Ferrari’s debut EV breaks auction records

Ferrari’s first electric car, the Luce, sold for $40 million at a Monterey auction, more than 36 times its original estimate. - despite facing considerable ridicule upon its debut.

It was not just any Ferrari Luce that went under the hammer at RM Sotheby’s in Monterey. ‘Chassis 0’ is the first production unit of Ferrari’s inaugural battery-electric vehicle, and this combination proved to be worth a staggering $40 million to one bidder. This is despite the value of the Luce being estimated at just $1.1 million.

Even compared to its regular list price of €550,000, the premium is enormous. However, this was no ordinary sale: RM Sotheby’s waived its buyer’s premium, with the entire proceeds going to the Ferrari Foundation, which supports educational projects and other initiatives.

‘Chassis 0’ is also a unique model. Configured through Ferrari’s Tailor-Made programme, this battery-electric vehicle features ‘Madreperla Semi-Gloss’ paintwork, which shifts between green and violet depending on the light. It also includes bespoke wheels and brake callipers, as well as a custom interior. Delivery of the vehicle is scheduled for the first quarter of 2027, once Ferrari completes final assembly in Maranello.

Spectacular charity auctions have become a tradition at Ferrari. In 2025, a Daytona SP3, built in addition to the limited series, fetched $26 million in Monterey. The Luce has now surpassed this amount by around 54 percent. Even compared to historical Ferrari icons, the gap is narrowing: a 1962 250 GTO was auctioned for $48.4 million in 2018.

After its premiere in May, few would have predicted such an auction success for the Luce. Much of the criticism focused on its design, developed in collaboration with former Apple Chief Design Officer Jony Ive. Online, comparisons abounded—with the Nissan Leaf, the Fiat Multipla, a shopping trolley, and Apple’s Magic Mouse. Former Ferrari CEO Luca Cordero di Montezemolo even warned that the Luce could damage the brand’s mythos.

However, customers seem unfazed. The entire 2026 allocation of nearly 500 vehicles sold out in less than two months. Technically, the Luce delivers 772 kW of system power, accelerates from 0 to 100 km/h in 2.5 seconds, and reaches a top speed of over 310 km/h.One thing is clear: the $40 million is not a new market value for the Luce. The charity purpose, its status as a one-off, and its position as Ferrari’s first battery-electric vehicle make this auction an exceptional case. Yet who would have thought that, in the end, Ferrari enthusiasts would care less about aesthetics and more about what lies beneath?