Ferrari’s first all-electric vehicle, the Luce, sold for a record $40 million at an Sotheby’s charity auction during Monterey Car Week in California. The “tailor made” one-off commission is now the priciest new vehicle ever sold at public auction, signaling strong collector demand despite early criticism of the model’s design.
The sale marks a significant departure from Ferrari’s combustion-engine heritage. While the brand’s transition to electric power initially met with skepticism, the $40 million result suggests that Ferrari’s aura of exclusivity remains intact.
LoveFrom Design and Technical Specifications
The Luce is a four-door vehicle that combines more than 1,000 horsepower with a design language developed in collaboration with LoveFrom, the studio founded by former Apple design chief Jony Ive. As a “tailor made” example, the car was assembled as a one-off commission based on a buyer’s precise specifications.
This specific auction model far exceeded the standard pricing for the model. The forthcoming production version of the Luce carries a base price of approximately €550,000.
Benedetto Vigna on the Electric Shift
The road to this auction record was not without friction. When Ferrari unveiled the Luce in May, the announcement triggered a wave of criticism and a drop in the company’s share price. Ferrari CEO Benedetto Vigna responded by emphasizing that the vehicle is a unique proposition in the EV market.
“The Ferrari Luce has nothing to do with electric cars you have seen from other players. You have to see it and drive it to understand that it wasn’t copied — not the interiors, not the exterior, not the performance.”
Benedetto Vigna, CEO of Ferrari
Vigna noted in May that the company was already receiving orders from both longtime clients and new customers, suggesting that the brand’s pricing power could transfer from gasoline engines to battery power.
Financial Performance and Market Guidance
The high-profile sale coincides with a period of strong underlying economics for the carmaker. Ferrari raised its full-year guidance late last month, following second-quarter results that were bolstered by demand for limited-run models, including the F80 and a higher-priced version of the Purosangue four-seater.
This growth is reflected in the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA), which rose to €2.97bn in 2026, up from €2.77bn in 2025.
Analysts suggest that such record-breaking collector sales serve as a visible indicator of “brand heat,” which helps maintain high prices in the resale market and supports expectations for new vehicle allocations.
Auction Details and Charitable Impact
The sale took place through Sotheby’s at Monterey Car Week.
While the result does not necessarily end the aesthetic debate surrounding Ferrari’s electric design, it confirms that the first dedicated electric Ferrari is viewed as a prize by the world’s wealthiest collectors, placing the Luce alongside classic V12 models in terms of desirability.
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