TWO Ferraris worth an estimated £8million are to be auctioned off later this week in aid of the RNLI.

The two Ferraris were recently put on display at a special event at the House of Commons and as an MP representing a coastal constituency it was attended by Wirral West MP Margaret Greenwood.

The 1960 250 GT and 1967 275 GTB/4, which are both to be auctioned by H&H Classics after being "left to charity" in a will.

The auction will take place this Wednesday, October 14, at the Imperial War Museum, Duxford, Cambridge and will be run by H&H Classics, one of Britain’s oldest classic car auction houses.

All proceeds from the sales of the two multimillion-pound cars will go to the Royal National Lifeboat Institution, following the wishes of the cars' late owner, Northamptonshire businessman Richard Colton.

Margaret Greenwood said: "The RNLI is a fantastic organisation and I’m sure they will put the funds raised from this auction to good use.

"In Wirral West we have one of the oldest RNLI stations in the country at Hoylake, which was founded in 1803; we also have the station at West Kirby which has been operational since 1966.

"Both these stations provide vital services with numerous volunteers who risk their lives to save those in distress at sea. Many others work tirelessly behind the scenes.

"Everyone involved in these stations deserves a huge amount of respect and credit for their work.

"Fundraising plays a big part in ensuring that the RNLI can continue to offer its vital services right around the UK coastline. Donations such as this are hugely welcome."