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Racing for the Corinthian Challenge Cup on Lough Derg by Montague Dawson sold for £60,000 at Bonhams Knightsbridge.

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Estimated at £30,000-50,000, the 51cm x 1.03m (20in x 3ft 5in) view titled Racing for the Corinthian Challenge Cup on Lough Derg (above) sold to a USA-based collector for £60,000. Sold at Phillips in London in 1984, it was then acquired from Royal Exchange Art Gallery, London, by the vendor later that year.

Bonhams noted: “It has not yet been possible to identify the specific race and those yachts depicted in this spirited work but further research should bear fruit. In the context of yachting, the term ‘Corinthian’ essentially means ‘amateur’, in the best sense of the word, and is used throughout the yachting world in both the names of clubs as well as trophy races.”

The Lough Derg Yacht Club, based at Dromineer, in Co Tipperary, Ireland, is reputedly the third oldest yacht club in existence, having been established in 1835.