Money
Ferrari's First Electric Car Sells for a Record $40 Million
A single car just fetched more than many startups raise in a funding round: Ferrari's debut electric model, the Luce, sold for $40 million at auction, becoming one of the priciest cars ever sold.
$40 millionAuction price paid for Ferrari's first electric car
The facts
- 1Ferrari's first fully electric car, the Luce, sold for a record $40 million at a public auction, BBC News reported.
- 2The Luce broke from Ferrari's signature dramatic sports-car styling, drawing backlash from some car critics even as bidders competed hard.
- 3The $40 million price is far above the several-hundred-thousand-dollar cost of a standard new Ferrari, making the Luce an auction outlier.
- 4The sale shows collectors treating rare, first-of-a-kind vehicles as investment assets, much like rare art or vintage watches.
- 5Headline auction prices don't reflect what typical buyers pay for electric vehicles, and collectible car markets can be volatile with no guaranteed return.
Why it matters
The sale reveals how buyers treat rare debut vehicles as alternative investments, but such headline prices don't reflect everyday EV costs, and collectible markets can swing sharply without warning.
Sources
- BBC News
- Ferrari
