Ferrari's first electric car sells for record $40m at charity auction
Ferrari's debut all-electric model, the Luce, sold for $40m at a Sotheby's charity auction in California, becoming the most expensive new car ever sold at auction, with proceeds going to Ferrari Foundation education programmes.
A custom version of the Ferrari Luce, the brand's first fully electric car, sold for $40m (£29.5m) at a Sotheby's auction in California — more than 35 times the model's usual price and a new record for a new car sold at auction.
The auctioned vehicle featured a unique white finish, special wheels and bespoke brakes, according to the auction catalogue. Sotheby's did not disclose the identity of the buyer.
All proceeds from the sale will go to the Ferrari Foundation's educational programmes. Sotheby's described the sale as reflecting innovation, responsibility and a long-term vision for future generations.
A contested launch
The Luce, designed under the direction of former Apple designer Sir Jony Ive, was unveiled by Ferrari in May in what was seen as one of the biggest new car launches in recent years. Italian President Sergio Mattarella and Pope Leo were among those invited to view the vehicle.
However, the car drew criticism from some commentators who argued it departed from Ferrari's traditional design language, given it is electric and seats five people. Former Ferrari chairman Luca Cordero di Montezemolo and Italy's deputy prime minister Matteo Salvini also criticised the model. Ferrari's shares fell the day after the launch amid the backlash.
The Luce marks Ferrari's first entry into the electric vehicle market, a sector currently led by Elon Musk's Tesla and Chinese manufacturers.
This is not the first time a Ferrari charity auction has supported education efforts — a bespoke Daytona SP3 supercar raised $26m for the same cause in 2025, at the time setting the previous record for the highest price paid for a new Ferrari at auction.
