Aston Martin, a brand that is known for its cars’ elegance and pop-culture icon status, revealed its new DB12 grand tourer at the Cannes International Film Festival, a glamorous affair that matches the panache of the Aston Martin brand. The new car, dubbed a “super tourer,” switches from being powered by a V12 to a twin-turbocharged V8 engine instead, capable of an incredible 671 horsepower. It was at the amfAR Gala in Cannes, the premier social event of the festival, where the privilege of receiving the first DB12 delivery was auctioned off for the amazing number of $1.6 million.

The auction was presented by Eva Longoria and James Marsden, and the funds raised will go towards a foundation for AIDS research seeking to develop a cure for HIV, which is a cause that the amfAR Gala has supported for decades. The car that is going to be delivered will be a special Launch Edition, finished in Iridescent Emerald, and complete with special 110th-anniversary touches from Q, as well as the opportunity for Aston Martin’s F1 drivers, Lance Stoll and Fernando Alonso to sign the car’s engine cover. This exciting auction is the beginning of an important moment in Aston Martin history.

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Gallery: Aston Martin DB12 Auction