| Valkyrie III |
 |
| Rig Class. | Cutter |
| Year built: | 1895 |
| General characteristics |
| Ton: | 263 tons TM |
The left hand photo below shows the yacht with Defender in 1895.
1895
VALKYRIE III LOSES 3-0 TO DEFENDER
In 1894, back on the Clyde, Valkyrie II was involved in a collision and sank, with the loss of one crewman. The following year Dunraven took delivery of Valkyrie III, another composite boat (with teak planking above the waterline and American elm below) from Watson's board and Henderson's yard. Yachting Monthly reported that she had a "wide shoal hull of American
proportions over a deep fin keel in place of a centreboard, and a huge sail plan". She arrived in New York three weeks before racing was to begin but her steel mast, which would have been the first used in Cup races, was late, so she stepped a wooden one.
The series was full of controversy. After Defender comfortably won the first race, Dunraven insisted she
should be re-measured, claiming she had taken on additional ballast to increase her waterline length. This was found not to be the case. Then, just before the second race start, the two boats came together. Defender's topmast was damaged and she crossed the line late. Valkyrie III won by 47 seconds on corrected time. However, despite Dunraven's claims that a spectator boat had got in Valkyrie's way, she was disqualified for the starting incident. In the third race, as soon as she crossed the start line, Valkyrie retired, giving the race and the series to Defender.
For some time afterwards the controversy with regard to the ballast allegation and the starting incident continued on both sides of the Atlantic, resulting in the NYYC revoking Dunraven's honorary membership, just before he sent them a letter of resignation.
Owners