Ferrari Luce electric car sold at auction for a record $40 million

The Ferrari Luce electric car, the first and so far only such model from the Italian manufacturer, was sold at a charity auction for $40 million. It set a record price for a new car ever sold at auction.

Ferrari Luce is a completely new Ferrari model, and not a modification of the old one for an electric motor. The appearance of Luce was developed by Briton Jony Ive, a former Apple designer. From him the electric car received a recognizable milky white color.

In this model, the company departed from Ferrari traditions twice: firstly, by equipping the supercar with an electric motor, and secondly, by making it a five-seater, rather than two- or four-seater, like regular Ferraris. These changes drew criticism immediately after the Luce's unveiling in May 2026, with many feeling that the changes robbed Ferrari of its identity.

And yet, at RM Sotheby's in California, the car sold for about 35 times its normal price. The buyer's name has not been released. It is known that the Ferrari Luce he bought was made to order and is distinguished by special finishing and unique interior details.

Sotheby's said all proceeds from the sale will be donated to the Ferrari Foundation's educational programs.

The BBC has contacted the auction house and Ferrari for comment and is awaiting a response.

The premiere of Luce was one of the largest launches of new car models in recent years. With it, Ferrari entered the electric car market, which is dominated by Elon Musk's Tesla and Chinese automakers.

Italian President Sergio Mattarella and Pope Leo XIV were invited to the presentation of the car, who not only inspected the car inside and out, but also got behind the wheel and took a ride in the first electric car in Ferrari history.

But in general, the reaction to the appearance of the new Ferrari was so negative that the day after the start of Luce sales, Ferrari shares fell in price. Among those who criticized the premiere electric car were Italian Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo, who said the electric car “risks destroying the legend” of Ferrari.

Ferrari chief designer Flavio Manzoni said in an interview in May that criticism is part of the innovation process and that he believes people will still appreciate the Luce.

The company did not disclose its sales targets for Luce, but, as the British Financial Times wrote, the annual goal was achieved due to high demand from China.

Sotheby's called the car an "unrivaled opportunity" to own the first production Luce, and the auction at which it was sold "embodies innovation, responsibility and a long-term vision for the future for generations to come."

Ferraris often sell for impressive sums at auction. In 2025, the Ferrari Daytona SP3 supercar was sold for $26 million, with all proceeds going to the automaker's educational initiatives. Then, too, the historical record for the price of a new car was broken.

The most expensive car in history was the rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold in 2022 for $142 million.