The sale of two vintage Ferraris for £8.5 million is funding a new lifeboat for Barry Dock in Wales. A 1960 Ferrari 250 GT SWB sold for £6.6 million, and a 1967 Ferrari 275 GTB/4 fetched £1.93 million.
The lifeboat, to be operational in spring 2024, is part of a bequest from the late Richard Colton, a renowned car collector. The funds are also supporting other Royal National Lifeboat Institution (RNLI) projects, including a lifeboat in Hastings and new boathouses in London and Pwllheli.
The Barry Dock's new Shannon-class vessel will be named Richard and Caroline Colton II.