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Ilderim was built in 1936 by banker and industrialist Marcus Wallenberg to participate in the Berlin Olympics held in Kiel. The boat was designed by the famous Swedish yacht architect Tore Holm. Ilderim proved to be a fast boat during the Olympics, winning several races. However, to Wallenberg's great disappointment, Ilderim was disqualified in the seventh race following an incident with the Finnish yacht Cheerion. Film footage taken from a zeppelin airship was used as evidence in the situation, and historical accounts blame the political climate of Germany at the time for the treatment. In the final standings, Ilderim finished fourth, with Italy and Germany surpassing it for the podium positions. To Wallenberg's delight, Ilderim won the European Championship, the Coppa 'd Italia, in Geneva the following year. After the war years, Ilderim continued competing in England's Solent and the Riviera. Over the years, it has called ports in France, Portugal, Ireland, and Scotland its home before arriving in Finland in 2010.