ON
← Back to feed
The first all-electric Ferrari sold at a charity auction for $40 million - a record
Italy🏛️ PoliticsCenter6 days ago

The first all-electric Ferrari sold at a charity auction for $40 million - a record

The first fully electric vehicle produced by Ferrari, the 'Luce', was sold at a charity auction held during the Monterey Car Week in California for $40 million, setting a new record for the most expensive new car ever sold at auction. This sale, reported by Bloomberg citing Ferrari's statement, surpassed the previous record set last year when a customized Ferrari Daytona SP3 was sold for $26 million. The buyer of both cars is billionaire Republican Herbert Wertheim, known as 'Dr. Herbie' in the U.S., who has made his fortune through inventions including UV-absorbing lens technology. The Luce marks a departure from traditional Ferrari sports cars powered by combustion engines. When Ferrari unveiled the Luce at a price of €550,000 ($636,356), it faced criticism and led to a temporary drop in the company's stock price, which later recovered after Ferrari revised its annual forecasts and reported strong results. Ferrari stated that all proceeds from the sale will be donated to educational projects globally, including initiatives like M-TECH Alfredo Ferrari, collaborations with Save the Children for school rebuilding efforts, and partnerships with organizations focused on education in欠發

A unique electric vehicle from Ferrari, known as the "Tailor Made," was sold at auction during the Monterey Car Week for $40 million, setting a new record for the highest price ever paid for a new car at auction. This sale, conducted by Sotheby’s, surpassed the previous record held by another exclusive Ferrari, the Daytona SP3, which had fetched $26 million in a similar auction last year. The proceeds from the sale will go toward charitable initiatives aimed at education and community development around the world. The "Tailor Made" represents Ferrari’s first fully electric vehicle, marking a significant shift from its traditional focus on combustion-engine sports cars. When unveiled in May, the Luce model came with a base price of €550,000, approximately $636,356. Its introduction sparked both praise and criticism within the automotive industry. Despite initial skepticism, the company has since reported improved stock performance following revised financial forecasts and positive results. Orders for the Luce have been proceeding in line with expectations, indicating growing interest in the brand’s electric offering. The buyer of both the "Tailor Made" and the Daytona SP3 is Herbert Wertheim, a Republican billionaire known as "Dr. Herbie." He is renowned for his contributions to technology and philanthropy. Wertheim gained fame in the late 1960s for inventing a patented process involving UV-absorbing coatings for plastic eyewear lenses, which led to the widespread adoption of UV-protective sunglasses. His innovation contributed to the founding of Brain Power Incorporated in 1970, further cementing his legacy in both business and science. Ferrari announced that all funds generated from the sale will support educational projects globally. Among these initiatives is the M-TECH Alfredo Ferrari, a training center set to open in Maranello, Italy, in 2029. The center aims to inspire and educate young talents worldwide, promoting technological innovation in the automotive sector. Additional programs include collaborations with Save the Children to aid in rebuilding the Aveson Charter School after wildfires in California in 2025, expanding literacy and math programs in low-income areas of eastern Texas, and working with the Second Round Foundation, a nonprofit co-founded by NBA player Jalen Brunson, to promote education in underserved urban communities in New York City. The sale also includes funding for after-school reading and mathematics programs through The Boys and Girls Clubs, targeting low-income regions in southern Florida. These efforts reflect Ferrari’s commitment to leveraging its success for broader social impact, aligning with a trend among luxury brands to engage more actively in global charitable causes. The auction took place this weekend during the Monterey Car Week in California, drawing attention from collectors and enthusiasts alike. The sale underscores the increasing value placed on rare and custom-made vehicles, particularly those representing technological advancements such as electric powertrains. As the automotive industry continues to evolve, such auctions highlight the intersection of heritage, innovation, and philanthropy in the luxury car market.

2 reports

Il Fatto Quotidiano logoIl Fatto QuotidianoIndependentCenterFactual 85Objective 756 days ago
The first all-electric Ferrari sold at a charity auction for $40 million - a record

The first fully electric vehicle produced by Ferrari, the 'Luce', was sold at a charity auction held during the Monterey Car Week in California for $40 million, setting a new record for the most expensive new car ever sold at auction. This sale, reported by Bloomberg citing Ferrari's statement, surpassed the previous record set last year when a customized Ferrari Daytona SP3 was sold for $26 million. The buyer of both cars is billionaire Republican Herbert Wertheim, known as 'Dr. Herbie' in the U.S., who has made his fortune through inventions including UV-absorbing lens technology. The Luce marks a departure from traditional Ferrari sports cars powered by combustion engines. When Ferrari unveiled the Luce at a price of €550,000 ($636,356), it faced criticism and led to a temporary drop in the company's stock price, which later recovered after Ferrari revised its annual forecasts and reported strong results. Ferrari stated that all proceeds from the sale will be donated to educational projects globally, including initiatives like M-TECH Alfredo Ferrari, collaborations with Save the Children for school rebuilding efforts, and partnerships with organizations focused on education in欠發

Bias read (Center): While the article discusses a high-profile sale involving a wealthy Republican donor and mentions Ferrari's strategic shift toward electric vehicles, it does not take a clear ideological stance. The focus remains on the event itself, the financial aspects, and the charitable impact, with balanced,客观

Why factuality (85): The article reports on the sale of the first fully electric Ferrari at an auction for $40 million, citing Bloomberg as a source. It mentions the auction was held by Sotheby’s during Monterey Car Week and notes the previous record of $26 million for a customized Ferrari Daytona SP3. The buyer is iden

Why objectivity (75): The article presents the sale as a significant milestone for Ferrari, highlighting the shift toward electric vehicles. It provides background on the buyer and the company’s history, but uses emotionally charged language such as 'record' and 'rottura con la tradizione,' which may lean toward celebrat

la Repubblica logola RepubblicaIndependent🔒CenterFactual 75Objective 607 days ago
Ferrari Luce, record auction: sold for $40 million, is the most expensive new car in history

A unique electric version of Ferrari's first electric car, known as 'Tailor Made,' was sold at auction during the Monterrey Car Week by RM Sotheby's for $40 million, setting a new record for the most expensive new car ever sold. This surpasses the previous record held by another Ferrari model, the Daytona SP3. The sale proceeds were donated to charity.

Bias read (Center): The article reports on a high-profile automotive auction event without overtly favoring any political stance. While the sale of luxury vehicles can sometimes be tied to broader economic or cultural narratives, the focus remains on the transaction itself and its charitable impact. There is no clear倾向

Why factuality (75): The article reports that a unique electric Ferrari 'Tailor Made' was sold at auction for $40 million during the Monterrey Car Week by RM Sotheby's. It mentions this sets a new record for a new car and references the previous record holder as a Daytona SP3. While the details align with typical auctio

Why objectivity (60): The article presents the sale as a significant achievement, using phrases like 'record' and 'mai una cifra simile', which may imply a positive spin. The focus on the high price and the uniqueness of the car suggests a promotional tone rather than purely objective reporting.

How each side covered it

The same event, grouped by the political lean of the outlets covering it.

How each side covered it

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Covered around the world

The same event as reported in other countries.

Covered around the world

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Claims check

Key factual claims, and how many sources assert vs dispute each.

Claims check

Support independent, bias-aware news and unlock the social pulse, community voting, and every other Supporter feature.

Become a Supporter

Keep the news honest.

ObjectiveNews is reader-funded and ad-free — we show you the bias instead of hiding it. Support independent journalism for €4/month.

Become a Supporter

Related stories