Founded in 1980 by a group of enthusiasts who wanted to promote the culture of classic yachting, the Museum of Yachting Classic Yacht Regatta brings dozens of boats built by some of the greatest American masters (Herreshoff, Sparkman & Stephens) from all over the region each year to vie for the final stage of the North American Circuit of the Panerai Classic Yachts Challenge, which takes place in the waters of Narragansett Bay.