Ferrari Electric Car Luce Mocked Online, Then Sold for Record $40 Million at Auction
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Ferrari's inaugural pure electric vehicle, the Luce, debuted in May to a wave of online ridicule over its design, which critics likened to affordable mass-market electric cars, momentarily denting the company's market valuation. Yet in a striking reversal of fortunes, a specially commissioned "Tailor Made" high-customization version of the Luce commanded a staggering $40 million at a Sotheby's charity auction held during Monterey Car Week in California, establishing a new benchmark as the most expensive new automobile ever sold at auction. The remarkable result underscores the enduring power of the Ferrari brand and its legendary personalization program, even as the marque navigates its historic transition toward electrification.
Key Points
- Ferrari unveiled the Luce in May at a retail price of €550,000, with design duties handled by LoveFrom, the studio co-founded by Jony Ive, Apple's former chief design officer .
- The vehicle's design drew immediate online criticism for resembling inexpensive electric cars, prompting a decline in Ferrari's share price following the announcement .
- The "Tailor Made" customized version fetched $40 million (approximately HK$312 million) at Sotheby's charity auction during Monterey Car Week in California .
- This auction price surpassed the previous record of $26 million set by a bespoke Ferrari Daytona SP3 just last year .
- Ferrari's "Tailor Made" program enables clients to commission globally unique vehicles tailored to their precise specifications .
- The Luce represents Ferrari's first step away from traditional combustion engines toward a pure electric future .
Why It Matters
The Luce auction outcome validates Ferrari's strategy of leveraging exclusivity and bespoke craftsmanship to maintain premium positioning during the industry-wide shift toward electrification, demonstrating that even skeptical reception of a new model cannot diminish the allure of a uniquely personalized Ferrari for ultra-high-net-worth collectors .