- A souped-up Tesla Cyberbeast is up for auction on Sotheby's Motorsport.
- Bids for the Cybertruck have climbed to $250,000.
The public auction of Tesla's bulked-up Cyberbeast truck is ending soon.
A Foundation series Cyberbeast is up for auction at Sotheby's Motorsport, and the window to place a bid is only hours away from closing. Those who want to skip the line of car buffs hoping to own one can submit an offer but will be paying far more than Tesla is charging.
Bids for the Cyberbeast started at $75,000 — closer to the price of an all-wheel drive Cybertruck — last Tuesday morning and hit over $90,000 within hours.
A week later, bids are topping out at $250,000 during the final hours of the auction.
"We have seen strong activity on the auction in its first few hours and anticipate a frothy bidding pool as the week goes on," a Sotheby's spokesperson told Business Insider.
The truck is the most powerful and speedy version of the Cybertruck, and its $99,990 price tag 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 meme crypto coin. They're auctioning the EV at no reserve, meaning there's no amount of money the bidders must surpass for their offer to be considered.
Ahead of the Cybertruck's highly anticipated release, Tesla attempted to deter flippers by adding a resale clause to its sales agreement. The clause requires the Cybertruck owner to pay Tesla a $50,000 fee if they sell the vehicle within a year of receiving delivery of it.
The Sotheby's spokesperson assured that any resale agreement between Tesla and the original owner of the vehicle will have "no impact for our ultimate buyer."
In a previous auction, one reseller was able to auction off their Cybertruck to a Porsche dealer for $244,500 — more than double the sticker price. However, subsequent auctions conducted through vehicle wholesaler GiveMeTheVin saw the EVs going for lesser bids as low as $171,000. GiveMeTheVin resold the trucks via a wholesale auction through Manheim.
If you don't place the top bid on this Cyberbeast, you can still reserve one for a refundable $250 deposit on the Tesla website, but you might have to wait in line.
Tesla had over 2 million reservations ahead of the vehicle's release, according to an online tally.
Last month, Tesla said it would begin offering early Cybertruck delivery for long-term shareholders. Musk has said he aims to produce 250,000 Cybertrucks a year by 2025.