A crucial piece of life-saving equipment, the boats, which are smallest in the RNLI fleet, are used for rescuing people cut off by the tide or in difficulties in surf, as they can be taken into rocky areas and even beached.
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Warter Priory was taken over by Malcolm Healey, the former owner of Hygena Kitchens, and one of the country's wealthiest men, in the late 1990s.
The third lifeboat will be named at a later date and will go into service at Seahouses in 2018.
The North York Moors National Park have obtained funding for a five year project to protect and highlight the fascinating history behind the Iron Stone mining.
They have been purchased thanks to a donation from Warter Priory, the 12,000-acre shooting estate in the heart of the Yorkshire Wolds, which raised £162,000 during a three-day fundraising effort last year.
The original aim was to raise enough funds to buy Whitby RNLI a new in-shore lifeboat.
But the target was smashed on the first day and enough money for two more was raised during the event, which included a clay shoot, auction and the annual Bush Beaters Ball.