The first fully electric Ferrari, the Ferrari Luce, sold for a record US$40 million at an auction in Monterey, California, this past Saturday [1], [2], [3].
The sale marks a historic milestone for the Italian manufacturer as it transitions into the electric era. The price reflects the car's status as a pioneer model and the intense interest surrounding Ferrari's departure from internal combustion engines.
The vehicle was sold through RM Sotheby’s during Monterey Car Week [1], [2]. The final hammer price of US$40 million, approximately €34.5 million [1], far exceeded initial expectations. According to reporting from BFMTV, the final price was 36 times the car's original value and 60 times its catalogue price [1]. Other reports indicated the total was 40 times the auction estimate [5].
All proceeds from the sale were pledged to charitable organizations [1], [5]. The high valuation is attributed to the historic significance of the Luce as the first 100% electric model produced by the brand [1], [2].
The auction took place on Aug. 15, amidst a backdrop of controversy regarding the brand's shift toward electrification [5]. While some enthusiasts have contested the move away from traditional engines, the bidding war in California suggests a strong market appetite for the brand's new direction [5].
The event in Monterey is part of a wider trend of high-value automotive auctions that coincide with the annual car week in California [2]. The Ferrari Luce now stands as one of the most expensive electric vehicles ever sold at public auction [1], [3].
“The first fully electric Ferrari, the Ferrari Luce, sold for a record US$40 million.”
This record-breaking sale signals that the luxury collector market views Ferrari's first electric vehicle as a historical artifact rather than just a transport tool. By commanding a price multiple of 36 to 60 times its original value, the Luce demonstrates that 'first-of-kind' status can override the traditional preference for internal combustion engines in the high-end car market.
