Co-ordinator Jeff Williams said more boats arrived in Queenstown each year for Dinghy Day, which this year had been moved to Lake Wakatipu, from Lake Hayes.
Normally held on a Saturday, this year the event would be on a Sunday so as not to clash with the classic car event, part of the Queenstown Auto Extravaganza, the previous day.
Mr Williams said he expected many classic car enthusiasts would also want to see the classic boats.
Boats from the North Island and around the southern South Island were coming for the Seagull race.
Racing starts at 10.30am and there will be plenty for boat lovers to see from the shore, with a range of classic boats on display.
One of those boats belongs to co-organiser Alan Kirker - the Yvalda, used by former United States president Franklin D.
Roosevelt and former British prime minister Winston Churchill.
However, the likely star of the day will be the 10m hydrofoil Meteor III.
Mr Williams said the hydrofoil was commissioned by former Queenstown resident Frank Howarth in 1964 and built in the UK.
It started service on Lake Wakatipu in 1966.
"It's beautiful; it's built like an aircraft; it's just one of the most gorgeous crafts."
Meteor III was one of the first tourist boats operating on the lake and in its first year of service carried 19,600 passengers.
It has since been sold, restored in Christchurch and is now back on Lake Wakatipu, where the public can take a high-speed ride on the craft for a $10 donation.
Mr Howarth might visit Queenstown for a reunion with the third and last of his Meteor crafts.
Mr Williams said there would also be two 7m wooden steam-powered vessels and river boats from the UK.
Mr Kirker said there would also be an Alabama-based dinghy and a Canadian-based dinghy on the lake, along with about seven from the North Island, about eight from Dunedin, and more still from Invercargill and Queenstown.
"Big boats . . . there will hopefully be 10 to 12 and if the Queenstown and Wanaka district can pull their dinghies out, we're looking at a safe 25 to 30 dinghies."
Mr Williams said there would be plenty of fun mixed in with a bit of good-spirited competition.
"It is a fun day for people who have an old wooden or historical boat to compete in rowing races and owners of Seagull outboard motors who wish to be involved in friendly but keen racing."
This year there would also be a "parade" of all classic and historic craft during the lunch break.
Other race categories included a women's race and a handicap race.
Mr Williams said anyone wishing to come along was welcome to bring a picnic lunch and make a day out of the popular event.
The Dinghy Day is run by the Historic Boatshed group, which is restoring the old slip and shed at the Frankton Marina.
• For more information or to enter your boat contact Jeff Williams on 0274 442 730 or Alan Kirker on 0274 345 555.
