Original image

step 1 of 8

step 2 of 8
Shaped the sails with with warp and liquify.
Added shading using dodge and burn.

step 3 of 8

step 4 of 8

step 5 of 8
Added a filter to give the image a canvas look.

step 6 of 8

step 7 of 8
Placed on a red background, added some dirt texture to the wall, and drop shadow.

step 8 of 8

Final result

