I had been sitting on Lido Key beach enjoying the nice evening it had become after a rainy, stormy day. I was sitting right on the edge of the shore on a 2 foot drop down area. I could see some sort of white light flashing to the NW of me out in the Gulf (which I saw every night, so it must be some sort of light buoy). At about 10:33p, I started seeing a red light to the left of it, but in the sky. At first I thought maybe it was an emergency flair from a ship in distress, but the light just hung in the sky for about 10 minutes or so...never going up or down, never flickered like it was on fire or burning, just a solid red light. During this time I had been texting a friend, and I told her about it, and she said she remember seeing something like that as a kid from the same Sarasota area. After about 10 minutes or so, it kinda looked like it went behind a cloud, and never saw it again. I don't remember seeing anything like that Sunday or Monday nights (both were very calm nights and the Gulf was calm), and I didn't see anything like that on Thursday or Friday nights (it was clearing nights, windy, and rough Gulf seas).