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Ferraris worth £8m auctioned for Lifeboat charity Ferraris worth £8m auctioned for Lifeboat charity
(about 9 hours later)
Two rare Ferraris thought to be worth £8m will be auctioned later, with the proceeds going to the Royal National Lifeboat Institution (RNLI).Two rare Ferraris thought to be worth £8m will be auctioned later, with the proceeds going to the Royal National Lifeboat Institution (RNLI).
Businessman Richard Colton left the cars to the charity in his will in what could become the most generous gift the RNLI has ever received.Businessman Richard Colton left the cars to the charity in his will in what could become the most generous gift the RNLI has ever received.
Described as "a shy and private man", he was said to be nervous of the sea.Described as "a shy and private man", he was said to be nervous of the sea.
He hoped to raise enough money to fund a new lifeboat to be named after himself and his late wife Caroline. He hoped to raise enough money to fund a new lifeboat to be named after him and his late wife Caroline.
Although there is no official valuation on the cars, two similar vehicles recently sold for a total of £8m.Although there is no official valuation on the cars, two similar vehicles recently sold for a total of £8m.
The red 1960 Ferrari 250 GT SWB was one of just ten supplied to the UK. It has been described by experts as "one of the most beautiful cars in the world" as well as one of the most valuable. The red 1960 Ferrari 250 GT SWB was one of just 10 supplied to the UK. It has been described by experts as "one of the most beautiful cars in the world" as well as one of the most valuable.
The other car, a 1967 Ferrari 275 GTB/4 was widely regarded as the best grand tourer of its time, with the Hollywood actor Steve McQueen owning one. The other car, a 1967 Ferrari 275 GTB/4, was widely regarded as the best grand tourer of its time, with the Hollywood actor Steve McQueen owning one.
Mr Colton, from Stanwick, Northamptonshire, died in March aged 82.Mr Colton, from Stanwick, Northamptonshire, died in March aged 82.
He restored both cars and driven them across Europe. He restored both cars and had driven them across Europe.
Guy Rose, legacy manager at the RNLI, said the charity was "deeply grateful and humbled" by the donation.Guy Rose, legacy manager at the RNLI, said the charity was "deeply grateful and humbled" by the donation.
"Six out of every 10 lifeboat launches are only made possible because of gifts left to us in wills, so they are vital to saving lives at sea."Six out of every 10 lifeboat launches are only made possible because of gifts left to us in wills, so they are vital to saving lives at sea.
"Mr Colton's generosity will be felt most by our volunteer crews and the people whose lives they save," he said."Mr Colton's generosity will be felt most by our volunteer crews and the people whose lives they save," he said.
The cars will be auctioned by H&H Classics at the Imperial War Museum, Duxford, Cambridge.The cars will be auctioned by H&H Classics at the Imperial War Museum, Duxford, Cambridge.