In the 18th century, the cost of a transatlantic voyage varied significantly based on social status and the specific decade. For the average "steerage" passenger or an indentured servant, the price was roughly £5 to £10 sterling. In 1745, records show an average cost of about £8 12s, which represented roughly four to seven years of labor for a common apprentice. For those traveling in better conditions with private cabins and actual furniture, the price could soar to £20 or more. It is important to remember that until the 19th century, there were no regular "liner" schedules; passengers had to find a merchant ship headed to their destination and negotiate a fare directly with the captain. Many who could not afford the fee signed "indentures," essentially trading their labor for four to seven years in the colonies in exchange for the passage. Adjusted for modern purchasing power, a £5 passage in the early 1700s is often estimated to be equivalent to roughly £23,000 ($30,000) in terms of relative income value.