Ferrari’s first fully electric car has sold for $40 million at a charity auction in the United States, setting a new record for the highest price paid for a new car at auction.
The bespoke Ferrari Luce was sold by RM Sotheby’s during Monterey Car Week in California. The auction price far exceeded the auction house’s pre-sale estimate of more than $1.1 million.
The sale comes nearly three months after Ferrari unveiled the Luce in May. The model was introduced with a starting price of about €550,000 but faced a strong reaction from some enthusiasts, particularly over its styling, which was developed by LoveFrom, the creative collective founded by Sir Jony Ive and Marc Newson.
The auctioned vehicle was identified as “Chassis 0”, the first production chassis in the Luce programme. Ferrari customised the car specifically for the sale, making it a unique example intended for collectors.
The Luce is powered by four electric motors, with one motor driving each wheel. Ferrari says the system produces a maximum output of 1,050 horsepower, allowing the car to accelerate from zero to 100 kilometres per hour in 2.5 seconds and reach a top speed of 310 kilometres per hour.
The vehicle is equipped with a 122-kilowatt-hour battery and has a claimed driving range of more than 530 kilometres.
Ferrari’s introduction of an electric model initially put pressure on the company’s shares. However, the stock has since recovered after the luxury carmaker raised its full-year guidance, reported strong financial results and said orders for the Luce were developing in line with expectations.
Ferrari’s share price has risen about 27 percent from its closing level of €284.05 on the first trading session after the car was unveiled on May 25.
The latest auction also sets a new benchmark for new vehicles sold at auction. The previous record was held by a bespoke Ferrari Daytona SP3, which sold for $26 million in 2025.
Ferrari will not retain the proceeds from the Luce sale. According to RM Sotheby’s, the full amount will be donated to the Ferrari Foundation to support its educational programmes.
The record-setting sale gives Ferrari’s first electric model an unusual place in the company’s history. While the Luce faced criticism when it was unveiled, its extraordinary auction price has placed the car firmly in the spotlight among collectors and luxury car enthusiasts.
The result also highlights the strong demand for highly exclusive Ferrari models, where rarity, provenance and bespoke specifications can push values far beyond the original retail price.
