Pete's right
The exception is when the boat sinks when you put it in the water, i.e., fails to displace her weight in water. You can think of the boat being lowered into the water as being like a scales, with water as the counterbalance. The boat will be drawn downward by gravity just until the water pushed aside (and upwards, against gravity) matches the boat in weight. If the boat weighs more than the volume of water it displaces, it keeps going.I'm just now reading a great book "The Nature of Boats" (by naval architect Dave Gerr). In his chapter on Displacement, he says that quoted displacement is often the weight without crew, stores, sails, etc., which often add 50 percent to the weight, and therefore to the displacement.