In brief
Ferrari’s first all‑electric model, the Luce, was sold at a RM Sothe’s auction in California for a staggering $40 million, setting a new record for a car sold at auction. The custom, white‑finished, five‑seat vehicle had bespoke parts and was praised for its design under Sir Jony Ive. While the sale raised huge charitable proceeds for Ferrari’s foundation, the launch drew backlash from traditionalist critics, including senior Italian officials, who accused the brand of abandoning its identity. Despite the backlash, the Luce achieved strong demand, particularly in China, and the auction sale marked a notable moment in Ferrari’s shift toward electric mobility. The record price surpassed previous high‑action vehicles such as a 1955 Mercedes‑Benz 300 SLR, showing the exotic market’s appetite for unique prestige cars.
Ferrari’s electric Luce was auctioned by RM Sothe’s in California on 17 August 2026 for a record £29.5 million (US$40 million). The one‑off, white‑finished, five‑seat model was a bold departure from Ferrari’s usual combustion‑engine lineup and featured bespoke wheels and brakes.
The sale more than 35 times the normal retail price of a Luce, a milestone that highlighted how rare electric vehicles can be priced in the high‑end fashion market when backed by a strong image and designer pedigree.
The auction was conducted to support the Ferrari Foundation’s education programmes; all proceeds went to charity. Sophic details, including the custom luminosity and Jony Ive’s influence, drew critics who claimed the car “risked the destruction of a legend.” The backlash included comments from Italy’s Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo.
Ferrari’s chief design officer, Flavio Manzoni, pointed out that criticism is part of the innovation process and that the Luce will eventually win appreciation. Despite a temporary dip in shares after the launch, Ferrari reported hitting its sales target this year, largely due to strong demand in China.
The auction record also surpassed an earlier high‑price sale of a Ferrari Daytona SP3 supercar, which fetched US$26 million in 2025. Even more impressive, the 1955 Mercedes‑Benz 300 SLR Uhlenhaut Coupé was sold for US$142 million in 2022 – the previous record for a new car at auction.
