This picture was bought at the opening of the exhibition in Turner's gallery by Sir John Leicester for 300 guineas, but the following year it was exchanged for ‘Fall of the Rhine at Schaffhausen' (R.A. 1806; now at Boston), Turner receiving an additional 50 guineas. There are again drawings for the composition in the 'Calais Pier' sketchbook (T.B.LXXXI-2,

6, 132-3, 136-7 (repr. Wilkinson 1974, p.61), 110-1) and slighter sketches, probably from actual wrecks, in the 'Shipwreck No.1' sketchbook (T.B.LXXXVII-11, 16, repr. Kitson 1964, p.41 and Reynolds 1969, pl.41 respectively, as well as other sketches related in more general terms; see No.93 and the examples repr. Wilkinson 1974, pp.66-7). This was the first of Turner's oil paintings to be engraved, by Charles Turner in 1806 (No.B101).

The composition, as compared with the 'Bridgewater Sea Piece' and 'Calais Pier', shows the rapid advance of Turner's powers. The drama of the action is at one with the composition, Turner's favourite lozenge-shape transformed out of all recognition from its first appearance in the 'Cholmeley Sea Piece'. The jagged shape of the sail replaces the more artificial rent in the clouds of 'Calais Pier' to add to the agony of the scene.