Mr Eade (73) was returning to Taieri Mouth from a day of fishing, when a wave hit the boat about 4.30pm and forced it on to a sand bar.
It was hoped the boat could be towed ashore by two commercial fishing boats at high tide that day, but when it became clear the boats could not get close enough, Mr Eade and his two dogs were rescued by Marine Search and Rescue.
Attempts to refloat the boat yesterday also failed.
''We've got an anchor on it, just to see what happens. It might swing the right way [at high tide] and sweep towards the river. If it does, it will be all better. If it doesn't, she'll be a write-off.
''I'm hoping she can still be refloated.''
Mr Eade said the 10m triple-planked kauri fishing boat was worth more to him than money, because it was given to him by Sir Clifford Skeggs.
''I managed his farm for years. He gave it to me for all my loyalty.
''This boat means a lot to me.''
It is not the first time Mr Eade has come to grief at the mouth.
He was plucked from frigid water by a fishing boat skipper in July 2014 after he was washed overboard from his 9m boat Aida, which was stranded on a sand bar near Taieri Island.
In April 2008, his boat had to be towed from Taieri Mouth, back to shore after both his main and auxiliary engines cut out.
Despite his history of mishaps at the mouth, Mr Eade said he would continue to fish in the area.
''I've been a fisherman here for years. I fished out of here way back in the 1960s. It will never put me off.''
