Ferrari auctioned off the Luce for forty million dollars. The Luce is an EV. EVs are polarizing. This one polarized its way into eight figures.
Three months ago Ferrari unveiled its first fully electric car. Priced it at 550,000 euros. That's $640,000 for Americans who can't do exchange rate math. Now the Luce—presumably a different car or maybe the same car, the headline doesn't specify—sold for sixty times that amount at auction.
Polarizing is what we call things when half the people hate them and the other half also hate them but have forty million dollars. The word does heavy lifting here. It means controversial. It means divisive. It means Ferrari made an electric car and some guy with Monaco money bought it anyway.
Collector's item is code for "you can't drive this." You pay forty million dollars to park it in a climate-controlled garage next to your other cars you don't drive. Sometimes you look at it. Sometimes you don't. The value proposition is theoretical. The depreciation is also theoretical. Everything is theoretical when you're burning generational wealth on Italian engineering that goes zero to sixty in silence.
The auction happened. Someone bid. Someone else bid higher. This continued until one person had forty million fewer dollars and one electric Ferrari. The rest of us have neither the car nor the money, which statistically makes us tied for second place.
Retail traders are currently googling "how to buy fractional shares of a Ferrari" and discovering that's not how physical objects work.
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