Electric Ferrari sold for $40 million at charity auction
The first Ferrari Luce electric car, launched three months ago, was sold at a Sotheby's auction for $40 million. The final price was 35 times higher than the vehicle's standard retail value.
The first electric car from Ferrari, which was launched three months ago and received mocking reactions, was sold for $40 million at an auction held to raise funds for charity, according to a report by the BBC. The car, the Ferrari Luce, was created through a collaboration between the luxury brand and former Apple designer Jony Ive. It was sold for a sum 35 times higher than its regular price, breaking the record for a new car sold at auction.
However, it is still far from breaking the overall record for the most expensive car ever sold at auction. That title is held by a rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, which was sold in 2022 for $142 million. The auction was held in California by Sotheby's, and the proceeds were donated to the Ferrari educational foundation.
Sotheby's did not disclose the buyer of the car, which is customized and includes a unique white finish and bespoke parts. The vehicle represents Ferrari's first entry into the electric car market, which has so far been dominated by Tesla and Chinese manufacturers.
However, the highly publicized launch, which even included an invitation for the Pope to view the car, turned into a display of criticism regarding its design. Italian Deputy Prime Minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo claimed that the company is "risking the destruction of its heritage."
The CEO of Ferrari responded at the time, stating:
"The company respects the different needs and desires of its customers. We believe that clients will be interested in the Luce, and the company expects to attract new customers thanks to this electric model."
Last month, Ferrari raised its full-year forecast against the backdrop of high demand for customization.
