The Colton Ferraris Raise £8.5m for the Lifeboats

Posted on October 15, 2015.

coltonThe two prized Ferraris of the late Club member Richard Colton, a 275 GTB/4 and a 250 GT SWB, sold at auction for a total of £9,758,320 (including fees), the proceeds of which will go directly towards helping the Royal National Lifeboat Institute.

The Ferraris were a legacy of the late Richard Colton, a Northamptonshire businessman who collected and actively campaigned sensational classic cars for 40 years. Described by close friends as “a shy and private man”, he was known to be somewhat nervous of the sea, so when deciding on which charity to leave this grand legacy of two classic Ferraris, there was only one choice, the Royal National Lifeboat Institution (RNLI). The sums raised make the late Richard Colton’s legacy the most valuable items ever left to the RNLI.

The two Ferraris are a 1960 Ferrari 250 GT short-wheelbase  Berlinetta chassis 1995 GT, of which just 167 were made with a mere ten being supplied new to the UK market; and a 1967 Ferrari 275 GTB/4 chassis 10177 GT – thought by many to be the ultimate front-engined, Enzo-era Ferrari road car.

Sold without reserve, they both exceeded expectations, the 1960 Ferrari 250 GT making £6,600,000, and the 1967 Ferrari 275 GTB, which received Ferrari Classiche certification prior to the auction, achieved £1,930,000. The vehicles were sold by H&H Auctions at the Imperial War Museum Duxford, Cambridgeshire, on Wednesday 14 October 2015.

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