All-Electric Ferrari Luce Fetches $40 Million, Becoming Costliest New Car Auctioned

Ferrari's first all-electric car, the Luce, has sold for $40 million at a charity auction during Monterey Car Week, setting a record for the most expensive new car ever sold at auction. The one-of-a-kind customised vehicle was auctioned by Sotheby's, with proceeds from the sale going to charity. The $40 million sale surpassed the previous record set by another Ferrari. In 2025, a customised Daytona SP3 sold for $26 million at auction. Ferrari said the Luce's result represented a new benchmark for a newly produced automobile sold through an auction.

The Luce was unveiled by Ferrari in May with a starting price of €550,000, or about $636,356 at the time. The model attracted significant attention because it represents a major departure from Ferrari's traditional identity, which has historically been closely associated with high-performance combustion-engine sports cars. The vehicle sold at Monterey was a “tailor-made” model, meaning it was created as a unique vehicle and customised according to the buyer's specifications. Such one-off Ferrari models are part of the company's exclusive personalisation programme, allowing customers to influence aspects of the car's design and configuration.

The Luce has been developed as an all-electric four-door model with more than 1,000 horsepower. Its design was created in collaboration with LoveFrom, the design studio founded by Jony Ive, the former chief design officer of Apple who played a key role in the design of products including the iPhone and iMac. The car's electric powertrain and four-door configuration mark a significant shift for Ferrari as the luxury automaker expands beyond its traditional range of combustion-engine vehicles. The company's move into electric mobility has attracted both interest and criticism from customers and enthusiasts concerned about how electrification could change the character of Ferrari's cars.

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Ferrari's decision to introduce the Luce comes as luxury automakers face growing pressure to develop electric vehicles while maintaining the performance, design and exclusivity associated with their brands. Ferrari has attempted to position the Luce as a high-performance interpretation of electric mobility rather than simply a transition away from combustion engines. The model's initial unveiling was followed by criticism from some Ferrari enthusiasts, while the company's share price also came under pressure.

The reaction reflected concerns among some investors and fans about the strategic direction of the brand as it introduces electrification into a product portfolio historically built around internal-combustion performance. Despite that initial response, Ferrari CEO Benedetto Vigna said in May that the Luce was attracting orders from both existing customers and new buyers. The auction result provides another indication of the strong demand for exclusive Ferrari models, although the $40 million price reflects the vehicle's unique, customised nature rather than the standard retail price of the Luce. The sale also underscores the premium collectors are willing to pay for rare Ferrari vehicles.

While the standard Luce was announced at a price of roughly $636,000, the auction car's one-off specification and charitable sale dramatically increased its value. With the $40 million auction result, the Luce has made an immediate mark even before becoming part of Ferrari's broader electric vehicle strategy. The record-setting sale gives the company a powerful showcase for its first all-electric model and demonstrates that, despite criticism of Ferrari's move into electric vehicles, the brand's exclusivity continues to command extraordinary prices among collectors.

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