What's happened
Ferrari’s first electric Luce has sparked a frenzy at Monterey, with its production model selling for record sums despite mixed reviews at launch. The auction could signal a broader shift in the classic car market toward modern supercars and new generation buyers.
What's behind the headline?
Market dynamics and buyer demographics
- The surge in Luce interest reflects a broader influx of younger buyers into high-end car collecting.
- Modern supercars are commanding attention, but with volatility driven by speculative trading among millennials and Gen Z collectors.
- The market now shows a rotation away from Boomer-era favorites toward technologically advanced models.
Financial implications
- Auction results can recalibrate perceived value for limited-production EVs from luxury brands.
- The scale of Monterey activity may indicate an approaching plateau or pullback if macro conditions tighten.
Risks and opportunities for readers
- Collectors should weigh long-term value against rapid, meme-driven prices.
- Investors should diversify across eras to balance scarcity, race history, and brand prestige.
How we got here
Ferrari unveiled the Luce, its first electric vehicle, designed with help from Jony Ive. The model faced criticism for deviating from Ferrari’s traditional design ethos. The Monterey Car Week auctions are shaping expectations for the market, with mint-condition modern supercars drawing top bids.
Our analysis
BBC Business reports on the Sotheby’s Ferrari Luce auction; CNBC covers Monterey auction projections and market dynamics; The Verge discusses initial reception and subsequent sales of the Luce.
Go deeper
- Will the Luce set a new benchmark for EVs at auction?
- Are younger collectors driving price volatility in this segment?
- What does this mean for Ferrari’s broader EV strategy?
More on these topics
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Ferrari - Car manufacturer
Ferrari is an Italian luxury sports car manufacturer based in Maranello, Italy. Founded by Enzo Ferrari in 1939 out of Alfa Romeo's race division as Auto Avio Costruzioni, the company built its first car in 1940.
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Jony Ive - English designer and former Chief Design Officer at Apple (born 1967)
Sir Jonathan Paul Ive (born 27 February 1967) is a British-American designer. He is best known for his work at Apple Inc., where he was senior vice-president of industrial design and chief design officer. Ive is the founder of LoveFrom, a creative collective that works with Ferrari, Airbnb, OpenAI and other global brands. He has been chancellor of the Royal College of Art in London since 2017 and a trustee of the British Museum since June 2025. Ive joined Apple in September 1992, and was promoted to senior vice-president of industrial design in the late 1990s after the return of co-founder Steve Jobs. He was chief design officer from 2015 until his departure in July 2019. Working closely with Jobs, Ive played a vital role in the designs of products including the Apple Watch, iMac, Power Mac G4 Cube, iPod, iPhone, iPad, MacBook, and the user interface of Apple's mobile operating system iOS. He was involved with the design process of major architectural projects, including Apple's Cupertino headquarters complex, Apple Park, and Apple Stores. Born in London, Ive lived there until his family moved to Stafford when he was about 12. He studied design at Newcastle Polytechnic and later joined...