In '87 I bought a 2nd hand boat that came with a Sesame keyless lock, so I don't know when the lock was new. The boat was destroyed by hurricane Bob in 1991 but the lock (on the outside of the cabin) survived and is still being used today on my current boat. For another purpose on my boat, I've bought a different brand keyless lock in 2000 which corroded internally so it woudn't open any more earlier this year (2005) so had to have it cut off. I trust my recently purchased Sesame lock will last for decades.