Ferrari's Bespoke Luce EV Sets $40 Million World Auction Record
Record-Breaking Auction and Impact of the Ferrari Luce EV
Overview of the Historic Sale
MILAN, Aug 17 (Reuters) - Ferrari has sold at auction a one-off, bespoke version of the Luce, its first fully electric vehicle, for $40 million, the Italian luxury sports car maker said, adding that the money will be used for education projects to help young people.
The Buyer: Herbert A. Wertheim
Profile of the Winning Bidder
U.S. billionaire investor and Ferrari collector Herbert A. Wertheim, an optometrist and founder of optical lens technologies manufacturer Brain Power Inc., bought the vehicle at an auction during Monterey Car Week.
About the Auction Event
Partnership and Timing
The auction, in partnership with RM Sotheby's, came as Ferrari seeks to build momentum behind the Luce, which was unveiled in May as the most radical product launch in the company's history, but was met with a lukewarm reception.
Ferrari Luce: Reception and Debate
Market and Community Reactions
At its launch, the €550,000 ($638,400) five-seat, four-door EV triggered a heated debate among Ferrari enthusiasts, analysts and on social media, drawing criticism from purists over its unconventional styling and its break with the marque's combustion-engine heritage.
Clientele Response
The reaction prompted questions about whether wealthy clientele would embrace a fully electric Ferrari, but the company last month said it was "very pleased" with orders for the Luce, although it did not provide figures.
Significance of the Auction Record
Comparison to Previous Records
The auction price for the one-off vehicle — known as "Chassis 0" and created by Ferrari's Tailor Made division and design centre — set a world record for a new car sold at auction, the company said on Sunday.
The price exceeded the $26 million fetched by a one-off Ferrari Daytona SP3, which was also bought by Wertheim last year.
Charitable Impact
Proceeds and Beneficiaries
The company said proceeds from the sale would support education projects in the United States and elsewhere through its Ferrari Foundation.
Additional Information
($1 = 0.8615 euros)
(Reporting by Giulio Piovaccari. Editing by Gavin Jones and Mark Potter)