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Arachnid Wheels - How much to ask for them?

Discussion in 'Model S' started by Firewired, Jan 19, 2017.

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  1. Firewired

    Firewired Member

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    I really wanted the Arachnid wheels when they became an option from the referral program. I selected the dark grey ones, when I got enough referrals and was able to select. I just got notified from my local service center that they had come in. I am trying to decide if I should keep them or consider selling them for the right price. What do you all think would be a realistic price to list them for?

    Thanks for the advice.
     
  2. cgiGuy

    cgiGuy Active Member

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    This has been discussed in a few other threads, but the general consensus has been that until we know what type of value Tesla will put on the tax form, it's hard to say. If they put the retail value that was listed on their store (briefly) of like $8K, you'd need to factor in what that is going to cost you in your tax bracket when you file.
     
  3. sorka

    sorka Active Member

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    What are non gift prizes as taxed as? Capital gains? Ordinary income? If the latter, those $8K valued prizes would cost me about $4K in taxes. I'd just decline the prize. I doubt I could sell them for enough to cover the taxes. If short term capital gains, then that's another story, but I suspect it's not that.
     
  4. MorrisonHiker

    MorrisonHiker S 90D 2017.34 2448cfc

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    Remember that just because they might send a 1099 stating $8000 in value, it doesn't mean that they are really worth $8000. You can adjust the actual taxable value on your tax return. If you are only able to sell them for $5000, then you could claim that their actual value was $5000.

    Several years ago I won a 52" LCD TV from NewEgg. In the contest, they put a value of the prize at $2500. I received the TV and then the following year, I received the 1099. The 1099 that NewEgg sent claimed the prize value was $2500. I kept track of the price of the TV throughout the year and know it was only $1900 when I won it...and $1500 when I actually received it several months later. When filing my taxes, I claimed the actual value of the prize was only $1500 and only had to pay taxes on that amount.
     
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  5. hmmm

    hmmm Member

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  6. HankLloydRight

    HankLloydRight Fluxing

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    Pretty much what @MorrisonHiker said.

    We just don't know how it will play out. If we find someone on TMC that sold a set for $2000, I think that's a valid Fair Market Value we could use to adjust the value on the 1099, whatever that might be, and if we even get one.
     
  7. Zaphod

    Zaphod Galaxy President (former)

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    I will offer $500. Think of it as me looking out for limiting your tax burden. :D
     
  8. skilly

    skilly Member

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    No offense. I understand that beauty is in the eye of the beholder but, 8K for a cast wheel? Thats a whole other topic...Honestly, lighting hundred dollar bills on fire seems like a close second.even the tax burden seems not worth it. My guess is that the fair market is at best $2K.
     
  9. Zaphod

    Zaphod Galaxy President (former)

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    They are stated to be forged, but not sure if that is true or not. They are a referral program prize.
     
  10. MorrisonHiker

    MorrisonHiker S 90D 2017.34 2448cfc

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    Regular 21" tire and wheel sets sell for $6000 on Tesla's site. 19" tire and wheel sets are $2500. I see people selling used/like new 19" Slipstreams for $1500 to $2000 on TMC so I'm thinking the exclusive 21" Arachnids are worth more than $2k, especially since they are forged. Someone offered me $3000. At that price, I would just keep them and use them myself.
     
  11. HankLloydRight

    HankLloydRight Fluxing

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    Also, these wheels include new tires, TPMS and installation. So there's plenty of additional value there.
     
  12. hmmm

    hmmm Member

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    Yes, what I meant was that, from memory, the "going rate" for private sales on here was in the $4k-$5k range (not accounting for the tax implications). I found the thread I had in mind, from late last year:

    Won a set of Arachnid wheels! Will be selling...
     
  13. calisnow

    calisnow Active Member

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    When you decide on a price let me know. If it is reasonable I am very interested in purchasing them - I like the design.
     
  14. NikeWings

    NikeWings Active Member

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    Very good looking, I love them.........and hope to see you buzzing by with them.;)
     
  15. hmmm

    hmmm Member

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