This term began to appear at the beginning of the 20th century when wealthy individuals constructed large private yachts for personal pleasure. This coincided with it being picked up by the press as well, and its appearance in magazines such as "Boat International", cemented it as an every day term in the industry. Examples of early luxury motor yachts include the Cox & King yachts, M/Y (motor yacht) Christina O and M/Y Savarona. Early luxury sailing yachts include America's Cup classic J class racers like S/Y (sailing yacht) Endeavour and Sir Thomas Lipton's S/Y Shamrock. The New York Yacht Club hosted many early luxury sailing yacht events at Newport, Rhode Island, during the Gilded Age
Nice post, great discussion topic.