Sark's Chief Pleas has rejected proposals for a replacement ferry at its quarterly meeting. Members are concerned the �2.5m price tag is too high and that alternatives need to be found.
But the Isle of Sark Ferry Company, which operates the current service, is worried that delaying the purchase is a false economy as shipyard prices rise.
Glen Drake, a company director, believes alternative proposals will not be as suitable.
He said: "We've been designing this boat now for in excess of two years and we sincerely feel this is the right boat to service Sark in the long-term - summer and winter.
With no airport on Sark, the only link to and from Guernsey is by sea and the ferry carries about 55,000 passengers a year.