KATHMANDU : Ferrari’s first-ever electric car, the Luce, has sold for $40 million at a charity auction in California. The sale set a new record for the highest price paid for a new car at auction.
The one-off Ferrari Luce was sold at an RM Sotheby’s auction. The sale price was more than 35 times the car’s regular price. All proceeds will go to the Ferrari Foundation’s education programs.
The buyer of the first-ever Luce has been identified as 87-year-old American billionaire Dr. Herbert Wertheim, widely known as ‘Dr. Herbie’. An ophthalmologist, inventor and long-term investor, Wertheim has built a fortune through decades of investing and innovation.
Forbes has described Wertheim as one of the lesser-known great investors who built substantial wealth through more than five decades of stock-market investing.
The auctioned Luce is a special one-off model with a unique white finish and custom parts. It gets special wheels and customized brakes.
Ferrari unveiled the Luce in May as its first fully electric model. The launch attracted huge attention as it marked the brand’s entry into the EV market.
The car was designed with input from British designer Sir Jony Ive, who is best known for his work on Apple’s iPhone and other products.
The Luce has also faced criticism from some Ferrari fans. Some believe the electric powertrain and five-seat layout move the car away from Ferrari’s traditional character.
Ferrari has not revealed its sales target for the Luce. However, a Financial Times report said the company had already reached its target for this year, helped by strong demand from China.
The $40 million sale has broken the previous record for a new car sold at auction. In 2025, a special Ferrari Daytona SP3 sold for $26 million, with the proceeds going towards Ferrari’s education initiatives.
The Luce is not the most expensive car ever sold at auction. That record remains with the 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, which sold for $142 million in 2022.
