Cars expected to fetch over £8m at auction

It stands to be one of the most generous donations a charity has ever received – two of the word’s rarest Ferraris with a staggering value of £8 million.

Richard Colton, a businessman who died earlier this year aged 82, left the classic cars in his will to lifeboat charity RNLI – even though he was said to be nervous of the sea.

The 1960 Ferrari 250 (top) and 1967 Ferrari 275 GTB/4 (above) are described as being of “national significance” by those disposing of his estate.

At auction the cars would be expected to sell for at least £8m, even surpassing the previous largest gift the charity received - £7.4m in 2013.

Colton owned a collection of 10 classic cars, frequently taking them on tours across Europe with his wife Caroline.

Guy Rose, legacy manager at the RNLI, said the charity was “deeply grateful and humbled” by Mr Colton’s generosity.

“The impact of his incredible generosity will be directly felt by our volunteer crews and the people whose lives they save for many years to come,” he added.

The cars will be sold in October by H&H Classics.

Simon Hope, chairman of H&H Classics, said: “We are honoured to have been chosen to handle this sale which is of national significance.

“These stunning motor cars have been with Richard Colton for 40 years and meant a very great deal to him. So we are absolutely committed to realising the maximum amount for the cars.

“It promises to be an historic sale.”