Ferrari’s debut electric model fetches $50 million at Monterey auction

At a Sotheby’s charity sale held during Monterey Car Week, Ferrari’s first fully electric car, the Luce, commanded $50 million, establishing a new benchmark for the most expensive new vehicle sold at auction. The Luce, unveiled in May with a list price of €550,000, features a four-door layout, more than 1,000 hp and styling created by LoveFrom, the design firm founded by former Apple chief Jony Ive. The auction price eclipsed the 2025 record of $26 million set by a bespoke Daytona SP3.

Ferrari’s chief executive Benedetto Vigna noted that the model is already receiving orders from both longtime and new customers, despite earlier criticism that had pressured the company’s stock. The sale underscores Ferrari’s shift from its traditional combustion-engine heritage toward electrified offerings. Proceeds from the auction were directed to charity, highlighting strong market appetite for high-end electric supercars.