Ferrari's First EV Fetches Record $40 Million at Auction

Q: Who dropped $40 million on a single electric Ferrari, and what groundbreaking educational initiatives will this massive donation fund?

The buyer has not been publicly identified. Ferrari, RM Sotheby’s and The Ferrari Foundation disclosed the $40 million sale of the bespoke 2026 Ferrari Luce “Chassis 0,” but not the winning bidder’s name. As for the educational impact, Ferrari has only described the proceeds broadly as funding “future educational initiatives” through The Ferrari Foundation, a U.S. 501(c)(3). Reporting tied to the sale indicates the money is expected to support Ferrari’s M-TECH Alfredo Ferrari technical education campus in Maranello, Italy, along with ongoing education programs in the United States. Additional reporting also links the foundation’s wider education mission to projects with Save the Children, including rebuilding Aveson Charter School in Altadena, California, after the Eaton Wildfire, as well as other youth-focused educational programs in Europe. But Ferrari has not announced a detailed public breakdown of how this specific $40 million donation will be allocated. So the clear answer is: the buyer remains anonymous, and the donation is earmarked for Ferrari Foundation education projects, most notably the M-TECH technical campus and related U.S. educational initiatives, though the exact spending plan has not yet been disclosed.

3 articles · Updated · Bloomberg · Aug 16

$40 million made Ferrari’s first all-electric Luce the most expensive new car ever sold at auction at Monterey Car Week in California.
Sotheby’s said the charity sale of the tailor-made car topped the previous record set in 2025, when a customized Ferrari Daytona SP3 sold for $26 million.
The result came despite criticism around Ferrari’s move into electric vehicles, with the car’s status as the brand’s first EV helping drive the bidding.