A Divisive Electric Ferrari Just Smashed the Auction Record at $40 Million

The Ferrari Luce electric car auction has produced a result that few would have predicted given the reception the vehicle received when it was unveiled. The first electric car Ferrari has ever built sold for $40 million, roughly £29.5 million, at a charity sale in California.

That figure establishes a new record for a new vehicle sold at auction, and it exceeds the car’s typical price by more than 35 times.

A Controversial Car Finds an Enthusiastic Buyer

What makes the result striking is how thoroughly the Luce was criticized following its launch in May.

Commentators argued the vehicle departed from the design language that has defined Ferrari for decades. The complaints centred on two features in particular: the battery-powered drivetrain, which eliminates the engine note central to the brand’s identity, and the five-seat configuration, which pushes the car toward a category Ferrari has historically avoided.

The design came from Sir Jony Ive, the British designer best known for shaping the iPhone at Apple. His involvement was itself a signal that Ferrari was willing to look outside its own traditions.

The Sale Details

RM Sotheby’s handled the auction, and the vehicle in question was not a standard production model.

The car offered was the first production example of the Luce, finished in white with special wheels, customised brakes and bespoke components throughout. The auction house described it as an unbeatable opportunity to own that first unit.

The buyer’s identity has not been disclosed.

All proceeds from the sale are being directed to the Ferrari Foundation’s educational programmes. Sotheby’s characterized the transaction as a tangible expression of innovation, responsibility and long-term vision for future generations.

A Launch That Moved Markets

The Luce’s introduction ranked among the most significant new car launches in recent years, marking the prancing horse’s entry into an electric vehicle sector currently dominated by Tesla and Chinese manufacturers.

Ferrari treated the occasion accordingly. Italian President Sergio Mattarella and Pope Leo were both invited to view the vehicle.

The reception, however, did not match the ceremony. Ferrari’s share price fell the day after the unveiling as criticism mounted.

Who Objected, and How Strongly

The pushback came from politically and commercially significant figures rather than only from enthusiasts.

Italy’s deputy prime minister Matteo Salvini joined the chorus of critics. So did Luca Cordero di Montezemolo, the former Ferrari chairman, who warned that the car risked destroying a legend.

Criticism from a former chairman carries particular weight, given that his tenure shaped much of the modern brand identity now being questioned.

Ferrari’s Response

The company has defended the direction. Chief design officer Flavio Manzoni argued in a May interview that criticism forms a natural part of any innovation process, and expressed confidence that opinion would shift as people spent more time with the car.

Commercial data appears to support at least part of that position. Ferrari has not publicly stated its sales target for the Luce, but according to a Financial Times report, the company has already met this year’s goal, driven substantially by strong demand from China.

That detail is worth sitting with. The market least attached to Ferrari’s combustion-era heritage and most comfortable with premium electric vehicles has proven the most receptive to the model.

How the Record Compares

Ferrari has a well-established habit of topping auction results, and this sale continues a pattern rather than breaking one.

In 2025, a bespoke Ferrari Daytona SP3 supercar raised $26 million for the carmaker’s education initiatives, setting the previous record for the highest price paid for a new car at auction. The Luce has now surpassed that figure by a considerable margin.

The all-time auction record for any car remains well beyond both. A 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, one of the rarest vehicles in existence, sold for $142 million in 2022.

What the Result Actually Tells Us

Charity auctions operate under different dynamics than ordinary sales, and a $40 million bid reflects motivations beyond the vehicle itself. Donors at that level are purchasing prestige, philanthropic recognition and a genuinely unique object.

Still, the outcome complicates the narrative that emerged around the Luce in May. A car described by critics as a betrayal of the brand attracted the highest price ever paid for a new vehicle at auction.

Whether that represents genuine enthusiasm for Ferrari’s electric future or simply confirms that first-of-anything Ferraris hold their appeal regardless of what powers them is a question the next few years of sales figures will answer more reliably than a single lot in California.