Ferrari’s first ever electric car has been sold for a record $40m at a charity auction, with all proceeds going to the Ferrari Foundation’s educational programmes.
The car, known as the Luce, was unveiled in May and faced a backlash from some commentators who felt it strayed from the marque’s traditional designs. Despite this, the car has been a commercial success, with Ferrari hitting its sales target for the year thanks to strong demand from China.
Controversy Surrounding the Luce
The Luce’s launch was seen as one of the biggest in recent years, but it was not without controversy. Italy’s deputy prime minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo were among those who criticised the car, with di Montezemolo saying it was “risking the destruction of a legend”.
However, Ferrari’s chief design officer Flavio Manzoni has defended the car, saying that critics are part of the innovation process and that he believes people will come to appreciate the Luce. The car features a unique finish, bespoke parts, and special wheels, and is seen as a “tangible expression of innovation, responsibility, and long-term vision for future generations” by Sotheby’s, the auction house that handled the sale.
Auction Record
The sale of the Luce sets a new record for a new vehicle sold at auction, surpassing the $26m paid for a bespoke Ferrari Daytona SP3 supercar in 2025. The current record for the highest price paid at auction is held by an ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which was sold for $142m in 2022.
Ferraris are known for attracting high prices at car auctions, and the sale of the Luce is seen as a significant milestone for the company. The buyer of the car was not named by Sotheby’s, but the sale is seen as a major success for Ferrari and the Ferrari Foundation.
Charity Sale
The charity sale of the Luce is seen as a major success, with all proceeds going to the Ferrari Foundation’s educational programmes. The foundation supports a range of initiatives, including education and training programmes, and the sale of the Luce will help to support these efforts.
The sale of the Luce is a significant moment for Ferrari, marking a new chapter in the company’s history as it looks to the future and the development of new technologies. The company has not disclosed its target for Luce sales, but the strong demand from China and the success of the charity sale suggest that the car is off to a strong start.
Helene Elliott is the senior reporter for News Raise. She covers Science news. She also has a keen interest in photojournalism. Helene holds a nomination for the prestigious Red Smith Award. She is married to author Dennis D’Agostino, a former publicist with the New York Mets.
