Rare Ferraris raise £8.5 million for RNLI

Smitzy

Smitzy

2015-10-15 14:21:25

A pair of rare Ferraris has raised £8.5 million ($13.1 million) for the Royal National Lifeboat Institution (RNLI), after selling at auction in Oxfordshire.

The two classic cars had been owned by Richard Colton, a Northamptonshire businessman and renowned vintage car enthusiast, whose will stated they be sold to benefit the RNLI.

Both cars were sold without reserve by H&H Classics, during an auction at the Imperial War Museum in Duxford. Each vehicle surpassed expectation, with the 1960 Ferrari 250 GT short-wheelbase (SWB) Berlinetta sold for £6,600,000 ($10.18 million), and the 1967 Ferrari 275 GTB sold for £1,930,000 ($2.97 million).

“This is a dream result for us," said H&H Classics MD Simon Hope. "We have worked relentlessly with the RNLI over the past few months, promoting the cars all over the world, to ensure that we honoured the memory of Richard Colton properly.

"The sale result, including potentially new world record prices when confirmed, vindicates that effort and we are more than proud to have been a part of a legacy that will help save lives in the future.”

The final prices achieved by the two cars makes them the most valuable items ever bequeathed to the RNLI in their history.

“We are overwhelmed by the sale price of the two Ferraris, a legacy so generously gifted to our charity by car enthusiast Richard Colton," said the RNLI’s Chief Executive, Paul Boissier. "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.

“Six out of ten lifeboat launches are only made possible by legacies, large and small, left to the RNLI in people’s wills. These gifts help pay for the training and equipment our lifeboat crews rely on when they launch into the unknown, in all weathers, day or night to save others. We are deeply grateful to Mr Colton for his generosity which will be felt most by our volunteers and the people whose lives they save.”

The auction also saw the sale of a 1976 E-type Jaguar formerly owned by football legend George Best, which realized £43,000.

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