The parade route started at Okere Arm, going to Okawa Bay where it did a loop, and then went on to Wairau Bay.
At Wairau Bay they had a picnic with old-fashioned fun for the children, such as tug-of-war, sack races and egg throwing, he said.
Wallace said there would probably have been a couple of hundred spectators and there was a script read out during the parade giving information about the classic boats.
The event attractedquite a few people from out of town and there was an elderly couple with a sail boat who had been to every parade. he said.
Wallace said the parade features a motley collection of wooden crafts, from dinghies to sail boats, to small launches and large launches.
"We've got a lot of lovely, old wooden launches on Lake Rotoiti. The parade is a great reason to get them out.
"It's a bit like classic cars - there's a strong group of us who have the same love of classic boats."
He said the event was about getting all like-minded people together and having fun parading the boats.
When the boats were lined up at Wairau Bay people had a chance to get up closer to them, he said.
Wallace said the parade was a great thing to do on Lake Rotoiti because the lake was home to so many classic boats - "it's on the map as a classic boat lake".
He said the oldest boats there were probably from the early 1900s.
Wallace's boat is a replica of a late 1800s/early 1900s boat - "she's an old looking boat but they are beautiful".
"We enjoy keeping that heritage and making them go. It's a great project in retirement - you can spend hours on wooden boats."
Wallace said those who may have missed out on seeing the parade would be able to view photos from the event on the blog site Waitemata Woodys.