Ferrari’s First Electric Car Sells for $40M in Record-breaking Charity Auction
Synopsis
Ferrari’s first electric Luce has set a new record after selling for $40 million at a charity auction with proceeds supporting the Ferrari Foundation’s education programmes.
Ferrari's first all-electric production car, the Luce has been sold for US$40 million at a charity auction in California, setting a new record for the highest price paid for a new car at auction.
The sale, conducted by RM Sotheby's exceeded the model's standard price by more than 35 times, with proceeds directed to the Ferrari Foundation's educational programmes.
The vehicle features an exclusive white finish, customised brakes and unique wheels which makes it a one-of-a-kind collector's edition.
The record-breaking auction comes just months after the Luce's high-profile debut which sparked intense debate among Ferrari enthusiasts over its all-electric powertrain and five-seat design.
Despite the initial criticism, the sale highlights continued demand for rare Ferrari models and the growing appeal of collectible electric vehicles.
Custom Luce Becomes the Most Expensive New Car Sold at Auction
RM Sotheby's described the auction as a rare opportunity to own the first production example of Ferrari's electric Luce. While the auction house did not disclose the buyer's identity, it confirmed that the entire US$40 million raised will support educational initiatives through the Ferrari Foundation.
The sale surpasses the previous record for a new car sold at auction, set in 2025 when a bespoke Ferrari Daytona SP3 fetched US$26 million for the same charitable cause.
Electric Debut Divided Opinion but Demand Remains Strong
Designed with input from renowned designer Sir Jony Ive, the Luce marked Ferrari's entry into the global electric vehicle market, placing the Italian luxury marque alongside established EV manufacturers and emerging Chinese competitors.
The model attracted criticism after its launch in May with some commentators and former Ferrari executives arguing that the five-seat electric design departed from the company's traditional identity. The negative reaction briefly weighed on Ferrari's share price following the unveiling.
However, Ferrari has defended the project with Chief Design Officer Flavio Manzoni describing criticism as part of the innovation process. Reports have also indicated that demand for the Luce has remained strong, particularly in China.
While the Luce now holds the record for the most expensive new car sold at auction, the all-time auction record for any vehicle remains the 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé which sold for US$142 million in 2022.
Source: BBC
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