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Rich Lazzara – VP of Lazzara Yachts

Submitted onOctober 30, 2009 5 Comments, join the conversation

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Yacht Help Desk had a candid conversation with Rich Lazzara the Vice President, LIYS of Lazzara Yachts. Read his thoughts below:

I couldn’t be more excited about the 2009 Ft. Lauderdale Boat Show. Why? Several reasons.

The first is interest. In the last 60 days I’ve seen more interest in our product then the previous 7 months. People are starting to inquire about delivery dates, pricing and new product introductions. Even better we have more pre scheduled appointments then last year. All of these things are great signs and indicators for sales.

The second is sales. We had a great 3rd quarter. People were buying yachts again. New, pre owned, inventory and new orders were all sold in the 3rd quarter. I look for that trend to continue.

The third is the turn out in prior boat shows. Both the Cannes and Genoa boat shows were better than expected. While they did not surpass yacht sales or attendance records they did show very promising signs of recovery in our industry.

The fourth is the stock market. This always seems to be a leading indicator for boat sales. With the stock market being up and continuing on this trend, I’m looking forward to boat sales following closely behind.

FLIBS2

Lastly is our product. Lazzara offers more yacht models than ever before, 7 models in all. The LSX78, LSX78 fly, LSX92, LSX120, LMY84, LMY116 and LMC76. All available to see either in person or in concept at our display located at The Bahia Mar Marina, face dock #5

What has Lazzara done as a company to adjust to the current economic and environmental pressures?

We have put all of our efforts and capital into developing new product. New LSX78 fly, New LMC 76, New LSX120. In addition we have reduced our staff size and lowered many overhead expenses.

How are you and/or your clients dealing with the shrinking lending market?

Not very well. The reduction in lending is a real problem in our industry. The days of big inventory are over. Specifically we are focusing on ways to build boats made to order in the fewest amount of days possible. This means we do not have to have inventory or work in process, which means as a builder we won’t need as much work in process capital. For the consumer, there are still lending institutions that are wiling to make loans. However they are increasingly difficult to find.

What would recommend to buyers that are looking for the best deal, but are undecided between brokerage and new build?

Rich: First and foremost I always tell people to determine what their needs and use of a boat will be. From there you can narrow down the type, brand, etc. As for new or pre owned. I do not find that the buyers are switch from one to the other. In my experience new boat buyers are new boat buyers and the same is true for pre owned. Since there are great deals to be had on either new or pre owned I don’t think “the deal” will determine what people buy. Being on the water in your dream boat should be just that, not some compromise based on an amount of money one way or the other.

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About the Author

Rich Lazzara is the Vice President, LIYS of Lazzara Yachts a family-owned company whose goal is to build a few, high-quality, innovative yachts that set the industry standard. For inquiries send him an email or visit his blog

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5 Comments »

  • Jeremiah Buschmann says:

    I wanted to get on your mailing list if you have one and would like to know suggested retail on some of your gorgeous boats. If a guy was to make $ 100,000 a year can he own a part of the wonderful things you all are doing over there in Florida??

    • YHD says:

      Hi Jeremiah,

      Welcome to our tribe! There are tons of boats out there for every budget. For as little as $500/month you can enjoy the same pristine Biscayne Bay waters that millionaires do. That’s the beauty of boating. You can buy a 25′ outboard with a trailer and on the weekends take it down to Key Largo, fish off of it during the day, beach it at night, put up a tent and grill your day’s catch under the moon! It’s like a vacation that you can take every month.

      We’ll be happy to point you in the right direction.

      Editor

  • Rich Lazzara says:

    Thanks for the interview. As a follow up we’ve sold 5 yachts so far from the boat show. We are not the only boat company either that sold at the Ft. Lauderdale Show. This is a great sign for our industry. Let’s hope it continues into the next year.

    • YHD says:

      Congratulations! We heard similar success from other sellers, albeit not from everyone. The consensus is that cash buyers were in force and looking for deals. Finance companies reported low applications, but sellers confirmed sales… Are your sales financed and did you entertain more bargaining than normal?

      • Srjack says:

        Hi Rich,I really like the ovleral look and layout of the LMC 76. It does appear to utilize the space more effectively than yachts of this size.I like the fact that Lazzara looks at various companies for the pod drives. I believe being open to what is best for the design and performance of the boat is what will continue to make Lazzara a successful yacht builder. I am impressed at the high end cruise speed that can be achieved by this yacht. I read where Skyhookae, one of the exclusive features of Cummins MerCruiser Diesel’s Zeusae and Axiusae propulsion systems, won the Best of the Year Award from Motor Boating Magazine, proving once again that Lazzara made a great choice in being innovative for their yachts.A couple of questions:1. Will the LMC 76 have an option of a helm station on the main deck? I’ve seen a few designs where the yachts have an additional helm station on the main deck (which may prove useful in inclement weather).2. Where would the tender and/or jet ski be stored?Thanks again for your blog. I thoroughly enjoy it. Keep up the great work!Carl

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