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An Atlanta Craigslist ad has attracted attention this week not only because it’s for one of the hottest sports cars on the planet, but because of the payment method the seller prefers. According to the ad, the owner of this “Azores Orange” 2018 Mclaren 720s will only accept cryptocurrency bitcoin for payment. Does someone want to keep this transaction off the books?
The asking price of the sports car is 20 BTC, which comes about to somewhere around $392,999.90 USD based on the current price of bitcoin. The stock 720S costs somewhere around $285,000 USD, but the ad lists a variety of options and add-ons such as the car’s 710-horsepower, 4.0-liter V-8 engine, upgraded exhaust, 10-spoke lightweight racing wheels, the McLaren track telemetry performance monitoring system, and carbon fiber body kit. According to the craigslist ad, the car puts other high-end sports cars to shame:
Tastefully optioned and with very little miles. I’m am taking payment in bitcoin ONLY. This is your chance to cash out on the hottest car of the year. The 720s will outperform MOST supercars including Veyrons, Lamborghinis, and Ferraris. You know you want this car.
The buyer requires a deposit of deposit of .0001 BTC just to see the car. From then on, interested buyers can arrange shipping – for an added charge, of course. The asking price has fallen from 30 BTC, or around $589,499.85 USD, likely based on the changing value of bitcoin.
Over the last few years, more and more high-end car buyers around the world have been turning to cryptocurrencies like bitcoin or China’s litecoin to make similar car purchases, preferring them over traditional currencies for their anonymity, decentralized regulation, and transparency. Mike O’Connor, founder of Heritage F1 who has brokered several of these deals, told Bitcoin.com that cryptocurrencies “will set a new precedent and open up a whole new international market to us. There is increasing demand for the purchase of luxury assets in cryptocurrency.” Are cryptocurrencies the future of high-end auto sales?