GoKawiilIn a nutshell: Ferrari's first electric vehicle sold for $40 million at a charity auction in California, setting a record for a new vehicle sold at auction. The result offers an early sign that Ferrari's brand power, and its appetite for limited, customized EVs, remain strong despite a contentious launch.
RM Sotheby's sold the first production example of the Ferrari Luce, a customized version of the company's new electric model. The buyer was not identified. The proceeds will go to the Ferrari Foundation's education programs.
The sale price was more than 35 times the Luce's usual price, and it also topped Ferrari's previous record for a new vehicle sold at auction. In 2025, a bespoke Daytona SP3 brought in $26 million for Ferrari's education initiatives.
The Luce is Ferrari's first move into the electric vehicle market. It was developed with input from former Apple designer Sir Jony Ive and was one of the company's most closely watched launches in recent years.
The model has drawn criticism since its May debut. Some critics said the five-seat, battery-powered vehicle moves too far from the designs that made Ferrari famous. Italy's deputy prime minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo were among those who objected. Montezemolo said Ferrari was "risking the destruction of a legend."
Ferrari chief design officer Flavio Manzoni said in May that criticism comes with innovation and that he believed people would eventually appreciate the Luce.
The launch received unusual public attention. Italian President Sergio Mattarella and Pope Leo were invited to see the vehicle. Ferrari's shares, however, fell the day after the unveiling as criticism of the car spread.
Ferrari has not disclosed a sales target for the Luce, though the Financial Times reported that the company has already reached its goal for the year, helped by demand from China.
Sotheby's said the auction gave one buyer an "unbeatable opportunity" to own the first production Luce. The auction house called the sale a "tangible expression of innovation, responsibility, and long-term vision for future generations."
Ferraris regularly bring high prices at auction, especially limited-production and customized models, though the $40 million sale falls short of the all-time auction record for any vehicle. That belongs to a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for $142 million in 2022.