It is believed all but two of the carbon-fibre skiffs, with a total value of about $100,000, were damaged, as was the late-model four-wheel drive vehicle towing them.
The three occupants of the vehicle were treated for cuts and bruises.
The skiffs, which are insured, belong to the Kaiapoi Cure Boating Club and were being used by 18 of the club's members at the South Island Masters Championship regatta on Lake Dunstan at the weekend.
The club members were heading home after a weekend disrupted by the weather.
The crash happened on a shaded part of the ice-affected highway, as the vehicle was heading north.
Sergeant Simon Paget, of Cromwell, said yesterday there was also a two-car crash 8km south of the Lindis summit on Sunday at 6pm.
The driver of one car towing a trailer lost control on black ice and the vehicle was hit by another which also slid on the ice.
The driver of one vehicle sustained minor injuries.
