The sale of two rare Ferraris has helped fund the purchase of the new Pwllheli lifeboat house.

A 1960 Ferrari 250 GT SWB and a 1967 Ferrari 275 GTB/4 have been sold for about £8.5m through H&H car auctions.

Cars of this type are often lifelong possessions, and tend to come to auction only at times of financial strife, or as part of a deceased estate. If owners of cars like these require funds it is simple for them to use pawnbrokers to release funds against classic cars. Pawning a classic car can be an ideal option for passionate car owners, funds can be accessed through pawnbroker loans online, or and shops can be found physically. There are many pawn shops London and UK wide. Because pawning luxury cars is such an easy way to release funds, it is rare to get cars of this quality coming up for auction.

However, in this case businessman and classic car enthusiast Richard Colton died in 2015 and he left these two treasured cars to the Charity the RNLI.

The Ferrari 250 GT SWB was unveiled in 1959 at the Paris Motor Show to a stunned audience. In the years since its release, it’s been described as one of the most beautiful cars ever made, but perhaps more importantly it’s remembered for its staggering prowess on the race track. Only 46 were ever built. 

The history of the Ferrari 275 began in 1964 when the model was initially brought onto the market. It came as a replacement for the legendary Daytona and only stayed in production for four years until 1968 At the Paris 1966 Motor Show Ferrari unveiled the 275 GTB/4.

The new 275 GTB/4 was designed by Pininfarina, built by Scaglietti, and was the first Ferrari not be offered with wire wheels. It immediately became a legend on the market, and even now, many people still claim it is one of the greatest Ferrari’s ever built.

The sale raised a total of £8.53 million, with a further £86,000 being raised by the local community. Work on the new boathouse is now complete, although Covid delayed the manufacturing of a new lifeboat.