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Hagerty
Hagerty Employee

Rivian's R1T may eventually be collectible, but not quite yet

Whether or not you blanch at the idea of having a battery bigger than an interstate in your car, the era of the collectible electric car is quietly humming over the horizon. Even at the time of this writing, there are already a handful of low-production electric hypercars that appear purpose-built for the holo-projected catalog of RM Sotheby's 2040 Monterey sale.
https://www.hagerty.com/media/market-trends/hagerty-insider/rivians-r1t-may-eventually-be-collectibl...
24 REPLIES 24
CitationMan
Gearhead

I’m going to guess that today’s EVs won’t be collectible in the future because their current technology will be obsolete, rendering them useless. The future ads will say, “ran when parked with a good battery”.
Longroofjunkie
Instructor

Yeah, 0-60 in 2 or 3 seconds will be way too slow.

A first-generation Leaf is early tech. They are still in use, and used ones are pretty darn cost-effective, maybe $8000, though rather boring to most people. Good for commuting.

The current EVs are not like those.

The battery pack in a Tesla lasts 300-500,000 miles. Ditto the motors. You can poop on EVs all you want, but they aren’t going away.

Are 20-year-old Porsches parked and gathering dust? Are 20-year-old Audis? BMW 3-Series?

The Model 3 Performance is direct competition for the BMW M3 .

And the Model 3 in general has taken a lot of BMW 3 Series conquest sales. A lot.

Doesn’t sound like something that will be parked in a field somewhere, but you can always hope, I suppose.
Husky22
New Driver

As the owner of this amazing truck I can say that the markup wasn't almost double. MSRP doesn't include tax, title and license and $142,500 included the auction fees of $4,500 which doesn't go to the seller. Now I'm m not one to complain because it was still a 72% markup at the end of the day but the numbers are exaggerated for article hype.

The truck only arrived with a couple miles on it so roughly 100 miles were put on before the auction. These consisted of acceptance ride miles, a trip to the touchless car wash and round trip to the photo shoot location. Having in the driveway throughout the auction without being able to drive it or put any more miles on it after waiting for over 3 years was a painful process.

It's quite possibly my dream vehicle but the current market conditions and the fact that I now have 50% more children in my family than when I first reserved it, made me decide to take advantage of the auction process and get a slightly larger vehicle to fit everyone.
hyperv6
Racer

There will be collectibles and their will be forgotten.

But it will be 50 years from now and often the collectable cars are those not well received or popular in their time.

To be honest this truck may just be one on many trucks and not considered special once the others hit the market.

I would just buy one and drive it if you like it.
Longroofjunkie
Instructor

Agreed.
Do not buy it as an investment.
It’s not a Ferrari.

Drive it!
Tinkerah
Engineer

Ugh - that dash. It's a gaming console.
Longroofjunkie
Instructor

What new car isn’t, though?
Gary_Bechtold
Specialist

EV's will be collectible but obviously the all original part isn't going to work with these vehicles. The batteries will not last forever as opposed to your gas tank can live forever. The electronics and the software are an unknown how long they will last. Trying buying an ECU for an 80's car, multiply that by a billion in complexity here for any EV. Beyond that this is the beginning of EV cars and these will be of interest just like a Model-T is interesting to car collectors. I have no interest, but I'm only one person.
Longroofjunkie
Instructor

Gasoline engines don’t last forever. You rebuild/replace them.

Just like you will rebuild/replace batteries, after perhaps a half-Million miles.
Zephyr
Instructor

Why is there a giant hole right through the rear lower cab?
Sajeev
Community Manager

It's for extra storage or for a slide out cooktop with stove, fridge, etc. 

miata93
Advanced Driver

It reminds me of the golf bag compartment doors that were available on the 1929 Packard and the 1937 Cord automobiles.
Longroofjunkie
Instructor

It’s interesting to hear that.

Like so many “features” on new vehicles, they were often available quite some time ago.
superduty
Pit Crew

I don't see any BEV's being collectable. They have no soul and like their ICE contemporaries are full of technology that will become completely unsupportable and unrepairable with time. Today's interest and over inflated prices are about the novelty only.
Longroofjunkie
Instructor

Yeah, no.

No likee BEVs? No buy one. Problem solved.

Just like abortions.
acooper529
Advanced Driver

I know I can't be the first one to mention this but what about the recycling or disposal cost of these massive battery/ platform assemblies? Will the time come when the "older" battery liability could overshadow the residual value of a used EV? The batteries WILL weaken, fail and eventually "time out".
Compare it directly to the depreciation of an aircraft as the motor(s) approach the maximum recommended TBO hours.
The cheaper (older) EV models could, and probably will just get scraped.
Longroofjunkie
Instructor

They are already getting recycled, and that is increasing.

The battery for things like a Prius are down to around $1000 or so.

And BEV batteries typically last 300-500,000 miles. It’s just a matter of loss of miles of range, and when you want to replace it. They don’t “go dead.”

Does the *typical* ICE engine last that kind of time without a rebuild or replacement? Nope. So figure that cost into the equation.

I love my ICE vehicles, they likely aren’t going anywhere. But BEVs are the future, whether you like it or not.

The first-generation Tesla Roadster is already “collectible.”

If any other BEVs become collectible, it will likely be the early (and higher-performance) ones. Particularly if not many were produced.

If not recycled, the batteries can also be repurposed as storage batteries, because they have plenty of capacity left for that job.
ATLpaul
Detailer

It seems really right sized. Good back rows with enough room as opposed to Taco and Frontier that have very tight back rows, and overall a size smaller than ginormous F150 type trucks.
Longroofjunkie
Instructor

I agree, but keep in mind that the bed is tiny.

But most people never use their beds for anything significant anyways. They are driven as passenger vehicles.

I think the bed is about 4.5 feet in these, maybe?

Tacoma has 5 and 6.

I’m old, so I remember when a “short box” was 6.5 feet.

A regular box was 8 feet.

Because you could put 4’ x 8’ construction material in it, and close the tailgate.
WeisPanzer
Intermediate Driver

While the hyper-accelleration arms race is interesting, it is the hyper-electronics that may prevent any of these from becoming a classic. An iPhone 4, or 6, was TheBestThingEver... until it wasn't (and that was usually 12 or 18 months; 36 or 48 months later, it was a useless paperweight not worth trading in). An old black desk phone from 1982 will still do exactly what it was built to do, no additional cost incurred. Will any 25 year old EV be able to claim that in the year 2047, or will a 1985 Benz 300 Turbo diesel with 300K on the odometer be more reliable than a 2022 EV with 100K? Simplicity has its virtues...
Longroofjunkie
Instructor

First of all, that 300TD makes as much pollution as about 100 or more new cars. Just the soot alone is extremely toxic. It should be scrapped, sorry.

Second, old iPhones do exactly what they did when they were purchased. Just like computers. I usually keep a computer fir a decade or so. Absolutely no need to replace them frequently. Buying a new iPhone is due to keeping up with the Jonses or wanting the latest feature. It’s not obsolescence. It’s advertising and peer pressure. They are status symbols.

You live with only a 1982 desk phone?

Like a Princess?

Push-button or rotary?

We canceled our landline e years ago. The calls were about 97% robocalls, at that point.

And it cost about $50 per month for it to sit there.

I’m an old-school guy, I still have a car with a carburetor, but it’s foolish to not take advantage of at least some of the newer technology, in my opinion.
CitationMan
Gearhead

Not an apt comparison. Old phones tend to turn into bricks. Batteries don’t last, and sometimes because newer operating system are not available on an old phone, you cannot access apps. An old phone you depend on isn’t worth the trouble many times.

Old EVs will have the same fate as old phones.

Longroofjunkie
Instructor

Fanboi much? Cripes.

Virtually none of that hyperbole is true.

And I like the truck.

No way does it do 0-60 in 3.5, on gravel.
Absolutely impossible.
You have hook up from the start, and stay that way. You can’t change the Laws of Physics.

It also doesn’t handle like a Cayenne. Not even close.

It doesn’t ride like an E-Class. Nope.

It’s not selling for over list because it’s going to be “collectible,” but because people want to jump the 2-3 year line. And that truck now costs about $95,000 so they are are $30,000 over MSRP. And the price of a new one may increase again, who knows? They also may go out of business.

And then we could discuss whether they will just be orphans, or collectible. You could argue either way.

These are now selling for $125,000 on Cars and Bids. Soon that number will be lower. It’s obviously dropped some already.

The stupid Hummers are selling for about $275,000 which is completely nuts. Insane.

That’s $160,000 over MSRP.

That definitely won’t last.

So a little reality check is in order here.

And my son is just about to take delivery of his Rivian. He ordered it 2.5 years ago.

Supposedly they have also delivered a few of the SUVs. Can’t verify that, though.





hyperv6
Racer

This truck in 5 years also could be a faded memory. 

There is going to be a ton of competition out there and many with much more scale. 

Like in the early days of the ICE car there will be many failures of some good and not so good EV vehicles.