Ferrari’s first ever electric car sold for record $40m at auction
2 hours ago
RM Sotheby’s
Ferrari’s first ever all-electric car has fetched $40m (£29.5m) in a charity sale, setting a record for a new car sold at auction
The RM Sotheby’s auction in California raised more than 35 times the usual price of a Ferrari Luce. The auction house said the “first production chassis” features a unique finish and bespoke parts
The Luce, the brainchild of iPhone designer Sir Jony Ive, faced a backlash when it was launched in May as some commentators said it strayed from the marque’s traditional designs and lost part of the brand’s identity by being battery-powered and having five seats
Sotheby’s said all proceeds of the sale will be donated to the Ferrari Foundation’s educational programmes
Sotheby’s did not name the buyer of the custom Luce. The BBC has contacted the auction house and Ferrari for more information
The unveiling of the Luce was seen as one of the biggest launches of a new car in recent years
It marked the prancing horse’s first entry into the electric vehicle (EV) market – a sector dominated by Elon Musk’s Tesla and China’s carmakers
Italian President Sergio Mattarella and Pope Leo were invited to view the luxury brand’s new vehicle
RM Sotheby’s
But Ferrari’s shares dropped the day after the Luce’s launch, following backlash over the car
Amongst those criticising the car were Italy’s deputy prime minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo, who said the car was “risking the destruction of a legend”
Ferrari’s chief design officer Flavio Manzoni said in an interview in May that critics are part of the innovation process and that he believed people would come to appreciate the Luce
The company has not disclosed its target for Luce sales but, according to a Financial Times report, it has hit this year’s goal thanks to strong demand from China
Ferrari did not respond to a BBC request for comment on the FT’s report
Sotheby’s said in a statement that the auctioned vehicle marked an “unbeatable opportunity” to own the first production car of the Luce
The car has special wheels, customised brakes and a white finish
The charity sale marks a “tangible expression of innovation, responsibility, and long-term vision for future generations,” Sotheby’s said
Ferraris often attract some of the highest prices at car auctions
A bespoke Ferrari Daytona SP3 supercar raised $26m for the carmaker’s education initiatives at an auction in 2025. At the time it set an auction record for the highest-price paid for a new car
The current record for the highest price paid at auction was an ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which was sold for $142m in 2022
Ferrari wanted to take on Chinese EVs with the Luce – then the backlash started
The world‘s carmakers are struggling to compete with China
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