The Ferrari Luce Just Sold for $40 Million. Here's Why That's Not an Investment.

At Monterey Car Week, RM Sotheby's sold the first production Ferrari Luce. Chassis 0 for $40,000,000. The pre-sale estimate was $1.1 million. The car's actual retail price starts at $640,000. Someone paid 62 times the list price.

The Luce is Ferrari's first fully electric vehicle, designed in collaboration with LoveFrom. the studio of Jony Ive, Apple's former design chief. It produces over 1,000 horsepower. It has four doors. It caused a significant backlash when it was revealed in May 2026, with Ferrari's stock price dipping temporarily on the day. It is, by consensus, not the most beautiful car Ferrari has ever made.

So why did someone pay $40 million for it?

Almost certainly not because they think it is a good investment. The buyer almost certainly paid $40 million to signal something to Ferrari. A $40 million charitable donation to the Ferrari Foundation is not a purchase. It is a relationship. It is the most expensive way imaginable to demonstrate to Maranello that you are the kind of person who should receive an allocation for the most limited, most desirable Ferraris for the next decade. A $40 million donation buys influence. It buys access. It does not buy a car that will return $40 million.

All proceeds went directly to the Ferrari Foundation. A charity supporting educational programmes. The buyer received a Tailor Made Luce in an exclusive Madreperla Semi-Gloss finish that shifts from green to violet depending on the light, with Le Mans metallic leather in Perla. It is genuinely beautiful. It is not coming back at auction for $80 million.

This is not a viable investment strategy. It is not a model to follow. It is a demonstration of wealth at a level that removes the concept of return on investment entirely. For anyone buying or considering a modern Ferrari at any price point the lesson is the opposite: buying a new Ferrari at or above list because of its novelty or its first-in-market status is not an investment thesis. The SF90 Spider proved that. The Revuelto has proved it. And the Luce, at $640,000 retail, is not investment grade. It is a remarkable piece of automotive history and it will depreciate.

The cars that don't depreciate are the ones that are already finished. Already rare. Already understood by the collector market as irreplaceable. The Luce is none of those things yet.

I've spent a significant amount of time putting together a non-generic list of the 100 best investment cars to buy in 2026. Under-appreciated, last of their kind, and where the market of buyers is growing. 100 cars that won't depreciate.

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