Miranda III, a striking 8-Metre yacht designed by Attilio Costaguta and launched in 1938, is an enduring symbol of elegance and speed. Built by the Costaguta shipyard in Genoa, she was crafted with the intention of improving upon the success of her famous near-twin, Italia, which won gold in the 1936 Kiel Olympics. While Italia carried the sail number I-20, Miranda III bore the number I-21, a reminder of her place in a line of racing thoroughbreds designed for competition.Costaguta’s design for Miranda III pushed certain boundaries to enhance performance, particularly in light winds. Her lines were longer and narrower than other 8-Metre yachts of her time, giving her a unique edge. These design features made her a beautiful and high-performing vessel, though, due to the outbreak of World War II, she never had the chance to showcase her full racing potential on the international stage. Her early years, therefore, remain shrouded in relative obscurity.Carlo Ciampi was the first owner of Miranda III between 1939 and 1940, but shortly after, she was sold to Andrea and Enrico Costa, prominent owners who kept her until 1967. Her journey then took her to Naples under the ownership of Edoardo Pepe, who registered her at the Yacht Club Canottieri Savoia with the number 1105.In the 1970s, Miranda III’s role shifted from a competitive racer to a cruising yacht. Under the hands of Ettore Rosi, her elegant deck was extended toward the stern, altering her original lines. This transformation signaled her departure from the racing world for a time, as she was used more for leisure and less for competition.However, in 1996, Miranda III was given a new lease on life when her then-owner commissioned a full restoration at the Beconcini shipyard in La Spezia, a renowned name in the restoration of vintage yachts. The restoration was comprehensive, aiming to return Miranda III to her former racing glory. By 2000, she was fully restored and re-entered the world of competitive yachting.In the years following her restoration, Miranda III proved herself in regattas once again. She claimed victory in Imperia in the Metric Classes in 2006 and won races in the Alto Tirreno Department in 2009. Her performances at the Sulla Rotta di Imperia meeting in 2010 and her receipt of the Marina Yachting Award at the Marineria Festival in La Spezia in 2011 demonstrated her capability to compete at a high level, even decades after her original launch.Despite her competitive achievements, Miranda III has remained something of a hidden gem in the international yachting community. Her rarity on the racing circuit, coupled with her impeccable restoration and maintenance, makes her one of the most intriguing 8-Metre yachts in existence. Her legacy is closely tied to that of Italia, but with improvements in her design that make her a unique and formidable vessel in her own right.In 2022, Miranda III was listed for sale in Portovenere for €180,000, a reflection of her status as both a meticulously maintained classic yacht and a potential surprise contender on the international racing stage. Her slender lines and fine craftsmanship continue to capture the imagination of yachting enthusiasts, keeping her legacy alive in the world of classic yacht racing.