would be worth $27,047 in 2007 dollars.
In 2007, one sold at auction for $440,000. That's a return of $436,502 or 12,478%. which works out to about 9.4% annually (5.2% above the inflation rate) for 54 years.
Buying or selling a place in line can open up all sorts of scam opportunities. :eek:
Unless one is 100% certain the transaction is legitimate, I would forego any potential profit and get the deposit back from TM. Let Tesla bump up everyone in line.
Mark Up ok but 250k is not reasonable, sorry. Any serious offers are welcome!
"Let Tesla bump up everyone in line."
They seem to be selling the open spots to celebrties. You may have noticed on these pages that Tesla has been selling open spots for 125K and one went for 170K at a charity auction.
It's only going to go up from there. Other notebale first year car demands are the Miata and Ford GT which both sold at the dealerships at more than double the price until supply met demand.
The Roadster will have a hard time meeting demand once these things start making appearences at high end auto events and on Rodeo drive.
A 250K sale at a Pebble Beach Concours d'Elegance
Pebble Beach Concours d'Elegance : Welcome (http://www.pebblebeachconcours.net/)
Barrett-Jackson - The World's Greatest Collector Car Events™ (http://www.barrett-jackson.com/)
Christie's - Exceptional Motor Cars Including Automobilia from a Private Collection (http://www.christies.com/promos/feb05/5078/promo_gallery.asp?page=7&language=english)
sometime in 2008 sems entirely plausible.
It's a great investment on many levels for those fortunate enough to purchase - even at double prices.
Will be fascinating to see how many celebrities “upgrade” from Prius to Roadster or WhiteStar later down the road.
Still nobody that wants to give his order up? When will the first cars be delivered, March?
Once they actually have cars delivered on the road in the hands of customers with some sort of real life daily range and charging experiences done by real customers in real life situations.
Possibly the car might not depreciate!
It will take a while before a Tesla is transacted at Pebble Beach on the auction block.
Charity auctions are tax deductible....
"The vast Tesla dealer network across the USA will ensure that the value of the car is ......."