People Are Flipping The Model X Like Crazy On Craigslist: Is The Model 3 Next?

Editorial

This could be the best $1,000 investment you ever make.

The Tesla Model 3 came out about a week ago and has been dominating the news ever since. We’ve covered the car extensively on CarBuzz, focusing especially on the amount of pre-orders taken. Over 325,000 people have put down a refundable $1,000 deposit on the speedy and compact electric sedan. These numbers are simply astounding, proving that Tesla may survive in the long run after all. However, how many people actually want to buy a Model 3 and how many see the car as an investment?

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Or to put it another way, who is putting down $1,000 so that they can flip their Model 3 for much more than the $35,000-$42,000 (the base price and the average price of the Model 3s ordered)? If the Model X is any indication, then a lot of people. The gull-winged SUV barely started rolling off the line a few weeks ago. But that hasn’t stopped a few savvy owners from putting the SUV up for sale on Craigslist. The idea is simple: People are paying a premium to cut the line. This makes the Model X, and potentially the Model 3, one of the easiest cars ever to flip for a profit. If you don’t believe this is happening just do a quick search on Craigslist.

Here’s a gorgeous Model X P90D—the first ones off the line are all 90Ds—and it’s the top-tier spec, meaning it has the Ludicrous Speed Upgrade. With just 475 miles on the odometer it’s a mystery as to why this owner is selling. (No it’s not.) The first “normal” Model X retails for $132,000 while the Founder Series checks in at $142,000. That’s a tidy profit no matter what. A lot of other people are content to sell cars they have configured but not yet taken delivery of. Here’s one listed for sale at $145,000. Note the no photos and info. This one is listed at $180,000 with the owner having likely just taken delivery; pickup was said to be March 17th to March 31st. The only good deal seems to be this “chump” who is selling a Model X P90D with 142 miles on it for $139,000.

The likelihood of the Model 3 being flipped as quickly and ruthlessly as the Model X is high. The only way to really offset this is upping production. Tesla wants to deliver 500,000 cars per year by 2020 but its goal for 2016 is more conservative, with a target of 80,000-90,000 Model S and Model Xs (combined) delivered. The automaker will likely cross the 500,000 pre-order mark soon. All of these deposits are refundable and some people may very well get sick of waiting and pull their cash out. Those who stay patient could make a nice profit. Rich people, take note. Stop buying and flipping rare supercars. Instead, just place 100 orders for the Model 3 and watch the cash roll in the day you finally take delivery…provided you aren’t at the back of the line, of course.

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