Despite a lull in big yacht racing after 1897, "Britannia" served as a trial horse for Sir Thomas Lipton's first America's Cup challenger , and later passed on to several owners in a cruising trim with raised bulwarks. In 1920, King George V triggered the revival of the "Big class" by announcing that he would refit "Britannia" for racing. Although "Britannia" was the oldest yacht in the circuit, regular updates to her rig kept her a most successful racer throughout the 1920s. In 1931, she was converted to the with a bermuda rig, but despite the modifications, her performance to windward declined dramatically. Her last race was at Cowes in 1935. During her racing career she had won 231 races and took another 129 flags.