Bitcoin Forum

04-02-2013 Update - SOLD For ~300 Bitcoins!


The Porsche sold today for ~300 Bitcoins! If this isn't proof that Bitcoin is a legitimate currency, then I don't know what is. The buyer purchased his initial Bitcoin investment at around $4 a piece so they got an amazing deal. I'm not sure if this is the single largest item sold for BTC, but I can guarantee it's the first $40,000 vehicle sold for ~300 BTC. The buyer wishes to remain anonymous, but I've asked a bitpay representative to come and post in this thread to confirm the transaction occurred.

Help me spread the word, upvote the story on reddit:
http://www.reddit.com/tb/1bkhjp

Submit to as many news agencies as you please, Bitcoin is here to stay!

This story got a lot of attention in the media yesterday(04/03/2013), and was the hottest story on business insider throughout the day. I'm hoping it's given doubters an idea of what they can buy with Bitcoin. It's also obvious from the article comments that a majority of people still don't understand what Bitcoin really is or how it works.


Articles featuring the Porsche Sale:

http://www.businessinsider.com/texas-family-we-sold-this-porsche-last-night-for-300-bitcoins-2013-4

http://www.huffingtonpost.com/mobileweb/2013/04/03/bitcoins-bubble-porsche_n_3009313.html

http://www.digitaltrends.com/cars/texas-family-sells-porsche-for-300-bitcoins/

http://www.businessinsider.com/interview-bitpay-founder-tony-gallippi-2013-4



https://i.imgur.com/wADS7Un.jpg

Only 8200 miles and in impeccable condition!

Addons and Options

• 19" Champion Motosport Forged Monolite Wheels -- R-S98 (ala Turbo) ( Wheels were $8k alone! )
• B & B Stainless Exhaust System
• Eibach Pro-Kit Suspension System
• IPD Air Intake Plenum
• TIPS-auto
• Leather Seats
• Bose/CD Changer
• Wrapped in 3M protection
• Paint protection
• Custom cover for outdoor storage
• Tint
• New battery
• Mobile1

This car is equipped to outperform the current Cayman S release. 10 times more fun than a minirig! Buy it while the value of Bitcoin is high!

https://i.imgur.com/Qiodk1E.jpg

Thank you sir, and this price is a real steal. Assuming someone purchased 1600 bitcoins at the original exchange rate of around .0007639, they could be sitting in this Porsche for a whopping $1.22!

Going to put my salesman hat on and say that I guarantee I can sell this car for you. I'm in the "online automotive marketing" industry and I know exactly what it would take to sell this car.

Note: The buyer would obviously have cash. lol.

/salesman off.

Looks good. Wow.

Thats crazy indeed if  you think about it. :)

That's a good price!

Wow nice car ..ill wait to buy it from U Jan 2014 for 156,41btc when the price rise has continued haha ,,,

For transfer of the title, would the seller have to include a bill of sale for say $1 or something?  Just curious.

Wow, that's a really good price.
In Portugal you can't find that car for less than 40,000€ ($53,000)

18,900€ in italy: http://suchen.mobile.de/auto-inserat/porsche-cayman-3-4-s-18-900-torino/174270773.html

EDIT: of course this one has 184000 kilometers and the price might be a bait.

If only I had that many BTC's... even if I had kept every one of them I have ever received, I still would have less than half, lol.

Gotta wait for the price to rise more...!

Awesome car. IIRC it was voted "Best handling car in the world" a couple years back by some euro car mag, beating out Lotus's Exige.

If only I had the foresight to keep every coin I've ever mined. When the exchange rate went down to 2, I was still selling half of what I mined. The rate is so volatile right now, who knows what it will be next week or next month. Could be back down to 15 or way above 50... All I know is, if you've got a substantial amount of coins right now, there's a very good chance you bought or mined them at a much lower exchange rate. So this is a great deal regardless!


Yes, we're going to have to do something like this. Although I'm also thinking we may be able to use bitpay and a receipt from them to transfer the title.

I'm also willing to sell for cash, but wouldn't you guys like to see the first supercar-bitcoin transaction?

Don't use bitpay - you'd be knocking yourself for 16 BTC (0.99% fee) if you do.

Good for you, I love seeing people post things like cars and even real estate, you're helping to make BTC commerce legitimate trade!

Man, a year ago, that same car would have been listed for ~9000 BTC... at this rate, I'll be able to buy myself a Cayman in 3 years!

That is one sexy looking Cayman. These are possibly the best wheels you could have put on it.



Insane.

+1 quoted for posterity  :)

So why the low miles?  Why didn't you drive it more?

First off, it's not actually mine, it's my father's. He listed it recently on Craigslist, along with the Harley, and asked me to list them both on the bitcoin forums for him. He's really excited about the prospect of selling for BTC and I hope someone here picks them up.

Back to your question. My Father is notorious for buying nice cars and never driving them. I'm guessing he's scared to get any scratches on the vehicle and just enjoys looking at the car and calling it his own... He lives in downtown Austin so he doesn't need to drive around much anyways. I tease him because he's basically keeping his vehicles in great shape so the next buyer can get a good deal on a barely used sports car.

Yeah, seems like it!  I appreciate that he's willing to sell for BTC, even if I can't buy it myself.  :)

First Porsche bought with internet hacker currency would make nice news. I'm sure it would make a line in quite a few articles. Press loves shit like this.

I blew my 1500 on a slice a few years back

I have thought about that, but I'll wait for better bitcoin price.
And I have changed my mind for 911 version.
I'll have to wait a long time due to:
https://bitcointalk.org/index.php?topic=125394.0


Why did you take Cayman, is it price or what?
I'm going to take test drive next week Cayman and 911, but I Have read that 911 is stronger and Cayman is easier to drive with?

Cayman advantage is that you have an excuse not to take mother-in-law because of lack of backseat.
:)

I'm fairly certain my mother-in-law would never want to ride with me again after taking a ride in a Cayman with me.  :D

haha.. early adopter envy setting in.. could have had this car for as OP said less than $10. facepalm

I've created a bitpay merchant account and added a pay now button. I know they charge 1%, but I think it's the safest bet given that the price of bitcoin can fluctuate so much in one day. You are NOT expected to pay before seeing the car in person. I've added the pay now button for those who may believe that bitcoin value is about to drop significantly.

Maybe in 2 years I'll buy it for 0.1 BTC :)

MtGox price: 1505.7 BTC
BitPay price: 1497.2 BTC

Two weeks ago a guy on r/Bitcoin bragged about having bought a Cayman-s for Bitcoins, so this is not the first one!

It was a RH drive in the UK or Eire, so not the same car. Paied 9,600 btc if i remember right (had more mileage).

Bummer, thought this was the first supercar sale for bitcoins. I just searched /r/bitcoin and can't find any references to the word porsche or cayman, are you sure that's the right subreddit? Sounds like he overpayed quite a bit.

There's a 2004 mitsubishi evo that looks like it's been worn in pretty well for 1400, and a BMW 530D for 3000 BTC on bitmit. I'm not charging a bitcoin convenience fee, you are paying the exact same amount that I would take in cash.

So who wants to buy the first reasonably priced supercar, with low mileage, and upgrades, for bitcoin?

I want, but insufficient funds stops me :(

Here you go 22 days ago: http://www.reddit.com/r/Bitcoin/comments/17bklk/thank_you_bitcoins/c844n9e

Search on reddit never works.

waaat? he payed 9kBTC for that thing? Way overpriced!

EDIT: In germany we call these Aldi-Porsche (Aldi is the cheapest grocery store chain) or Hausfrauen-Porsche (Hausfrau = housewife)

Ah, that's an old boxter, no supercar in my opinion. All is well on first supercar sold for bitcoins, as long as one of you guys puts up some coin before a local craigslister does. I'm also assuming he paid $9,000 fiat, unless he really got ripped off ($150,000+ USD for an early '00s boxter?)

It is very obvious if you read the thread of comments.  One person says "Yeah, that looks like an (very) early 00s-era Boxter (non-S). It's probably only worth ~$12,000.", to which he responds "spot on chief, I got it for 9288, my dad is a good haggler."

So, yeah, $9,288 USD.  Nice car though, I'd drive it!

oh, ok. that makes sense then.

Good idea though, I've posted a link to this thread on the bitcoin subreddit. Hopefully someone with enough coins in reserve with a yearning for an awesome car will stop by. Help me out and give it an upvote fellas!

http://www.reddit.com/user/crazyblane/

Link listed as "Porsche Cayman S for Bitcoins!" in new posts under r/bitcoin

That's a supercar?

I suppose it depends on your definition of supercar. I believe the performance upgrades and condition put it at that level, but high end exotic also works. Semantics aside, this is a great sports car at an excellent price.

So tempted to buy this and get the vanity license plate "PAID BTC". :)

No seriously I hope you sell if CrazyBlane so the next time someone asks me "what can you buy with Bitcoin" I can say ."blah, blah, blah, and a slightly used sportscar".

+1

If anyone would like to pay for delivery of this item in Bitcoins PM me. I am also willing to assist in escrow.

lol!

Hell, I'd drive it to Europe/Asia/Africa/Middle East/... Hell of a road-trip... crossing these interesting countries in a Cayman S with 2k coins in escrow... should work out just fine.

Will take the route that requires the least "hopping of lakes on ship".

I never said anything about international delivery ;)

Still available and the price is now ~400 btc less than when I originally listed it!

What?! NEVER!

If only I held what I had when I first got into bitcoin I'd be able to afford this actually  :'(

You want the buyer to give you all the bitcoins at the same time the seller gives you the car for delivery?

You are the guy that claims to be selling the .com top level domain. Like anyone would ever see you again.

Haha, yes I'm assuming he was joking. For the record though, I will not be selling through a third party. If you want the vehicle, I expect you will want to come and pick it up yourself.

By the way, we are currently sitting at 1057 BTC, which is pretty amazing. Anybody ready to jump on this amazing deal?

If we ever get down to 50 ($800 Bitcoins, anyone?), I just might!

That would be something else huh? It begs the question, are you positive that you would still be holding on to those 50 coins as it passes the $500, $600, $700 mark? And on the other end, how many people are going to pass the 100 BTC Porsche at $400 a coin? I don't think we'll be reaching those values any time soon but nothing's certain, could be worth $20 a coin next Tuesday for all we know.

Not positive about anything, but I'll likely have more than the 50 that I'm holding on to at that point.  When the BFL units arrive, I'm planning to mine and permanently (more or less) save half of the coins mined.  I'd like to eventually buy a house with BTC, so I will be saving and awaiting the day when that is possible.

It was already possible. I think at least 2 houses were offered here?

Possible for me. ;)

The moment this hits ~500 BTC, I'm buying.

Lol, get in line...

Anyone down in Austin for SXSW interested in driving back home in a Porsche?
http://btcticker.appspot.com/mtgox/40000usd.png

Or a Harley?
https://bitcointalk.org/index.php?topic=142257.msg1515701#msg1515701

with bitcoin, it's like a Dutch auction (http://en.wikipedia.org/wiki/Dutch_auction).
very interesting!

And people think a deflationary currency is a bad thing because people will not spend it. Quite to the contrary!

What would Jeremy Clarkson say....

As of right now 710BTC, getting tempting.............

Still available. 693 right now! Who's coming down to pick her up this weekend?

Are you trying to get me divorced! stop tempting me you devil. lol

Bring her too, there's room in the passenger seat!

Get the divorce, with this car you can get a younger model ;)

I can't believe that if i hadn't placed my BFL pre-order I could have bought this.... and also had a divorce...

that really helps it hit home... a damned porsche with 8k miles for ONLY 670 btc... jeebus

I don't know if anyone addressed this yet or not, but the whole bill of sale for $1 thing doesn't work anymore.  If you say you sold it for $1, the state (Texas state for sure) will take a percentage of the estimated value.  I know only because I "purchased" a vehicle from my sister and had to transfer the title to my name within the stat of Texas.  I think I ended up saying it was a gift or something.

Love it.

Price lowered to 39k in bitcoins. We're in the 500s now guys! Harley sold today for fiat, don't let this one slip away!

I've added some interior pics. Also, the Harley deal fell through so it's still available, posted new pics and video there too:
https://bitcointalk.org/index.php?topic=142257.0

Bump.. Under 500 BTC at the moment!(496.6)

I have enough to actually purchase this. I have never thought there would be a day I would be able to afford a Porsche.

did, too.
bought a couple of avalons, though.

Why is the price of this Porsche so low if I may ask?
I mean brand new there about 100k and now just only 42k while the car is only 6 years old and only has run 8200 miles.

Luxury cars lose a lot of value the moment you take them off the lot. Something like 10%-15%. Still, it does seems like a pretty good price.

He also probably knows that the value of btc is going up so its a better deal for him.

Enjoy.  ;)

http://www.automoblog.net/wp-content/uploads/2011/02/mesh6-623x389.jpg

^ Is this offer still valid?  :P

Whoever buys this wonderful car should add a sticker 'Bought with bitcoins'  8)

License plate:  "GOT4BTC"

Or just go with the classic "BITCOIN" (sub 1's for I's where necessary for availability).

It's 39k actually. I've priced the car in the range 2007 models are selling for. Still, you'll be hard pressed to find a 2007 in this condition, and with comparable upgrades at the same price point. I'd be willing to accept a higher offer if you are interested :)

Also, this is not a bitcoin only price. I have it listed locally for those crusty individuals still interested in using fiat.

Good question! Hopefully they didn't spend their reserves on Avalons too. 1 Porsche beats 2 Toyota Avalons hands down. Seriously though, the price of bitcoin is sparking a lot of interest. I don't expect it to be available much longer.

I like the license plate idea, please don't put a sticker on this car!

LOL that was my thought as well. Whoever puts a bumper sticker on this car deserves to be shot.

Automatic?

The last thing I need is a porsche, but I'll bid 235 coins. If anyone wants to step in front of me, please do.

If it gets close, I'll put up 20 coins in earnest money, and you can do the same to complete the deal. As long as the title is clear and there isn't a raccoon living in the backseat, I'll find a way to get it home.

Not everyone has the option for such a number plate...over here, the sticker is more or less the only option...  :(

Automatic with TIPS control. Pristine condition, low miles, multiple upgrades, clean title, no vermin calling it home.

I've added a picture of the vehicle cover included with sale. There are currently 3 buyers interested in picking up the car soon. All are waiting for BTC to hit a certain price before they pull the trigger. I will be selling to the first buyer that can make it down to Austin who's willing to pay the current BTC market value.

wow, only 376 BTC, someone's gonna take it soon

355 BTC right now. Pretty amazing, but it seems all potential buyers are waiting indefinitely for a higher exchange rate. Today is the last day to purchase at market rate, I'll be moving to a static pricing model tomorrow morning. Barring a dramatic shift in value, tomorrow's BTC price will be 400 BTC.

Are you expecting BTC value to drop then?  Or just not interested in selling for BTC anymore?

He's just trying to light a fire under someone's arse.  Good on ya.

This is very interesting. Buying a car for bitcoins.

Sold! I'll post an update soon.

For Bitcoins??

Second that. It's crazy to think nobody bought it before now. The seller was smart to challenge buyers with a switch to a fixed-BTC price tomorrow.

In the long run, Bitcoin needs more sellers to switch to a fixed-BTC price instead of an exchange rate. It strengthens the value of Bitcoin.

Yes, the transaction is occurring this evening and assuming the deal does not fall through I'll mark the item as sold.

I'm thinking this should be big news for bitcoin, I'll post on reddit after the sale, something along the lines of "Porsche Cayman S sold for 3xx BTC". Anyone have any ideas on which news organizations to submit to? I recently noticed a man putting his shanty up for BTC in Canada making the rounds, surely this is more interesting?!

Nice!

Congrats CB - hope BTC doubles for ya.  Wait until the media runs with this....

This will be huge.

Unless you guess want to keep this private, I would record the handing over of the keys and post it for the world to see.

The Porsche sold today for ~300 Bitcoins! If this isn't proof that Bitcoin is a legitimate currency, then I don't know what is. The buyer purchased his initial Bitcoin investment at around $4 a piece so they got an amazing deal. I'm not sure if this is the single largest item sold for BTC, but I can guarantee it's the first $40,000 vehicle sold for ~300 BTC. The buyer wishes to remain anonymous, but I've asked a bitpay representative to come and post in this thread to confirm the transaction occurred.

Help me spread the word, upvote the story on reddit:
http://www.reddit.com/tb/1bkhjp

Submit to as many news agencies as you please, Bitcoin is here to stay!

Awesome dude...congrats.


...wonders if they pay for interviews.  ;D

Very cool :)

wow very nice
congrats!

fixed the reddit link (Upvote!)
http://www.reddit.com/tb/1bkhjp

Finally signed up to Reddit just to comment.  I think I upvoted it, but I'm still trying to work out the site to be honest :D

The Harley is still available if anyone is interested.
https://bitcointalk.org/index.php?topic=142257.0

Well done!

Thanks guys! Looks like someone beat me to the reddit post. I could care less about Karma and I wouldn't mind but he spelled Porsche wrong and did not post a pic.. I've asked him to delete or fix but no response, please down vote his if you get a chance

Downvote! ( If you have time, upvote my comment in his comment thread pointing to the correct post)
http://www.reddit.com/tb/1bka93

Upvote!
http://www.reddit.com/tb/1bkhjp

Done :)

Same.

Guy is like what...who me???  What a douche.

Congratulations!

So the buyer invested ~$1,200 and in a few years got that beauty of a car.  Awesome power of BTC.  Now if only he/she could buy the insurance with BTC....

Congrats

This is just awesome.

I have a clue who he is

https://bitcointalk.org/index.php?topic=130287.0

Wow. This is awesome.

Congrats.

(Maybe I will sell my 2003 SV650S on here then.)

AWESOME!

At least I know there is a market on here for it now.  ;D

http://www.businessinsider.com/texas-family-we-sold-this-porsche-last-night-for-300-bitcoins-2013-4

Go show your support for bitcoin in the comments. Thanks to Carlos for contacting business insider!

We're on huffingtonpost but the article is a little less flattering. Let Mark Gongolof know how uninformed he is about Bitcoin!

http://www.huffingtonpost.com/mobileweb/2013/04/03/bitcoins-bubble-porsche_n_3009313.html

https://www.bitmit.net/en/item/21524-2007-porsche-cayman-s-8200-miles
needs a edit.

Thanks, Marked as sold. I did not see a delete option...

Very nice! Congratulations

Actually, business insider contacted me.
I guess I was the first on the first page to have a visible email on profile.

Ha, I guess he wasn't interested in creating a forum account. By the way, that article got a lot of attention. Enough attention for him to write a positive follow up article on Bitpay today:
http://www.businessinsider.com/interview-bitpay-founder-tony-gallippi-2013-4

This is good for bitcoin as a whole.

Frekaing awesome! Way to go blaine! :)

I still remember your drawings of your avatar when you were selling video cards. This is an entirely diff step. Thank you for your work in improving the btc community!

Wow, good memory! It's pretty amazing that my first big sale was a 6990 for 82 BTC and just 2 years later, a Porsche for 300 BTC.

I noticed that there were multiple offers on this Cayman.  I also have a Cayman S in Austin I'm willing to sell for Bitcoins.  It's better in some ways, not as good in others, but it is considerably cheaper and I can be flexible if you're paying in Bitcoin.

http://austin.craigslist.org/cto/3723378521.html

https://i.imgur.com/gzw0t4ml.jpg
https://i.imgur.com/TB5k5xGl.jpg

Those pictures are from downtown Austin. I can see the popo HQ. (I miss Austin)

Gratz on this guys. This is a big jump for BTC!!!

Extreme gratz to both buyer AND seller!!

Conratz!

bitpay representative? So you're not keeping the BTC or what?

The original sale has been written about in Swedish press:
http://www.svd.se/naringsliv/nyheter/varlden/salde-porschen-for-bitcoins_8053680.svd

Just added my 1962 Tbird if anyone is interested:

https://bitcointalk.org/index.php?topic=171077.0 (https://bitcointalk.org/index.php?topic=171077.0)

Carlos could arguably have the best play of 2013.  Buy your 300 coins back for about $50 each. 

I sold for my father through bitpay at 100% usd payout. If it were my choice, I would have taken at least a small percentage in Bitcoin. In hindsight that would have been a horrible idea. At least in the short term. I think the real story may be the other Austin Porsche seller who sold for 100 coins at around 230 a piece as an investment. If he's still holding the coins, he's probably not too happy tonight.

https://bitcointalk.org/index.php?topic=170706.msg1787052#msg1787052


Personally, I think it will slowly rebound back to the $250s and beyond at some point in the future, but I would be very nervous holding 300 coins vs 39k right now.

Congrats on the sale.  I kept mentioning this sale to my friends to let them know what you can buy with BTC.  When the crash started yesterday I instantly wondered about your sale  :D

FTFY

*************old thread*************

300btc 9 months ago bought a very nice 2007 Porsche, today 300btc could buy you a 2013 Lamborghini Gallardo  ;D

http://i846.photobucket.com/albums/ab22/1973mb1973/7854266febcfe32008902039c9c52879_zps796e2bfe.jpg

amazing! Such a great story.

That's legit!  I see alot of people wanting to sell items for Bitcoins only, such as cars...Guess it works lol.  Now if I can only get my business to start doing the same thing.  I don't know if I would get more people if it wasn't just accepting bitcoins, so going to integrate it into the real company for credit card and paypal payments.  What do you guys think?  Did the Porsche ONLY accept bitcoins as an option?

www.bitcoindirect.net (http://www.bitcoindirect.net)
Custom Etched Glasses & Mirrors

Very very cool.