Friday 20 January 2017

Businessman's will gifts multimillion-pound Ferraris to RNLI

Published 23/07/2015 | 06:57

Members of the Royal National Lifeboat Institution with a red 1960 Ferrari 250 GT which is to be auctioned to raise money for the charity
Members of the Royal National Lifeboat Institution with a red 1960 Ferrari 250 GT which is to be auctioned to raise money for the charity

Two multimillion-pound Ferraris have been left in a businessman's will to the Royal National Lifeboat Institution.

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The two 1960s cars, valued at £2 million and £6 million, were a bequest from Northamptonshire-based Richard Colton, a prominent member of the Ferrari Owners' Club.

T hey will be sold at auction in October to raise funds for the coastal search and rescue charity.

Guy Rose, legacy manager at the RNLI, said the charity was "humbled" to receive the two vehicles - a Ferrari 250 GT SWB and a Ferrari 275 GTB/4 chassis.

He said: "Leaving a legacy in a will is a very personal decision so we are humbled that Mr Colton chose the RNLI as the beneficiary of the sale of his two prized Ferraris.

"The proceeds will go towards helping our volunteer lifeboat crews save lives at sea.

"As a charity, the RNLI relies on donations to fund its lifesaving work. In fact, six out of ten lifeboat launches are only made possible through gifts left to us in wills.

"Whether these legacies are large or small, we are deeply grateful to supporters like Mr Colton for their generosity and support for our charity."

The RNLI, which was founded in 1824, intends to use the proceeds to help fund a lifeboat, which will be named after Mr Colton and his wife Caroline.

It costs around £410,000 a day to run its fleet of lifeboats and team of lifeguards.

The two Ferraris will be auctioned by H&H Classics at the Imperial War Museum Duxford on October 14.

Press Association

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