Hastings lifeboat funded by Ferrari sale launched

The red 1960 250 GT SWB sold for £6.6m at auction

A lifeboat paid for by the sale of two of the world's rarest Ferraris has been officially launched.

The classic cars were left to the RNLI by businessman Richard Colton following his death at the age of 82 in 2015.

The red 1960 250 GT SWB and the silver 1967 275 GTB/4 models raised £8.5m at auction, helping to pay for a lifeboat stationed in Hastings, East Sussex.

The boat was named after Mr Colton and his late wife Caroline during a ceremony at the lifeboat station.

RNLI crew, volunteers and dignitaries attended the event on Saturday.

As well as having a successful footwear distribution career in Northamptonshire, Mr Colton, from Stanwick, collected classic cars for 40 years and became a prominent member of the Ferrari Owners' Club.

The vessel is the first of the RNLI's all-weather lifeboat models to be powered by water jet

Just 167 of the 1960 Ferrari were ever made, with only 10 sold as new in the UK. It sold for £6.6m during the auction.

The 1967 model, which went under the hammer at £1.93m, was thought by many to be the ultimate front-engined Enzo-era Ferrari road car.

The Shannon class lifeboat cost £2.2m and its launch vehicle cost £1.5m. It is the first of the RNLI's all-weather lifeboat models to be powered by water jets.

It is hoped the remaining funds will go towards paying for another lifeboat and launch vehicle but this is yet to be confirmed, the RNLI said.