Bidding has begun for the first-ever Tesla Cyberbeast to be put up for public auction.
A Foundation Series Cyberbeast is up for auction at Sotheby’s Motorsport until April 9. Those who want to avoid the car enthusiast line and hope to own one can bid, but expect to pay more than Tesla charges.
Bidding for the Cyberbeast started at $75,000 – closer to the price of an all-wheel-drive Cybertruck – on Tuesday morning and reached more than $90,000 within hours.
“We saw strong auction activity in the first few hours and expect a frothy bidding pool as the week progresses,” a Sotheby’s spokesperson told Business Insider.
The truck is the most powerful and fastest version of the Cybertruck, and its $99,990 price reflects that. The souped-up Cyberbeast has 845 horsepower and is said to go from 0 to 60 miles per hour in 2.6 seconds.
Sotheby’s lists the seller under the pseudonym ShibaInu – a nod to the crypto coin meme. They are auctioning the electric vehicle at no reserve, meaning there is no amount of money bidders must exceed for their bid to be considered.
Before the highly anticipated release of the Cybertruck, Tesla tried to deter flippers by adding a resale clause to its sales contract. The clause requires the owner of the Cybertruck to pay Tesla a $50,000 fee if they sell the vehicle within one year of delivery.
The Sotheby’s spokesperson assured that any resale agreement between Tesla and the original owner of the vehicle would have “no impact for our final buyer.”
At a previous auction, a dealer was able to auction off his Cybertruck to a Porsche dealership for $244,500, more than double the sticker price. However, in subsequent auctions conducted through vehicle wholesaler GiveMeTheVin, the electric vehicles were subject to lower bids, at just $171,000. GiveMeTheVin resold the trucks via a wholesale auction through Manheim.
If you don’t place the highest bid on this Cyberbeast, you can still reserve one for a refundable $250 deposit on Tesla’s website, but you may have to wait in line.
Tesla had made more than 2 million reservations before the vehicle’s release, according to an online tally.
Last month, Tesla announced that it would begin offering early Cybertruck delivery to long-term shareholders. Musk has said he aims to produce 250,000 Cybertrucks per year by 2025.
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