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As Electric Car Production Falls Short, Flippers Step Up

The years-long wait for some new electric vehicles is creating a reselling frenzy.

Rivian’s R1T electric pickup is in high demand, and a popular model for flippers. 

Rivian’s R1T electric pickup is in high demand, and a popular model for flippers. 

Photographer: Sebastian Hidalgo/Bloomberg
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In the wee hours of the morning in October 2020, Brent Estes turned his insomnia into $35,500. 

The 39-year-old Californian was in bed, scrolling through Hummers on his phone — specifically, the GMC Hummer EV, one of the rarest and most coveted machines in a parade of all-new electric vehicles. Estes happened to be awake during a tiny window in which a $100 deposit reserved the right to buy one of the first models off the assembly line. Within 10 minutes, all of the first editions were spoken for, including the one he managed to secure.