Ferrari's First Luce EV Production Unit Sold for $40 Million at Sotheby's Auction, More Than 36 Times Its Estimate
Key takeaways
- Ferrari’s first production Luce chassis sold for $40 million—36× its pre‑sale estimate—showing that the brand can command extreme premiums for its EVs while supporting charity, but investors remain cautious about the…
- $40,000,000 sale price
- 36× pre‑sale estimate
- $1.1 million pre‑sale estimate
What happened
Ferrari sold its first production Luce ‘Tailor Made’ electric vehicle chassis—Chassis 0—for $40 million at an RM Sotheby’s auction in Monterey, California, during Monterey Car Week. The sale price was more than 36 times the pre‑sale estimate of about $1.1 million and far above the manufacturer’s listed price of roughly $640,000. Ferrari announced that all proceeds would be donated to The Ferrari Foundation, a 501(c)(3) charity. The vehicle, designed by former Apple design chief Jony Ive and…
Why it matters
The $40 million sale demonstrates that Ferrari’s ultra‑exclusive EVs can command premium prices far above production costs, suggesting strong demand among ultra‑wealthy collectors. It also signals Ferrari’s commitment to the EV transition, as the vehicle is a flagship of its Luce program. The charitable donation…
Short-term and longer-term
Short-term. Ferrari’s stock dipped 0.66% after the auction, indicating short‑term volatility as investors digest the high EV price and the company’s EV strategy.
Longer-term. The $40 million sale signals Ferrari’s confidence in the Luce EV’s luxury positioning and its willingness to monetize high‑end models.