A skilled sailor, he participated in yacht racing, winning the Sir Thomas Lipton Cup in 1900 with his new yacht he had named "Virginia" in honor of his new bride. In 1902, Vanderbilt began construction on his own country place at Lake Success on Long Island that he named ""Deepdale"." However, sailing would take second place to his enthusiasm for fast cars. In 1904, Willie set a new land speed record of in a Mercedes at the Daytona Beach Road Course at Ormond Beach, Florida. That same year, he launched the "Vanderbilt Cup", the first major trophy in American auto racing. An international event, designed to spur American manufacturers into racing, the race's large cash prize drew the top drivers and their vehicles from across the Atlantic Ocean who had competed in Europe's Gordon Bennett Cup. Held at a course set out in Nassau County on Long Island, New York, the race drew large crowds hoping to see an American car defeat the mighty European vehicles. However, a French Panhard vehicle won the race and fans would have to wait until 1908 when 23-year-old George Robertson of Garden City, New York, became the first American to win the Vanderbilt Cup.