The first electric Ferrari Luce was sold at a charity auction for $40 million
A one-of-a-kind example of Ferrari’s first all-electric car—the Luce—sold for $40 million at a Sotheby’s charity auction during Monterey Car Week in California. According to CNBC, this is a record amount for a new car sold at auction.
The lot was the first production chassis in the Luce program. The car was unveiled as part of the Ferrari Tailor Made program, which allows for the customization of vehicles according to the buyer’s specifications. It features a unique semi-gloss finish and other custom elements.
Sotheby’s did not disclose the name of the winning bidder. The auction house stated that the proceeds from the sale will be donated to the Ferrari Foundation, which supports educational programs.
Ferrari unveiled the Luce nearly two months before the auction. The model was valued at 550,000 euros—approximately 640,000 dollars. Its design differs from the usual Ferrari aesthetic. The Luce’s unveiling came as Porsche and Lamborghini were scaling back their plans to launch their own electric vehicles due to weak demand.
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The Luce’s debut sparked a negative market reaction. Analysts attributed this to criticism of the model’s design and a significant rise in Ferrari’s stock price leading up to the unveiling.
Ferrari CEO Benedetto Vigna stated that the company takes into account the diverse needs and preferences of its customers. According to him, the Luce is intended to appeal to the brand’s existing customers and attract new ones with its all-electric model.
Last month, Ferrari raised its forecast for the full year 2026 after beating Wall Street expectations in the second quarter. The company attributed this to higher-than-expected demand for vehicle customization. Since the beginning of the year, Ferrari’s shares, which trade on the Milan Stock Exchange, have risen by nearly 12%.
