Ferraris auctioned for lifeboat charity RNLI sell for £8.5m

The auctioneers said the 1960 Ferrari 250 GT SWB was a "must have for serious collectors"

Two rare Ferraris, donated to the Royal National Lifeboat Institution, have sold for more than £8.5m at auction.

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.

A 1960 red Ferrari 250 GT SWB sold for £6.6m, while a silver 1967 Ferrari 275 GTB/4 sold for £1.93m.

Mr Colton hoped to raise enough money to fund a new lifeboat to be named after him and his late wife Caroline.

Described as "a shy and private man", he was said to be nervous of the sea.

Richard Colton drove the 1967 Ferrari around Europe and it has 78,000 miles on the clock

The 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 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 and left his car collection to the charity.

He had restored both the Ferraris 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."

Another car in Mr Colton's collection, a Jaguar E-Type V12 Coupe once owned by football star George Best, sold for £43,000 - which also goes to the RNLI.

Best, who died in 2005, drove the car for three years and sold it in 1974.

George Best drove off in his Jaguar from Old Trafford after a well-documented bust-up with Manchester United manager Tommy Docherty

And a 1976 Jaguar XJ-C 12, which featured as John Steed's car in the 1970s' TV series The New Avengers, sold for £62,000 despite having a guide price of just £10,000 to £12,000.

The cars were auctioned by H&H Classics at the Imperial War Museum, Duxford, Cambridge.