# The Money Map

By [DYLIT Chronicles](https://dylit.info/user/dylitmediabuzz)

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Ferrari's First Electric Car Sells for a Record $40 Million at Charity Auction A Record Sale in Monterey A single, specially customized example of the Ferrari Luce — the Italian marque's first fully electric production model — sold for $40 million at a charity auction held by RM Sotheby's during Monterey Car Week in California. Multiple outlets, including Electrek, reported the sale took place at RM Sotheby's Monterey auction on a Saturday night, though at least one outlet described the sale as occurring on Sunday, a minor discrepancy in reporting. The car, known as "Chassis 0," was the first production Ferrari Luce sold at the RM Sotheby's Monterey auction, becoming the most expensive new car ever sold at auction. RM Sotheby's presented 199 lots across the Monterey sale, held August 13 and 15, 2026, with the Luce as its top result. Proceeds benefited the Ferrari Foundation, a nonprofit supporting educational programs, and the auction house waived its usual buyer's premium. Why the Launch Sparked Backlash Ferrari unveiled the Luce in May, priced at roughly €550,000 (about $636,000), and the reveal drew a wave of criticism alongside a drop in the company's share price. Some commenters argued the four-door, five-seat design strayed too far from Ferrari's traditional sports-car silhouette. Ferrari's shares fell the day after the unveiling as backlash spread, with reporting noting the episode wiped out roughly $5 billion in market value in a single day. The design came from Jony Ive and Marc Newson, working through the LoveFrom studio, and some critics said it doesn't look enough like a Ferrari. According to Wikipedia's specification summary, drawn from Ferrari and other sourcing, the Luce uses four electric motors producing roughly 1,035–1,050 horsepower (figures vary slightly by source), an 800-volt, 122-kWh battery, and a claimed WLTP range of about 529 km, with a 0–100 km/h time of 2.5 seconds. The $40 Million Figure The $40 million figure represents the winning hammer bid for one specific car — not a multi-lot auction total, despite some headlines implying otherwise. All proceeds benefit educational initiatives through the Ferrari Foundation, a 501(c)(3) public charity, and the buyer's premium was waived on the sale. The result far exceeded RM Sotheby's pre-sale estimate of just over $1.1 million, making the final price roughly 35 to 36 times the estimate depending on the source's rounding. It also topped the previous record for a new car sold at auction — a bespoke Ferrari Daytona SP3 that raised $26 million in 2025 at the same Monterey event. By comparison, classic-car benchmarks remain higher: a 1962 Ferrari 250 GTO sold for $48.4 million in 2018, one of the highest prices ever paid for a car at public auction, according to Electrek's reporting. Inside the Bidding and the Car Itself Coverage of the bidding, including from attendee accounts, described a fast escalation: bidding reportedly opened around $1 million, climbed quickly through the eight-figure range, appeared to stall near $30 million, then jumped in large increments to the winning $40 million bid. Chassis 0 features an exclusive pearl-like, semi-gloss exterior finish with a personalized pigment that shifts color from green to violet depending on the light, along with a tailor-made Perla Le Mans metallic leather interior. The car was built through Ferrari's bespoke "Tailor Made" personalization program. Following the sale, the car was set to return to Maranello, Italy, before delivery to the unnamed winning bidder in the first quarter of 2027. The buyer's identity was not officially disclosed by RM Sotheby's or Ferrari; one outlet, Luxurylaunches, reported an unverified claim identifying an elderly Florida investor as the buyer, a detail that should be treated as unconfirmed. Reactions and Market Implications Ferrari shares gained as much as 1.4% in Milan trading the Monday after the sale was announced, and the stock had already advanced significantly for the year heading into the weekend. Analysts characterized the negative reaction to the Luce's unveiling as a mix of design-related criticism and market skepticism, separate from the car's ultimate commercial reception. The result offered an early signal that Ferrari's brand power, and appetite for limited, customized EVs, remained strong despite the contentious launch, according to TechSpot's analysis. It also arrived as some rival manufacturers, including Porsche and Lamborghini, have scaled back their own EV plans amid weaker demand, a contrast several outlets highlighted. Commentators cautioned against reading the $40 million charity result as a market price signal, since standard Luce production models remain priced near €550,000 — a "different universe" from the auction outcome, as one industry analysis put it.   Sources Dezeen https://www.dezeen.com/2026/08/17/ferrari-luce-ev-auction-record/ Bloomberg https://www.bloomberg.com/news/articles/2026-08-16/ferrari-s-first-electric-car-fetches-record-40-million-at-auction CNN Business https://www.cnn.com/2026/08/17/cars/ferrari-electric-luce-record-sale-intl-scli CNBC https://www.euronews.com/business/2026/08/17/ferraris-first-ev-sells-for-record-40-million-at-auction Related YouTube Videos Vehicle Virgins — "Billionaire Paid $40 MILLION for an Electric Ferrari" — https://www.youtube.com/watch?v=bH0V7VpsfJg