Ogden Goelet (1846-1897) was a descendant of a Huguenot family who came to the United States in 1718. The family had a policy to never sell land and their fortune grew throughout the nineteenth century. By 1900, the Goelets were considered one of the wealthiest and most fashionable families in America.
Ogden Goelet was passionate about yachting and sponsored over a dozen races. In the 1880s and 1890s, he commissioned Tiffany to make presentation cups for schooners, valued at $1000, and sloops, valued at $500, for a series of regattas sponsored by the New York Yacht Club and to be raced for off of Newport. These "Goelet Cups" remained in continual annual competition until Goelet's death in 1897. After a lapse of one year, they were replaced by the Astor Cups in 1899. Goelet owned both large and small boats and he died aboard his yacht Mayflower.
This Goelet Cup for Sloops took place on 5 August 1892 with only four sloops racing over the Brenton Reef-Block Island-West Island course. The winner was Harpoon, sailed by Charles Francis Adams, and beating Gloriana and Wasp, sailed by the Barr brothers. (John Parkinson, The New York Yacht Club, New York, 1974)