Ferrari's first electric car, the Luce chassis 0, sold for $40 million [1] during an RM Sotheby's auction in Monterey, California, on Saturday night.
The sale marks a historic milestone for the automotive industry by setting a record price for a new electric vehicle. It signals a strong appetite among ultra-high-net-worth collectors for electrified luxury, even from a brand historically rooted in internal combustion engines.
The auction took place during Monterey Car Week on Aug. 16 [1]. The final hammer price of $40 million [1] represented a staggering increase over the initial expectations for the vehicle. The pre-sale estimate for the car was set at $1.1 million [1], meaning the final price was 36 times the estimated value [1].
When compared to the standard retail pricing for the model, the result is even more pronounced. The sale price was 62 times the Ferrari list price [1]. The Luce chassis 0 is the first production chassis of the new electric line, making it a unique piece of automotive history.
RM Sotheby's handled the event in Monterey [2]. While the price reflects the prestige of the Ferrari brand and the rarity of a "chassis 0" vehicle, the nature of the transaction was philanthropic. All proceeds from the sale were pledged to charitable causes [1], [2].
The event occurred amid the broader festivities of Monterey Car Week, an annual gathering of the world's most expensive and rare automobiles. The Luce EV has been a point of discussion among enthusiasts since its unveiling, and this auction result provides a concrete valuation for the first unit of the series [2].
“The Luce EV chassis 0 sold for $40 million, more than 36 times its pre‑sale estimate.”
This auction result demonstrates that the 'collector' value of a vehicle can transcend its technical specifications or retail price, especially when tied to a brand's first foray into a new technology. By achieving a price 62 times its list value, Ferrari has successfully transitioned its brand prestige into the electric era, proving that the scarcity of a first-edition EV can command the same—or higher—premiums as classic gasoline-powered Ferraris.
