Ferrari’s first electric car ‘Luce’ fetches record $40 million at auction, proceeds to go to educational initiatives
Ferrari’s all-electric Luce sold for $40 million at a Sotheby’s charity auction, setting a record for new cars. Proceeds benefit The Ferrari Foundation.
The Sotheby’s charity auction of the Luce “tailor-made” at Monterey Car Week in California broke a record posted last year, when Ferrari’s customised Daytona SP3 sold for $26 million, the carmaker said in a statement.
Ferrari in May unveiled the Luce, priced at €550,000 ($636,356) to a wave of criticism and a drop in the company’s share price. The vehicle marks a break from Ferrari’s heritage of combustion-engine sports cars.
“Tailor made” cars are one-of-a-kind vehicles customised to a buyer’s precise specifications.
Sold: $40,000,000 USD
The 2026 Ferrari Luce ‘Tailor Made’ has sold at our Monterey auction.
Ferrari will donate all proceeds of this charity auction to benefit future educational initiatives through The Ferrari Foundation, a recognized 501(c)(3) public charity. #RMMonterey… pic.twitter.com/4FFMrc6HXO
— RM Sotheby’s (@rmsothebys) August 16, 2026
The model was designed with LoveFrom, the studio founded by Jony Ive, Apple Inc.’s former design chief and a key figure behind the iPhone and iMac. The car combines more than 1,000 horsepower with four doors.
Ferrari’s Chief Executive Officer Benedetto Vigna said in May that the model was getting orders from old and new customers.
“The Ferrari Luce has nothing to do with electric cars you have seen from other players,” he said at the time. “You have to see it and drive it to understand that it wasn’t copied — not the interiors, not the exterior, not the performance.”
Ferrari raised its full-year guidance late last month, as demand for limited-run models like the F80 and a more expensive version of its Purosangue four-seater drove higher second-quarter results.
Ferrari said that it will donate all proceeds of this charity auction to benefit future educational initiatives through The Ferrari Foundation, a recognised 501(c)(3) public charity.
Original source: https://www.cnbctv18.com/technology/
