Ferrari Luce: 40 million dollars for a car that is worth… nothing

The Luce “Chassis 0,” the first example of the first 100% electric Ferrari, has just been sold for 40 million dollars at auction.

An amount so outrageous, even for a Ferrari, that it ultimately doesn’t mean much. And that’s precisely the point.

40 million dollars for an electric Ferrari? That’s a staggering number. The Luce “Chassis 0,” the first production model of Maranello’s new electric GT, shattered its initial estimate of 1.1 million dollars during the RM Sotheby’s sale in Monterey.

But there’s no need to calculate whether this Ferrari “is worth” 40 million. It probably isn’t. Or rather, the question makes no sense.

For what the buyer purchased is not just a Luce Ferrari. It is the zero-number Luce. The very first example of the very first electric Ferrari. A car that, unlike a Ferrari produced in a few dozen or hundreds of units, is forever unique. It’s impossible to make another first.

And in the small world of car collecting, that’s a considerable difference. What is rare is expensive. What is unique can become priceless. From there, the price essentially depends on what someone is willing to pay.

Everything is a Matter of Exception

The joke becomes even more delicious when you consider that the Luce “Chassis 0” was estimated at 1.1 million dollars. It eventually sold for nearly 40 times that amount, setting a new record for a new car sold at auction.

So, 40 million for an electric Ferrari? Outrageous, of course. But for a billionaire in search of an absolutely exceptional piece, that ultimately represents… a trifle. Especially since all proceeds from the sale will go to the Ferrari Foundation to fund educational initiatives, making the sale partially tax-deductible.

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The zero-number Luce is therefore not worth 40 million. It is worth exactly what someone was willing to pay to be the only one to say: “I have the first electric Ferrari in History.” And that, no other Luce can ever take away from him.