Inverted relative to the sketchbook’s foliation, only the sails of the yachts in the foreground are shown. Beyond to the left are the masts of a large ship, probably a warship, moored and bedecked with flags or bunting, as seen in the background of the painting East Cowes Castle, the Seat of J. Nash, Esq.; the Regatta Beating to Windward, exhibited at the Royal Academy in 1828 (Indianapolis Museum of Art).1 For more on studies in this sketchbook relating to the regatta events at Cowes from late July 1827 onwards, see the sketchbook Introduction.
Martin Butlin and Evelyn Joll, The Paintings of J.M.W. Turner, revised ed., New Haven and London 1984, p.150 no.242, pl.246 (colour).