A 2021 performance model Tesla that would cost more than $110,000 new has been listed on Trademe for $1 reserve - but there’s a catch.

The car can’t be legally driven on New Zealand roads after it was damaged in the Auckland floods. It is de-registered and is no longer under Tesla’s warranty.

Despite this, the auction has surpassed $18,000, with eager bidders keen to turn the high-performance plug-in into a rally or hill-climb car.

Hamilton EV manager Nicholas Down said the “absolutely stunning car got its arse wet in the Auckland flood”.

The midnight silver metallic 4WD has just 35,000km on the clock, is fitted with after-market 20″ Alloys and Pirelli P-Zero Tyres, has two Tesla Keys, and will come with a fully charged battery on collection or delivery.

Those bidding on the flood-damaged car are keen to strip it out and use it for rally or hill-climb races. Photo / Supplied

Down stressed the car was still fully functioning but the previous owner “insisted it was written off by the insurance company” because the damage meant it would no longer be under warranty.

“We won’t buy 99 per cent of flood-damaged cars but this one was immaculate, only the arse of it got wet.

“The law has changed so now the law states if a car is water damaged in any way all electrical components must be replaced with factory products.

 “This has to have a Tesla invoice and it has to be fitted by Tesla. It is not cost-effective for it to be re-registered.”

The back end of the Tesla was damaged in the Auckland floods and was written off by the insurance company. Photo / Supplied

Questions and comments on the listing ranged from people incredulous anyone would bid on a car that could not be driven on New Zealand roads to others complimenting the colour and style of the new-looking car.

One father asked for his bid to be removed after his “overly enthusiastic 9-year-old saw the auction and thought he’d found the buy of a lifetime”.

Down replied: “Your son should be commended on his exceptional taste and enthusiastic approach…No need to remove your bid, someone else’s son thinks it’s worth more, thanks for the message.”

Down said he had well over 25 calls from people keen on the car including some from Australia.

“The two guys from Australia are pretty serious and wanted a quote to containerise it and send it over.

“One is interested in it for motorsport and the other for hill-climb racing.

“The car is such an outstanding performance car and it’s incredibly fast. For the price they are going to get it for they will be able to do something incredible.”

Down said the car had the potential to sell for upwards of $30,000.

The high-performance car is fully functional but has been de-registered and can not be legally driven on New Zealand roads. Photo / Supplied.

“Batteries are $15,000 and that’s just the standard battery, this is the performance battery.

“If they want it for a motorsport car they are not allowed airbags or seats so they will take it back to the bare minimum and take as much weight out of it.”

Down said Hamilton EV originally purchased the car “as a donor car for a crash-damaged one but is in absolutely mint condition and too good to do that with it”.

“We are selective in the cars we buy. There are dozens that go through flood damaged and we won’t touch 99 per cent of the flooded cars because they are unbelievably bad.

“This one was immaculate though.”

The highest bidder would be able to arrange a test drive with a staff member before arranging for the car to be transported away.

The car can only be driven home from the dealership legally if the new owner has dealer plates.

“If you don’t have a dealer plate then it has to be collected on a transporter or a trailer,” Down said.

Despite not being under a Tesla warranty the company would still service the car at the new owner’s expense.

The car was already booked with Tesla for a full service and a damaged puddle light under the driver’s door would be replaced.

The latest software updates were installed this week from Tesla.