Oil on Canvas signed and dated lower right “A Jacobsen 1887”. The painting shows the black hulled “Thistle” the English Challenger neck and neck leading the American defender with the white hull Volunteer. Both vessels are painted with excellent detail and you can see a row of crew lining the port rail. The sail seams and reef points are in fine original condition. To the right of the racing yachts in the distance is the Steam Yacht Electra and a white hulled paddle wheel stammer spectating the race. The water and sky are typical of Jacobsen’s paintings of the 1880’s which is his best period for color and detail. Jacobsen’s yachting paintings are amongst his rarest subject and amongst his most sought-after subject for collectors. Jacobsen’s America’s Cup paintings are very rare and are the most desirable of his paintings. (PA1031)
Refrence 1: "Holy Grail of Yachting: The Aret of the America's Cup (1870-1887) Volume 2 by Alan Granby and Janice Hyland, Published The America III Foundation Inc. . This painting is illustrated full page on page 313.
Reference 2: Rousmaniere, John, "America's Cup Book 1851-1983", Italy: 1983, pp. 44-47.  "Burgess designed his biggest, fastest yacht yet. Named VOLUNTEER in honor of Paine's Civil War service, she was made of steel at a yard in Wilmington, Delaware, and then towed to Boston for finishing-off and rigging".  "THISTLE was an excellent boat, perhaps the best challenger in the cup's short history, but she was beaten by a superior, a great yacht that was better managed and better sailed."  These pages contain some excellent photographs of these yachts. Reference II: "A Testimonial To Charles J. Paine and Edward Burgess From the City of Boston For Their Successful Defense of the America's Cup", Boston: Printed By Order of the City Council, 1887, p. 105.  "As soon as the result of the races was ascertained, and it was known that the VOLUNTEER had triumphed over her rival the THISTLE, Mayor O'Brien, with his accustomed forethought and public spirit, conceived the idea of tendering a public reception to our fellow-citizens, Messrs. Paine and Burgess, who had attained so much distinction on account of their identity with the winning boats in three successive contests for the possession of the America's Cup".  This book gives a detailed account and contains several photographs of the three 
Reference 3: “Antonio Jacobsen The Checklist” Published by Smith Gallery in Association with The Mariners Museum, 1984 pages 296-297. This painting is listed as item #13. It shows the same dimensions with the same signature and date. This is one of only two paintings Jacobson painted of this race and the other one has listed part of his home address which is how they can be distinguished from one another.
Dimensions of Painting 22" x 36". Dimensions of Frame 32" x 46".