Ferrari’s first fully electric car has sold for a record $40 million at a charity auction in California, becoming the most expensive new car ever sold at auction.
The Ferrari Luce, unveiled in May, fetched far more than its estimated $1.1 million auction value at RM Sotheby’s Monterey sale. The auction house did not identify the buyer. All proceeds will support educational initiatives through the Ferrari Foundation.
The result also dwarfed the Luce’s standard starting price of €550,000. The car was developed with LoveFrom, the design collective led by former Apple design chief Sir Jony Ive and Marc Newson.
Unique Ferrari Luce becomes auction record holder
The auctioned vehicle, known as “Chassis 0”, is the first production chassis from the Luce programme.
Ferrari created the one-off model through its Tailor Made personalisation programme. It features a special Madreperla Semi-Gloss finish that can shift from green to violet depending on the light.
The car also has dedicated wheels, bespoke brake calipers and a customised interior using Perla Le Mans metallic leather.
RM Sotheby’s described the charity sale as a “tangible expression of innovation, responsibility, and long-term vision for future generations.”
The $40 million result surpassed the previous record for a new car. A unique Ferrari Daytona SP3 sold for $26 million at a charity auction in 2025.
However, the Luce remains far below the overall auction record. A rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé sold for €135 million, about $142 million, in 2022.
Ferrari Luce faced backlash after May launch
The auction success follows a difficult public debut for Ferrari’s first electric model.
The five-seat, four-door Luce triggered criticism from traditional Ferrari fans who questioned its styling and battery-powered identity. Ferrari shares fell 8.4% in Milan the day after the unveiling.
Former Ferrari chairman Luca Cordero di Montezemolo became one of the most prominent critics. He warned that the company was “risking the destruction of a legend.”
Italian Deputy Prime Minister Matteo Salvini also criticised the vehicle.
Despite the reaction, Ferrari has defended its decision to push into electric vehicles. Chief design officer Flavio Manzoni said criticism forms part of the innovation process and predicted that buyers would eventually appreciate the Luce.
Strong demand follows controversial debut
The early commercial response appears stronger than the initial backlash suggested.
Ferrari has already reached its 2026 sales target for the Luce, with reports pointing to strong demand from China and interest from technology entrepreneurs. The company had reportedly targeted close to 500 units for the year.
The Luce represents Ferrari’s first major move into a fully electric market currently shaped by Tesla and increasingly powerful Chinese EV manufacturers.
Its $40 million charity sale now gives Ferrari a high-profile auction record while demonstrating that collectors remain willing to pay extraordinary sums for rare models, even as the company experiments with a radically different direction.
