2024 Tesla Cybertruck To Fetch Seven Figures At Petersen Museum Auction

Oct. 02, 2023 5:14 PM ET by Sebastian Cenizo Auctions / 2 Comments

People are willing to spend big bucks on early releases a new vehicle.

The Petersen Automotive Museum will be hosting its Gala Live Auction this week, and one of the stars of the show will be a very early example of the Tesla Cybertruck in production form. According to the email invitations sent out, the winning bidder will be one of the very first to own the futuristic pickup but not the very first. Instead, a "low-VIN 2024 Tesla Cybertruck" will be up for grabs, and given the hype surrounding this vehicle, it should still be a very popular listing. In fact, some estimate that this early production model could reach the heights set by other all-new vehicles auctioned off by legacy automakers in recent years. Let's look back at some examples.

The Petersen Auto Museum is auctioning off a 2024 Cybertruck at their Annual Gala ?????? pic.twitter.com/W7XPUJt7jR
— danielle x (@lovemesomemusk) September 30, 2023

The very first example of the C8 Chevrolet Corvette E-Ray attracted a million dollars, and its Z06 sibling attracted more than three times as much. Looking at electric vehicles, the first production Hummer EV Pickup returned some $2.5 million for charity. Will the Cybertruck be just as well received? A little more than a year ago, Tesla had well over a million preorders, but since then, the truck has been hit with more and more delays, which has slowed the hype train somewhat.

Still, those who attend will be flush with cash. A single seat at the gala will run you $1,750, while a table will cost $17,500. Opt for a Premier Table, and the bill rises to $30,000. Going some way to justifying this cost is that Jay Leno will be hosting the event.

More important than what an early Cybertruck sells for is what this event means for the rest of those eagerly waiting to get behind the unconventional steering wheel. Promises of production initiation have been made time and time again, only to be dashed by quality issues and other challenges. But now that the truck will become available to a member of the public very soon, it seems that the wait may finally be coming to an end. That being said, it's unclear if the winning bidder will take delivery immediately, so reservation holders shouldn't get their hopes up too much.