4 top brokers react to the US presidential election

In the wake of Donald Trump's shock victory in the 2016 US presidential election, Boat International spoke to some of the biggest names in the yachting industry to get their reaction.

Jamie Edmiston, chief executive of Edmiston & Company, said: “Politics is a funny thing; and as we have seen in the last few months both in the UK and the USA, nothing is ever certain. Following Donald Trump’s election victory I am not sure I can add a great deal to the already expansive commentary that has come from analysts and academics alike; other than to say that I hope that as a former yacht owner, Mr Trump considers ordering a brand new Presidential yacht; built in the United States of course. The last Presidential yacht was the USS Sequoia, decommissioned in 1977, but at 32 metres she was somewhat smaller than Mr Trump’s former 82 metre Trump Princess (now Kingdom 5KR — pictured above).”

Toby Maclaurin, sales and marketing director at Ocean Independence, said: “Having spent the last week with our US team at the Fort Lauderdale International Boat Show, I am not surprised by Donald Trump’s victory. I don’t remember meeting anyone who said they supported Mrs Clinton, and on the waterways between the various show sites I saw several poster boards in gardens supporting Mr Trump, nothing for Mrs Clinton. The pro-business attitude, and believing in hard work being well rewarded and respected can only be good for our industry and, in several ways, it seems to have been already.

"We are getting to used to uncertainty in currency and stock markets internationally, so it’s hard to say what more of the same will be like for our market. We had a good number of EU based clients looking to purchase in Fort Lauderdale last week, but so far it is the US-based clients that are leading the way in firming up on interest from the show, with five offers currently. Added to improved EU yacht sales business over recent months, we are potentially looking at a very strong end to 2016 for Ocean Independence sales brokers.”

Mark Duncan, group commercial and marketing director at Yachting Partners International, said: “Markets crave certainty and clarity. Whichever political direction Trump the President-Elect, as opposed to Trump the candidate, embarks on now, as a businessman he will appreciate that more than most. For as long as both elements can be made present, entrepreneurs and businesses will be able to strive for and enjoy some success, and for as long as people are working hard to be successful there will always be a need to take time out, to capture some quality time and luxuriate in some well-earned personal reward. Luxury yachting is very high on the list of pastimes and pleasures that delivers exactly that.”

Jim Acher, sales and charter broker at Bluewater Yachting Palma, said: “Considering that President-Elect Trump has owned one of the most iconic superyachts in the world, I don’t imagine that that there will be a negative effect from him personally towards the industry. Any wider effects of this election result will only be felt depending upon economic and foreign policies, which are yet to be announced.”

Sounding a note of caution, Acher added: “The US is a major element of the yachting industry and any change of sentiment felt from that side of the world will be felt across the board. The world has moved through many financial crises and the yachting industry has not been immune to these. Uncertainty in global financial markets will cause all buyers everywhere to carefully consider any investment, not just those that are US-based.”