Ferrari's Custom Electric Model Sold for $40 Million at Auction, Challenging Market Expect

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money· A press review of 2 outlets

  1. A personalized model of Ferrari's first fully electric vehicle has sold for $40 million in a charity sale, defying market skepticism and setting a record for a new car sold at auction.

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    BBC Business

    Published Ferrari's first ever all-electric car has fetched $40m (£29.5m) in a charity sale, setting a record for a new car sold at auction.

  2. The Sotheby's auction in California raised more than 35 times the usual price of a Ferrari Luce. The auction catalogue said it is a special model featuring a unique finish and bespoke parts.

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    CNBC

    The Sotheby's auction of the Luce "tailor made" at Monterey Car Week in California said the lot marked an "unrepeatable opportunity" to acquire the first production chassis of the Luce program, which featured a unique semi-gloss finish and other bespoke parts.

  3. Sotheby's did not name the buyer of the custom Luce. The BBC has contacted the auction house and Ferrari for more information.

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    CNBC

    The auction house did not name the winning buyer of the luxury car and said the proceeds would be donated to Ferrari's foundation of educational programs. Ferrari's "tailor made" program is an exclusive initiative for cars customized to a buyer's precise specifications.

  4. The unveiling of the Luce sparked a negative market reaction, with analysts citing a mix of "design hate" and the classic market adage of "travel and arrive," noting that Ferrari's stock price had risen significantly ahead of launch.

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    BBC Business

    But Ferrari's shares dropped the day after the Luce's launch, following criticism of the car.

From the margins

2 details only one outlet reported

Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.

  1. 01 CNBC

    Read more Ferrari CEO Benedetto Vigna said at the time that the Maranello, Italy-based company respected the different needs and wishes of its customers, adding that existing clientele would be interested in the Luce and the carmaker would welcome new buyers thanks to the fully electric model.

  2. 02 BBC Business

    The unveiling of the Luce was seen as one of the biggest launches of a new car in recent years.

Assembled from 4 corroborated claims drawn from 2 independent outlets. Every passage above is taken verbatim — Dorothy doesn't paraphrase or summarize.

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Sources (2)

  • bbc-biz
  • cnbc

Original Articles (4)

Center Ferrari Luce: Polarizing EV debut becomes a $40 million collector’s item — CNBC
Center How long will software-defined cars last? The auto industry doesn't know yet — CNBC
Center Ferrari's first ever electric car sold for record $40m at auction — BBC Business
Center Electric vehicle sales targets could be cut after pressure from car makers — BBC Business