In a landmark event, Ferrari's inaugural electric car was auctioned for a staggering $40 million on Monday at a charity event held in California. This sale established a new world record for the highest price ever paid for a new vehicle at auction.
The prestigious auction house, RM Sotheby's, sold the Ferrari Luce during the 2026 Monterey Auction for a price that exceeds the typical market value of the model by more than 35 times, which is generally around $640,000.
The Unique "Chassis 0" Ferrari Luce
This particular Luce isn't just any model; it's the exclusive "Chassis 0," the first production chassis of the program, distinguished by a dedicated plaque and customized through Ferrari's Tailor Made program.
The exterior finish, known as Madreperla Semi-Gloss, was specially developed for this car and features an iridescent pigment that shifts from green to violet depending on the light's angle. Inside, the car boasts metallic Le Mans leather in Perla color, crafted from select Swiss hides, paired with secondary elements in Grigio Corvara, deviating from the traditional black interior.
Proceeds for a Cause
All proceeds from the auction are slated to support The Ferrari Foundation's educational programs. RM Sotheby's has chosen to keep the identity of the buyer confidential.
The Luce was officially unveiled in May of this year, marking Ferrari's entrance into the electric vehicle market—a sector currently led by Tesla and Chinese manufacturers.
Technical Specifications and Design
This model is a four-door, five-seat sedan equipped with four electric motors—one for each wheel—boasting over 1,000 horsepower, a top speed exceeding 310 km/h, and a range surpassing 530 kilometers.
Its design was crafted in collaboration with British designer Sir Jony Ive, renowned for his work on the iPhone and iPod at Apple, through his studio LoveFrom, which partnered with Ferrari in 2021.
Controversy and Market Impact
The debut of the model sparked significant controversy. Italian Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo were vocal critics of the vehicle.
Montezemolo even suggested that the car could "threaten the destruction of a legend" and recommended the removal of the iconic prancing horse emblem. Following the launch, Ferrari's stock plummeted by 8.4% the next day.
Despite the backlash, Ferrari's design chief Flavio Manzoni defended the project, noting in May that criticism is part of the innovation process and that the public would eventually come to appreciate the Luce. According to a Financial Times report cited by the BBC, Ferrari had already met its sales targets for the year, driven by robust demand from China.
RM Sotheby's hailed the auctioned vehicle as "a tangible expression of innovation, responsibility, and long-term vision for future generations."
The $40 million price tag surpasses the previous record for a new car sold at auction, which was also held by Ferrari: a Daytona SP3 Tailor Made that went for $26 million in August 2025, also in Monterey and benefitting the same foundation.
The all-time auction record for automobiles remains with the 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which was sold in 2022 for approximately $142 million.
Insights into Ferrari's Electric Model Auction
What makes the Ferrari Luce auctioned so special?
The Ferrari Luce auctioned is unique because it is "Chassis 0," the first production chassis, customized through Ferrari's Tailor Made program, with a distinctive exterior and interior design.
What was the purpose of the auction proceeds?
The funds raised from the auction are intended to support educational programs through The Ferrari Foundation.
How did the public react to the Ferrari Luce?
The public reaction was mixed, with some Italian officials criticizing the model, while Ferrari's design chief defended it as part of the innovation process.