Ferrari’s first-ever electric vehicle, the Ferrari Luce, has sold for a staggering $40 million at a charity auction, setting a new record for a new car sold at auction.
The custom-built vehicle, designed with input from legendary British iPhone designer Sir Jony Ive, raised more than 35 times the usual price of the model at the RM Sotheby’s event in California. All proceeds from the sale will be donated to the Ferrari Foundation’s educational programmes, Sotheby’s confirmed. The buyer of the unique, white-finished vehicle with bespoke parts and special wheels has not been named.
The Luce’s launch in May was one of the most anticipated new car unveilings in recent years, marking the prancing horse’s entry into the electric vehicle market dominated by Tesla and Chinese carmakers. However, the car faced an immediate backlash, with critics arguing that the battery-powered, five-seat design strayed too far from Ferrari’s traditional identity.
Among the high-profile critics was 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 share price dropped the day after the launch, reflecting investor concerns.
Ferrari’s Chief Design Officer Flavio Manzoni defended the car in May, stating that critics are part of the innovation process and that he believed people would come to appreciate the Luce over time. The company has not disclosed its target for Luce sales, but a Financial Times report indicated that the goal has already been met for this year, driven by strong demand from China.
The $40 million price tag surpasses the previous record for a new car sold at auction, set in 2025 when a bespoke Ferrari Daytona SP3 supercar raised $26 million for Ferrari’s education initiatives. The current record for the highest price paid at auction overall remains the ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for $142 million in 2022.
The Luce’s design was overseen by Sir Jony Ive, the designer behind the iPhone, who helped create a five-seater, four-door GT that blends Italian craftsmanship with modernist design. The auctioned vehicle features a white finish, custom brakes, and special wheels. Sotheby’s described the car as an “unbeatable opportunity” to own the first production car of the Luce and a “tangible expression of innovation, responsibility, and long-term vision for future generations.”
