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From The Collaborative International Dictionary of English v.0.48:
Yacht \Yacht\ (y[o^]t), n. [D. jagt, jacht; perhaps properly, a chase, hunting, from. jagen to chase, hunt, akin to G. jagen, OHG. jag[=o]n, of uncertain origin; or perhaps akin to OHG. g[=a]hi quick, sudden (cf. Gay).] (Naut.) A light and elegantly furnished vessel, used either for private parties of pleasure, or as a vessel of state to convey distinguished persons from one place to another; a seagoing vessel used only for pleasure trips, racing, etc. [1913 Webster] Yacht measurement. See the Note under Tonnage, 4. [1913 Webster]