 The Cup is an ornate sterling silver bottomless ewer originally awarded in 1851 by the Royal Yacht Squadron for a yacht race around the Isle of Wight in England, which was won by the schooner "America".The trophy was renamed the 'America's Cup' after the yacht and was donated to the New York Yacht Club under the terms of the Deed of Gift, which made the cup available for perpetual international competition.Garrard amalgamated with The Goldsmiths and Silversmiths Company in 1952, when they closed their Albemarle workshops and moved premises to Regent Street.