Ferraris auctioned for RNLI sell for £8.53m

Two rare Ferraris thought to be worth £8m have been auctioned off for £8.53m today (14 October) with proceeds going to the RNLI.

1960 Ferrari 250 GT SWB
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The first Ferrari was auctioned off for £1.93million, whilst the second went for a whopping £6.6m, making the total for both £8.53m.

Wealthy businessman Richard Colton left the cars to the charity in his will in what could potentially become the most generous gift the RNLI has ever received.

Described as “a shy and private man”, Mr Colton 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.

Although there is no official valuation on the cars, two similar vehicles recently sold for a total of £8m.

The 1967 Ferrari 275 GTB/4 was widely regarded as the best grand tourer of its time and 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.

1967 Ferrari 275 GTB/4

1967 Ferrari 275 GTB/4

Mr Colton, from Northamptonshire, died in March aged 82. He restored both cars and had driven them across Europe.

The RNLI’s chief executive, Paul Bossier said: “We are overwhelmed by the sale price of the two Ferraris, a legacy so generously gifted to our charity by car enthusiast Richard Colton.

“His legacy will help our volunteer crews carry out their lifesaving work around the coast. In line with Mr Colton’s wishes, some of the money raised from the sale will go towards funding a new Shannon class lifeboat which will be named after his Mr Colton and his late wife Richard and Caroline Colton.”

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