Ferrari’s first electric car sells for $40M at auction

The first production unit of Ferrari's ↗ 0.62% all-electric Luce sold for $40 million at RM Sotheby's during Monterey Car Week on Saturday night, obliterating its pre-sale estimate of roughly $1.1 million by nearly 40 times and setting a record as the most expensive new car ever sold at auction.bloomberg+1

The result surpasses the $26 million fetched by a customized Ferrari Daytona SP3 at the same event last year, which had held the previous record for a new-car charity auction by the Italian automaker. The entire $40 million will be donated to The Ferrari Foundation to support educational initiatives, including a collaboration with Save the Children to help rebuild the Aveson Charter School in Altadena, California, destroyed by the 2025 Eaton Wildfire.italpassion+2

Bidding Frenzy

Offered without reserve, the Luce opened at $1 million and rocketed past $5 million within seconds. The pace slowed briefly around $10 million before climbing through $15 million and $20 million, then leaping to $36 million. The winning bidder jumped to $40 million, scaring off remaining competitors. The buyer's identity has not been disclosed.motorbiscuit+1

The car itself is no standard Luce. Designated Chassis 0, it carries a Tailor Made specification finished in Madreperla semi-gloss, a mother-of-pearl white with iridescent reflections that shift from green to purple depending on the light. Inside, Le Mans metallic leather in Perla pairs with Grigio Corvara accents, and a plaque confirms its status as the first series-production electric Ferrari ever built.evpowered+1

Critics Silenced by the Market

Since its unveiling earlier this year, the Luce has divided enthusiasts. Giorgetto Giugiaro said even a beginner could have done better, while former Pininfarina design director Fabio Filippini called it a "soulless object". Yet the five-seat EV — powered by four electric motors producing a combined 1,050 horsepower and capable of reaching 60 mph in 2.5 seconds — shifted every customer allocation almost immediately.italpassion+1

Bryant Kreaden, former manager of Ferrari of Beverly Hills, suggested the buyer likely needs a large tax write-off and is "that level of a collector," adding that the purchase probably secures access to highly exclusive future Ferrari allocations.theautopian

A New Dimension for Monterey

The Luce was not the only headline lot. A Ferrari Daytona SP3 sold for $17.8 million earlier in the week, and a 1996 McLaren F1 GTR fetched $34.6 million — itself expected to be the top sale before the Luce surpassed it. According to Hagerty, nine of the ten most expensive cars sold at auction so far this year have been Ferraris.autonext+1

"How do we top that, ladies and gentlemen?" the auctioneer asked after dropping the gavel.theautopian