Any Market for Tesla Powerwall?

[efusco]

Just got my survey for my Tesla Powerwall referral reward. Have planned to install it onto my solar equipt home, but I already have a propane generator and would really need at least one more Powerwall (likely 2 more) to fully power the house for any reasonable length of time and I'm not interested in spending the money to get the extra Powerwalls.

So, I've been toying with just selling my referral Powerwall instead. Maybe use some of the funds to pay for the powerboost in my Model 3, invest the rest or use it toward debt...whatever.

But, is there a market for these. Initial google search didn't turn up anything obvious. What are they going for? How much is it to ship elsewhere (I'd first try to redirect the shipping from Tesla, of course)?

 

[HankLloydRight]

There are several people here trying to sell their referral PW2s, including me.

I had an offer for $3700 which I rejected as laughable. The current value of the award, including the $1000 install credit, is $8,600.
Keep in mind that Tesla will require you to submit a W-9 to (ostensibly, someday) send you a 1099 for the value of the award.

Redirecting shipping is the best idea, since the PW2 itself weighs 250 pounds -- well outside of normal FedEx or UPS shipping rates that have 70 pound maximums. At 250 pounds, you're talking freight rates. Tesla uses a special powered hand/lift truck and two people to move these around.

 

[JPELKA]

I got 4k for ya pending you can redirect.

 

[efusco]

There are several people here trying to sell their referral PW2s, including me.

I had an offer for $3700 which I rejected as laughable. The current value of the award, including the $1000 install credit, is $8,600.
Keep in mind that Tesla will require you to submit a W-9 to (ostensibly, someday) send you a 1099 for the value of the award.

Redirecting shipping is the best idea, since the PW2 itself weighs 250 pounds -- well outside of normal FedEx or UPS shipping rates that have 70 pound maximums. At 250 pounds, you're talking freight rates. Tesla uses a special powered hand/lift truck and two people to move these around.

Wow, yeah, I probably won't bother trying to sell mine then. Thanks so much for the feedback. I'll offer you $3750..... ;-)

 

[efusco]

I got 4k for ya pending you can redirect.

Figured if I could clear $5000 I would sell. Given the post before yours I think I'll just hang onto mine.

 

[bkp_duke]

There are several people here trying to sell their referral PW2s, including me.

I had an offer for $3700 which I rejected as laughable. The current value of the award, including the $1000 install credit, is $8,600.
Keep in mind that Tesla will require you to submit a W-9 to (ostensibly, someday) send you a 1099 for the value of the award.

Redirecting shipping is the best idea, since the PW2 itself weighs 250 pounds -- well outside of normal FedEx or UPS shipping rates that have 70 pound maximums. At 250 pounds, you're talking freight rates. Tesla uses a special powered hand/lift truck and two people to move these around.

$3700 seems to be a reasonable offer, given the possible/probably tax implications. I paid less than that for the one I bought, and I know another forum member that paid less than that as well.

Someone chime in if they paid more.

 

[jimbo69ny]

$3700 seems to be a reasonable offer, given the possible/probably tax implications. I paid less than that for the one I bought, and I know another forum member that paid less than that as well.

Someone chime in if they paid more.

I agree. I don’t see the real value in it. It’s 12kw. You can get much larger batteries.

 

[ra88it]

Yeah, they seem to have randomly jumped up in pricing the last few weeks. I’d be interested in it with the old pricing, like... 4wks ago pricing. I’ve got a use for a single and TEG.

 

[mjptech]

Yeah, just like the wall chargers... Going high.

For the referral winners that are saying they won't accept the reasonable 3500-4000ish offers:

7k + 1099 responsibility by the recipient + around 2k for the installation (after the 1k credit) brings it to be higher than what you can buy from Tesla directly (and get the tax credit). Even 5k is pushing it (at that point, unless you want it red,f get it from Tesla instead). Just like the seller that sold his free Y a few days ago, there are people that pay above what they should go for, and then these become the normal asking rates at that point forward. Some people with extra money ruin it for the rest of us.

 

[HankLloydRight]

$3700 seems to be a reasonable offer, given the possible/probably tax implications.

7k + 1099 responsibility by the recipient

With the latest development with Tesla simply shipping the PW2s to the referral winner and arranging their own installation, the tax liability falls completely on the seller, not the buyer. Which is why the $4k price is well below value for an $8600 PW2+Gateway+$1000 install credit.

And the buyer is still perfectly eligible for the tax credit (assuming they are eligible in the first place).

Figured if I could clear $5000 I would sell.

To clear $5k after taxes (assuming a 25% effective tax rate), you'd have to sell for about $7k. Which is still a good deal for the buyer, because that also includes a $1000 install credit. So they're paying $6000 for $7600 of value. Who doesn't want to save $1600 for doing essentially nothing?

That said, I'd sell my Red Founders PW for delivery to your location for $6k. Saving you $2600 over buying from Tesla directly.

 

[ra88it]

With the latest development with Tesla simply shipping the PW2s to the referral winner and arranging their own installation, the tax liability falls completely on the seller, not the buyer. Which is why the $4k price is well below value for an $8600 PW2+Gateway+$1000 install credit.

And the buyer is still perfectly eligible for the tax credit (assuming they are eligible in the first place).



To clear $5k after taxes (assuming a 25% effective tax rate), you'd have to sell for about $7k. Which is still a good deal for the buyer, because that also includes a $1000 install credit. So they're paying $6000 for $7600 of value. Who doesn't want to save $1600 for doing essentially nothing?

That said, I'd sell my Red Founders PW for delivery to your location for $6k. Saving you $2600 over buying from Tesla directly.

You can’t buy a red PW from T directly, I tried to buy 5.

I don’t know where everyone is getting this magical 7600+1000 credit... Tesla and their authorized installers are landing them on walls for 6.4k(TEG included for the first 1-10).

I have a contract reflecting this.

I take no issue with a winner of a referral selling it, been there... done that, bought the T-shirt. To the Y seller, hell yes! Congrats on that one and it’s quick sale!

a powerwall isn’t exclusive, isn’t special, isn’t sold out, fair market value was determined long before I chimed in, look at others and their vouched sales/purchases.

 

[Shadious]

$3700 seems to be a reasonable offer, given the possible/probably tax implications. I paid less than that for the one I bought, and I know another forum member that paid less than that as well.

Someone chime in if they paid more.

I bought a pair for a bit less than $3700 each. Considering I could be on the hook for $4K in taxes, I feel it was a fair deal.

 

[HankLloydRight]

I don’t know where everyone is getting this magical 7600+1000 credit..

Right here there on the Tesla website: $7600 for hardware, $1k for installaton= $8,600

Tesla and their authorized installers are landing them on walls for 6.4k(TEG included for the first 1-10).

I have a contract reflecting this.

Well, good for you, then. If people want to go down that road, it's a free country. As with most things, I'm sure there's "more to this story" that you're not disclosing (like volume discounts with solar or other combo deals) and that not everyone will be able to get the same kind of deal.

I bought a pair for a bit less than $3700 each. Considering I could be on the hook for $4K in taxes, I feel it was a fair deal.

Exactly. $3,700+$2,000 liability= $5,700 which is pretty close to my asking price, without the tax liability. That's a fair deal.

Edit: For the record, I've already help sell 4 Red Founder's PW2 awards for $4k each, buyer assuming tax liability. I've also been able to convert 3 PW2 awards into credit for a Model 3 for $5500 each, with no tax liability (that was two years ago).

 

[macbeth]

If anyone is looking to sell their referral PowerWall's, I am in the market for 2 more units. I have two that I have already purchased, the first was $3,500, the second was $3,750, in both instances, the person with the referral award was able to quickly work with Tesla to confirm the transfer to myself, and Tesla was able to work with me to provide shipping and installation.

I am open to purchasing 2 more PowerWall's for similar prices if anyone is interested in selling to someone that is comfortable with the process.

 

[HankLloydRight]

If anyone is looking to sell their referral PowerWall's, I am in the market for 2 more units. I have two that I have already purchased, the first was $3,500, the second was $3,750, in both instances, the person with the referral award was able to quickly work with Tesla to confirm the transfer to myself, and Tesla was able to work with me to provide shipping and installation.

I am open to purchasing 2 more PowerWall's for similar prices if anyone is interested in selling to someone that is comfortable with the process.

As already mentioned, the price depends on who's on the hook for the taxes. I already helped sell 4@4k each, but the buyer was liable for the taxes.

 

[riles246]

As already mentioned, the price depends on who's on the hook for the taxes. I already helped sell 4@4k each, but the buyer was liable for the taxes.

Unless there was a clause in the contract that the buyer will reimburse seller for the taxes that seller is assessed, I highly doubt that the buyer was actually liable for the taxes. Even if the buyer gets a 1099, the true transaction was that the buyer paid $16k for something that was worth $16k ("market value" has no bearing; the US tax system has no concept of bargain purchases). Seller received $16k for something that seller had no basis in (regardless of 1099). Eve

So, on audit, the buyer has no tax liability and the seller has $16k or more of taxable income. 1099s are just information reporting; they don't make conclusion on tax due. Now, sellers and buyers are probably just filing their taxes incorrectly and on these amounts, unlikely to be audited. But that doesn't mean it's the right answer.

That said, I agree that given all the uncertainty and hassle in these transfer transactions compared to buying straight from Tesla, these things are likely worth something in the $3k-$4k territory and not $5k/$6k.

 

[HankLloydRight]

Unless there was a clause in the contract that the buyer will reimburse seller for the taxes that seller is assessed,

So, on audit, the buyer has no tax liability and the seller has $16k of taxable income.

1099s are just information reporting; they don't determine who pays tax.

Yes, "on audit". Try to talk the IRS out of the tax liability you received via a 1099, and they'll tell you to go back to the source and get a corrected 1099 (and even file an amended tax return if necessary). And good luck getting Tesla to do that -- that would never happen. So in absence of a corrected 1099, you are liable for the tax on that income (whether it's valid or not).

We can argue tax code theory all day long, but the bottom line is that someone is paying the tax, and that's whoever gets the 1099 (whether it's correct or not, the IRS wants their cut). But in reality here, I don't think any buyer getting a 1099 is going to intentionally open an audit or examination of their taxes to make sure the seller pays the tax. The PW2 deal is simple: If the seller pays the tax, the sale price is higher for the buyer. If the buyer is going to get the 1099, the price is lower. And no seller is going to sell for $3,500 AND be liable for $2k in taxes.

 

[efusco]

Given all of the above, I think I'll just keep my PW and have it installed.

 

[HankLloydRight]

Given all of the above, I think I'll just keep my PW and have it installed.

And mine's still for sale. $6k delivered includes $1000 install credit (so net $5k and no buyer tax liability).

I had one installed already, and don't need a second one.

 

[patrick40363]

Given all of the above, I think I'll just keep my PW and have it installed.

Good idea. I was lucky and had mine installed last year.

Just watched a true crime show that occurred in your town.