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| Architect | Philip Rhodes |
| Builder | Luders Marine |
| Owner | Henry D. Mercer |
| Club | New York Yacht Club |
| Skipper | Emil B. Mosbacher |
| Type | 12 MJI |
| Length HT | 20.39 m |
| Draft | 2.72 m |
| Displacement | 25.65 tons |
| Sail area | 166 m2 |
Gretel KA 1
Challenger
Gretel
| Architect | Alan Payne |
| Builder | Lars Holvorsen Sons Pty |
| Owner | Franck Packer |
| Club | Royal Sydney Yacht Squadron |
| Skipper | A. Sturrock |
| Type | 12 MJI |
| Length HT | 21.16 m |
| Draft | 2.67 m |
| Displacement | 26.7 tons |
| Sail area | 171 m2 |
The winner
Weatherly lost the 1958 trials. Modified by Philip Rhodes at Luders for the 1962 Cup, she returned to service. She won the first regatta but lost the second due to breakage, and won the last two.
the looser
The Australians entered the fray by copying VIM, one of the American boats from 1958. Gretel was fast, but the crew lacked experience. In the third race, they were separated by 22 seconds at the finish. But Weatherly finished 3-1 and retained the cup.