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Perhaps there were some warning signs about used car marketplace Beepi, well before the company abruptly shut down last week after a failed merger. It seems that Beepi once lost nearly $30,000 on a single car, according to research done by rival (and still active) startup Carlypso.

The deal: Beepi apparently purchased a black 2012 Mercedes-Benz CL550 in February 2014 for $78,076. It sold the car more than 540 days later in August 2015 for $48,500—taking a $29,576 loss.

How did this happen? Beepi guaranteed that it would purchase any cars that didn't sell within 30 days after listing, which is how it ended up with the pricey Mercedes to begin with. Carlypso's theory is that Beepi ended up in this mess from a combination of questionable market data and not moving fast enough to adjust the car's price as it was depreciating.

More than this one: Axios had heard from one industry source that up to one-third of the Beepi's cars were sold at a loss, although that may have improved in its final months of operation.

Go deeper

Updated 1 min ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: Biden has arrived at the White House and he will sign executive orders and other presidential actions.

30 mins ago - Podcasts

Podcast: After the Biden inaugural

Joe Biden was sworn in today as America's 46th president in an inauguration unlike any other in modern history.

Axios Re:Cap goes deeper into the speech, the atmosphere and what it all tells us about the incoming administration, with Axios political reporters Hans Nichols and Alexi McCammond.

Biden embarks on a consequential presidency

Photo illustration: Sarah Grillo/Axios. Photo: Joe Raedle/Getty Images

Donald Trump tried everything to delegitimize the rival who vanquished him. In reality, he's set Joe Biden on course to be a far more consequential U.S. president than he might otherwise have become.

The big picture: President Biden now confronts not just a pandemic, but massive political divisions and an assault on truth — and the aftermath of the assault on the Capitol two weeks ago that threatened democracy itself.