The B.C. government has forfeited two luxury cars from two alleged reckless drivers. The vehicles, a $235,000 blue 2008 Ferrari Scuderia and a white 2008 BMW M6, are worth a combined value of $310,000.

In September, North Vancouver RCMP stopped two 31-year-old men who were racing up Mount Seymour with speeds up to 200 kilometres an hour.

Police say a mother reported she was almost hit while she was walking with her two young children.

Both drivers received speeding tickets and two week driving suspensions. Their cars were impounded for seven days.

Solicitor General Rich Coleman said the seizure represents the largest forfeiture in B.C. history.

"When a vehicle has killed or injured someone, it's too late. Our laws now work to take vehicles away from reckless drivers before they hurt someone because they are demonstrating no regard for the safety of themselves or others on our roads," he said in a statement.

B.C.'s Civil Forfeiture Office said they made the decision to take the cars because the drivers showed disregard for the safety of others on the road, narrowly missed three pedestrians and "there was potential for catastrophic injury or death."

The drivers deserved a more serious punishment than just a simple ticket or temporary impound, said RCMP Supt. Tonia Enger, vice-president of the BC Association of Chiefs of Police.

"Had one of these vehicles lost control, there would have been a fatality or fatalities, without question," Enger said.

A local dealership has agreed to buy the Ferrari for $235,000. The price for the BMW will be determined at a government auction.

Fifty per cent of the proceeds of the Ferrari sale will go to a relative of the driver who was part owner of the vehicle but not involved in the incident. The driver will get 30 per cent, and the province will take the remaining 20 per cent.

Storage fees and repaying a bank debt will be paid first from the BMW proceeds. Seventy percent will go to the driver, with another 30 per cent going to the province.

B.C.'s civil forfeiture program has appropriated more than $13 million in cash and assets since April 2010.