Abstract Common bottlenose dolphins (Tursiops truncatus) are known to depredate fishing gear, resulting in damage to the catch and/or the gear itself. The extent of this damage and estimated financial loss varies between areas, métiers, and survey methods. We quantified losses due to bottlenose dolphin depredation in a coastal gillnet fishery in the Thermaikos Gulf, Greece, in terms of CPUE reduction, catch damage, and gear damage. Experimental fishing effort was carried out over two seasons (2020 and 2021), along with concurrent questionnaire surveys over the second season (2021). Depredation frequency (∼35%) and CPUE changes due to depredation (a significant decrease of 45–50%) were similar for both sampling schemes. The number of damaged fish in experimental hauls increased significantly with dolphin depredation, but did not fully account for the sizeable loss in marketable catch, indicating that large numbers of fish were removed from the nets entirely. Damage to experimental nets increased with dolphin presence and group size, with an average of 0.59% of net surface area damaged per depredation event. Both datasets point to annual economic losses of over €5000 per vessel in this fishery, while the similarity between direct observations and self-reported losses highlights the usefulness of frequent questionnaire surveys.