Post America's Cup
12 Metre yachts were used for the last time in America's Cup competition at the 1987 event held in Fremantle, Australia. 12 Metres continued to race together on a local basis but due to the high cost and without the impetus and prestige surrounding competition in the America’s Cup, no new boats have been built since 1987.
The latter part of the 20th century saw a big revival in interest in classic yachts including 12 Metre yachts and particularly those of wooden construction. There were an increasing number of prestigious regattas in attractive locations such as the Mediterranean and the Caribbean. Also, a more prosperous global economy prevailed and the result was an increasing number of restorations and racing of older 'classic' 12 Metres.
Potential restorers of older boats who wanted to race were potentially faced with a dilemma of whether to restore a boat to its original specification or make modifications to make an older design competitive with a newer design. For example, a yacht designed under the First International Rule would have a wooden mast, gaff rig, and sails made of cotton; whereas yachts designed under the Third International Rule, such as Vim, had a metal mast, Bermuda rig, and sails made from Dacron.
To encourage participation in racing and also encourage restoration which remained true to the spirit of the original design, the 12 Metre class association introduced a handicapping system to allow 12 Metres of all ages to race together on a more equal footing. The basis is a handicap applied to each boat according to the 'era' of its design to encourage owners to restore older boats and participate in exciting and sociable racing.
A 12 Metre is classified as belonging to one of three periods. Each Period is defined as a range of dates which coincided with a particular type of keel or rudder design becoming widespread.
- Division A:- Also called Grand Prix, this subclass starts when winged keels became the norm. It covers all yachts built with winged keels and all yachts constructed after 1983. Australia II was the first wing keeled 12 Metre and, despite being constructed before 1984, is included. USA (US 61), also fits into this category, even though its keel structure is different from the standard winged keel of the class. It is also the only 12 Metre to have a "canard" or rudder mounted forward of the keel.
- Division B (Modern):- Starts when a skeg mounted rudder separated from the keel became the norm. It includes all 12 Metres built during the period 1968 - 1983. Intrepid is considered the first Modern even though it was built in 1967 since it was the first 12 Metre to use a skeg mounted rudder. It excludes Australia II, built in 1982, which is in Period A due to its winged keel design.
- Division C (Classic):- All other 12 Metre class yachts built before 1968 but excluding Intrepid which is in Period B by virtue of its skeg mounted rudder design. Divisions D (Vintage) & E (Antique) are the remaining 2 Divisions based on the year of construction including Antique (most of which are in fact gaff rigged). Older sloop-rigged yachts like Vim and Onawa fit into the Vintage category, yavhts like Erna Signe belong to the Antique division. In the early 21st century interest in ownership and restoration of 12 Metres was such that specialist restoration companies would speculatively locate old boats under threat of destruction and publicize the availability in order to attract the funding for a full restoration.
Read more about this topic: 12-metre Class
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