Controversial Ferrari Luce EV Designed By Jony Ive Sells For $40 Million

by Aaron Leong — Monday, August 17, 2026, 11:35 AM EDT

First Ferrari Luce sold at Sotheby's - Image: Sotheby's

Ferrari's first-ever electric car, the Luce, as controversial as it is, has shattered world records by selling for $40 million at a Sotheby's charity auction during Monterey Car Week, making it the most expensive new vehicle ever sold under the hammer.

Rear quarter view of the Ferrari Luce - Image: Sotheby's

Bidding for "Chassis 0," the very first production chassis of the Luce, blew far past its initial pre-sale estimate of $1.1 million, eventually reaching a final price roughly 62 times the base vehicle's sticker price ($640,000). As this was a charity bid, Sotheby's waived its buyer's premium, ensuring that the full $40 million went directly to The Ferrari Foundation to fund educational initiatives. The winning bid trounced the previous auction record for a new car, which was actually set last year at the same Monterey event for a custom Ferrari Daytona SP3 that sold for $26 million.

For what it's worth (get it?), the vehicle is a bespoke creation built through Ferrari’s Tailor Made division and styled around the concept of light. Designed in collaboration with LoveFrom, the creative firm led by former Apple design chief Sir Jony Ive and Marc Newson, Chassis 0 sports an exclusive Madreperla Semi-Gloss paint job with special pigments that shift between green and violet hues depending on the light.

Inside, the five-seat interior features Swiss-sourced Perla Le Mans metallic leather, with Grigio Corvara accents. The four-door car pushes out 1,050 horsepower across four electric motors to reach 62 mph in 2.5 seconds.

Regular and coach doors allows access to the interior space - Image: Sotheby's

When Ferrari unveiled the Luce in May, it faced intense skepticism from traditionalists and purists who balked at the awkward shape and complete shift away from combustion engines, a reception that initially sent Ferrari shares sliding. Former Ferrari chairman Luca di Montezemolo publicly criticized the direction, while online debates raged over its pedestrian, minimalist design.

Yet, market demand (or hype) offers a different story. Ferrari's entire 2026 allocation of nearly 500 Luces sold out within two months of launch, mostly to tech entrepreneurs and Asian collectors.

Winning bidder Dr. Herbert Wertheim, coincidentally the same billionaire inventor who bought the $26 million Daytona SP3, won't drive Chassis 0 off the lot immediately. The car will first return to Ferrari's headquarters in Maranello, Italy, for final assembly before official delivery in early 2027.