Ferrari’s widely mocked EV breaks auction record
The custom Luce sold for 36 times its original estimate of $1.1 million, according to Sotheby’s.
• less than 3 min read
This is the part of the rom-com when the bullied nerd stuns at prom: A custom model of Ferrari’s first electric vehicle, the Luce, sold for $40 million over the weekend, becoming the most expensive new car ever purchased at auction. It’s quite a recovery after it debuted as a laughingstock less than three months ago.
ICYMI: Co-designed by former Apple design chief Jony Ive, the Luce was highly anticipated but failed to impress many Ferrari fans when it was unveiled in May. The internet compared the car to a Nissan Leaf, and Ferrari’s former chairman said it didn’t deserve the Prancing Horse badge.
But there’s a buyer for everything. The custom Luce sold for 36 times its original estimate of $1.1 million, according to Sotheby’s. The auction house didn’t name the bidder but did say that…
- The personalized model is finished with a pearl-like gloss that reflects green or violet in different lighting. So maybe the buyer is the Joker.
- Proceeds from the sale will go to The Ferrari Foundation’s educational programs. So maybe the buyer isn’t the Joker.
The Luce is selling: Ferrari already hit its annual target for regular sales of the $626,000 Luce, thanks to strong demand in China, the Financial Times reported.—ML
Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.
By subscribing, you accept our Terms & Privacy Policy.
Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.
By subscribing, you accept our Terms & Privacy Policy.