A century of film...

...the British Pathé films starting with Sir Thomas Lipton's Shamrock (IYRU 23mR, 1908) and Shamrock IV (75ft Universal Rule, 1914) America's Cup challenger trials in 1914 and ordered chronologically all the way to the building of the superyacht Fleurtje in 1960.

What is it?

Artist unknown, location/date unknown, subject unknown. (sold at a Bonhams auction in 2010) - What is it?

here is what I make out:
spoon bow and vertical sail panels: 1892-1899
candidates with large, black hulls: Calluna , Britannia, Valkyrie (1893), Ailsa (1895) or Meteor I (1896)
(I ruled out Navahoe and Satanita (1893) because their bow shapes donot seem to match closely)

UPDATE: Theo Rye has identified the yacht as the Herreshoff sloop Navahoe, read his comment below.
UPDATE:The photograph was shot in 1905 by Frank William Beken.

2013 Sydney Hobart race

Wild Thing, photograph courtesy © Daniel Forster

Perpetual Loyal & Wild Oats XI, photograph courtesy © Carlo Borlenghi

Perpetual Loyal & Wild Oats XI, photograph courtesy © Daniel Forster

Perpetual Loyal & Wild Oats XI, photograph courtesy © Daniel Forster

Wild Oats XI, Beau Geste 2 & Perpetual Loyal, photograph courtesy © Daniel Forster

Wild Thing & Ragamuffin 100, photograph courtesy © Daniel Forster

Perpetual Loyal & Beau Geste 2, photograph courtesy © Daniel Forster

Perpetual Loyal, photograph courtesy © Daniel Forster

Perpetual Loyal, photograph courtesy © Daniel Forster

Wild Oats XI, photograph courtesy © Daniel Forster

Wild Oats XI, photograph courtesy © Daniel Forster

Wild Oats XI, photograph courtesy © Daniel Forster

Wild Oats XI, photograph courtesy © Daniel Forster