Ferrari's first electric car sells for $40 million at auction

Retail & Consumer Retail Written by: Ian Lyall 07:44 Mon 17 Aug 2026 --> Edited by: Ian Lyall Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Ferrari ( NYSE:RACE ) View Price & Profile Ferrari’s first electric car sells for $40 million at auction Last updated: 07:44 17 Aug 2026 BST, First published: 08:02 17 Aug 2026 BST Ferrari (NYSE:RACE) ’s ( Ferrari (NYSE:RACE) first all-electric car has sold for $40 million at a charity auction, setting a record for the highest price paid for a new car at auction. The customised, tailor-made Ferrari (NYSE:RACE) Luce was sold during Monterey Car Week by RM Sotheby’s, with proceeds going to future educational initiatives. The sale offered the first production chassis from Ferrari’s Luce programme, which the auction house described as an “unrepeatable opportunity” for collectors. The car had a pre-sale estimate of $1.1 million, but sold for more than 36 times that figure and about 62 times Ferrari’s listed price for the Luce, with all proceeds going to charity. The $40 million price makes the Luce the most expensive new car ever sold at auction, surpassing a record set in 2025. The car was built as part of Ferrari's 'Tailor Made' programme, and finished in a one-off Madreperla Semi-Gloss paint that shifts from green to violet depending on the light. The result comes months after Ferrari, the Italian luxury sports carmaker , unveiled the Luce in May to a backlash from analysts and consumers. Ferrari's Milan-listed shares fell more than 8% the day after the Luce was unveiled, as investors and critics questioned whether its design remained true to the marque's identity. The auction result gives Ferrari a strong early indication of demand for its electric flagship, despite the negative market reaction following its launch. Continue reading