Marked up resale model 3s showing up on eBay

[cartwright]

I don't get the hate. Circumstances change and the market is there, nothing wrong with taking advantage of it.

I could have configured 2 weeks ago but haven't yet because I'm not sure I want the M3 yet. I purchased an S and am still enjoying it, my wife doesn't need a new car yet. That said, I did put a deposit down and place the reservation day 1. I might get it, enjoy it for a bit and sell it before the market cools. That way I get the experience and get my money back and maybe a little more. And someone who doesn't want to wait gets the car right away, but with a few miles on it. Seems like a fair deal.

I'm also not sure it is worth the hassle, so still haven't decided...

 

[GoTslaGo]

Dumb question.

If someone flips their Model 3 is somewhat honest and doesn’t claim the 7500 tax credit, does that mean that the credit extends out just a bit longer?

 

[gregincal]

Interesting to see if any sell (none have bids so far).

Dumb question.

If someone flips their Model 3 is somewhat honest and doesn’t claim the 7500 tax credit, does that mean that the credit extends out just a bit longer?

Nope. The credit is just wasted. Phaseout start is based on number of US vehicles sold, not number of credits claimed, and the actual phaseouts are on a quarter basis.

 

[Timo]

Bitter much? There is no exploitation of the system here. Everyone paid the same $1000 deposit using the same exact methods by either waiting in person or reserving online. Reason of purchase and what they decide to do with their commodity is completely irrelevant.

That’s how the economy works, small businesses look for opportunities to buy product cheap and in bulk and sell at markup, stocks are issued with the intent of growth and sold at profit, investors short stocks with intent to profit. You buy a house in a hot market looking to ride the rising value to make a profit on the new equity.

Can there be exploitation of intent? Why is Musk offering 3 deliveries to previous owners ahead of non-owners? Is it so they can turn a dandy profit? Yes, its to reward the faithful, although if you argue Musk doesn't care, I think you're being disingenuous.

100% right on the "market, economy, legality, etc"- we got it. What it really comes down to (for me) is selfishness. Before you think I'm getting high and mighty, if I was in position to get a 3 to flip etc, I would have to think long and hard about if my warm & fuzzy feeling for passing the chance would outweigh 10k. If I could make 10k, that's a lot of money, yes, I'd likely flip too. If I had intent to own the car, that's one thing, but with no intent, that's selfish.

Ultimately none of this is a big deal. People are selfish all the time. So why am I writing about this? Because what really rubs me the wrong way about this thread is that people are willing to spend time championing selfishness, simply because the method is legal and sound. It just has an unattractive ring to it. It has nothing to do with savvy business practice. I'm not bitter, its the taste being left by this thread.

 

[GoTslaGo]

Interesting to see if any sell (none have bids so far).


Nope. The credit is just wasted. Phaseout start is based on number of US vehicles sold, not number of credits claimed, and the actual phaseouts are on a quarter basis.

Thanks!

 

[EVNow]

I don't get the hate. Circumstances change and the market is there, nothing wrong with taking advantage of it.

If Apple lets employees buy their phones first (months earlier) and flip on ebay, I'm sure a lot of people will crib. Same for Microsoft & X-Box or Sony & PS4.

As a former employee of one of those above - I can even tell you - that the company prohibited us from selling what we buy directly from the company for a profit.

 

[cartwright]

If Apple lets employees buy their phones first (months earlier) and flip on ebay, I'm sure a lot of people will crib. Same for Microsoft & X-Box or Sony & PS4.

As a former employee of one of those above - I can even tell you - that the company prohibited us from selling what we buy directly from the company for a profit.

This presumes the ones on eBay are employee cars. I'd guess they are mostly non-employee owners, as employees probably had such a clause.

 

[Pinot.Noir]

Mine’s not even THAT bad really, it’s just aggravating because I know it could be so much better

Dude, I have been dealing with Livermore to Oakland and back for 25 years, and your commute is not as bad?

Fortunately I retire on April 27....so no more commuting for me!

 

[luvnMyTS]

Looks like the Must Have Now factor has already worn off. per E-bay, the first few sold in the mid $70,000 up to the low $80,000 range. The last few have sold just barely over cost at $65,000 or less. Seems like there were a very limited number of people that had to have it on the first day and were willing to pay $20,000 over cost, but they are long gone apparently. Where there was once only one or two Model 3's on E-bay for sale, there are now 15+. So for anyone that purchased it thinking they were going to make a huge profit, looks like that opportunity has passed. The remaining buyers out there likely realized for $20,000 over the price of the Model 3, they can get the far superior Model S or Model X.

So for all those that were so offended and bent out of shape by people making a profit off of the car, you can all rest easy now.

 

[FlatSix911]

This one just sold for a bit less than $65K ... only a $15K premium
2017 Tesla MODEL 3 Premium Long Range | eBay

 

[C141medic]

I wouldn't be surprised if these get snapped up by:
1) Other automakers looking to reverse engineer
2) Wealthy buyers looking for a car almost no one else has yet, especially overseas. Sure you can drop 125k on a fully loaded S or X but at the moment, the Model 3 is a much more exclusive club.

I agree that folks should do what they want with the cars. Drive the hell out of it, keep in in a garage in pristine condition and never drive it, race it on the track, crash it, flip it for a profit...why should we care/judge how someone chooses to use their property as long as it is legal?

Totally agree. As long as they’re not able to purchase more than 2 I’m okay with the fact that they want to flip/resell, etc. at a profit. This is different than the robo buyers who purchase hundreds or thousands of a popular toy during the holidays and mark their resale prices up considerably.

 

[Pinot.Noir]

This one just sold for a bit less than $65K ... only a $15K premium
2017 Tesla MODEL 3 Premium Long Range | eBay

That's a $7k premium, not $15k. Hope the original buyer doesn't commit tax fraud! Did somebody say there was a bonus for reporting somebody to the IRS? Make it worth my while to do some sleuthing.

 

[FlatSix911]

That's a $7k premium, not $15k. Hope the original buyer doesn't commit tax fraud! Did somebody say there was a bonus for reporting somebody to the IRS? Make it worth my while to do some sleuthing.

You have to read the fine print from the eBay listing ...
Buyer is responsible for registration taxes and fees of the State or Country it will be registered. Buyer is Responsible for any shipping, handling and insurance expenses. Not eligible for California or Federal tax rebates.

 

[Esme Es Mejor]

There are concerts that sell out within a millisecond of going on sale on line because scalpers have developed bots just for that purpose. This is what scum do. It's not illegal. Plenty of scummy activities are not illegal. Some artists are experimenting with ways to prevent this.

If artists didn’t want scalping, they could use resale bans. Just like airline tickets can’t be re-sold. Just like Tesla makes reservations non-transferable.

But most artists benefit from scalping. They get a guaranteed fee from a venue that’s higher than the face value of tickets. The venue can afford this fee because they sell tickets directly to scalpers for higher than face value. Scalpers then sell these to fans for market value.

Artists get the good PR of quick sellouts and cheap face value tickets while reaping the revenue of scalped (market value) tickets. Scalpers aren’t parasites— they perform a service for the artists: fan anger over high prices is directed at scalpers instead of artists. And scalpers are paid well for this service.

Why Is the Live-Event Ticket Market So Screwed Up? - Freakonomics

 

[fr100]

2018 Tesla Model 3 Premium | eBay $56,400 reserve not met

 

[fr100]

2017 Tesla Model 3 Premium | eBay $59,600 sold

 

[daniel]

That's a $7k premium, not $15k. Hope the original buyer doesn't commit tax fraud! Did somebody say there was a bonus for reporting somebody to the IRS? Make it worth my while to do some sleuthing.

You have to read the fine print from the eBay listing ...
Buyer is responsible for registration taxes and fees of the State or Country it will be registered. Buyer is Responsible for any shipping, handling and insurance expenses. Not eligible for California or Federal tax rebates.

Your underlined sentence at the end is just telling the second buyer that he cannot claim those tax credits. We don't know if the original buyer is going to claim them or not. It's no skin off my nose either way. If he claims them and is caught by the IRS they'll make him a very unhappy person. In the grand scheme of all the tax cheating and finagling and industry lobbying for loopholes and exemptions, one person claiming an undeserved tax credit on a car is very small potatoes. I'm far more concerned about a thousand other issues, the mere mention of which would get this post moved to the quarantine thread.

 

[SolarUnderwood]

I don't think anyone imagined the immediate resale market for the Model 3 would be this prolific. After following a few ebay listings and reviewing the sold listings it looks like the prices are coming down due to over saturation. I think there are quite a bit more people that expected to flip their Model 3 and I suspect many of them will reconsider after seeing this voluminous resale market and that should help us waiting in line.

 

[Moderatefan]

That's a $7k premium, not $15k. Hope the original buyer doesn't commit tax fraud! Did somebody say there was a bonus for reporting somebody to the IRS? Make it worth my while to do some sleuthing.

How is that $7k? Seller paid $57.5k for the car itself plus taxes and registration (I assume, since it has 250 miles).
That's hardly anything. Hopefully, pretty soon there will be no incentive to flip M3s. Also, it feels that that the sporty/bumpy ride does not sit well with many and there will be more M3 sold and then less reservations claimed. I'm not so sure this is a good trend though.

 

[brucet999]

If you were an appraiser you'd be ruled incompetent. …the sale price of a home almost never equals the asking price.

I didn't even need to see your member info to know that you aren't from California.