How much did a lifeboat cost in 1912?

In 1912, the cost of a lifeboat varied depending on its size and type, but a typical lifeboat used on ocean liners like the Titanic could cost between $1,000 and $2,000. Given historical inflation, this would translate to tens of thousands of dollars today. Lifeboats were essential for safety regulations, especially after maritime disasters, leading to increased investment in lifeboat technology and safety features.