[8] The design was built by Beneteau in France and in Marion, South Carolina, United States, starting in 2002, but it is now out of production.

It has a masthead sloop rig, with a deck-stepped mast, two sets of swept spreaders and aluminium spars.

[1][3][5] The boat is fitted with a Swedish Volvo diesel engine of 80 hp (60 kW) for docking and manoeuvring.

[1][3][5][13] In a 2009 review, Yachting Monthly reported, "under sail, her performance is an improvement on the rather sedate 411, but still steady as opposed to remarkable.

"[8] In a 2003 Cruising World review, Jeremy McGeary wrote, "disguising the outside appearance of copious volume is an art in itself, and here Groupe Finot, the designer of the Beneteau 423, demonstrates its finesse by masking the boat's generous freeboard.

"[12] In a 2003 Sail Magazine review noted, "the 423's considerable beam is carried well aft and allows for a wide cockpit; seats are teak trimmed, the coamings are tall enough and angled outboard for comfort, and the walk-through transom makes it easy to board the boat from a dinghy.