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4 things you need to know about the superyacht market in August

4 things you need to know about the superyacht market in August

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Presidential election anxiety will weigh on US superyacht sales

The upcoming US presidential election is likely to dampen enthusiasm for yacht purchases, new research from Denison Yacht Sales suggests.

The Florida-based broker recently released an analysis of its sales data that revealed an 8.1% drop in sales for the month of November during the election years of 2004, 2008 and 2012, when compared with non-election years, suggesting that potential buyers may be deterred by the uncertainty created by a presidential election.

Joe Foggia, sales broker at Northrop & Johnson concurred with this conclusion, saying: “The first quarter of 2016 was substantially down from first quarter of 2015. I attribute this to the insecurity of the election year in the US creating instability and anxiety.”

What's more, this could have a significant effect on worldwide superyacht sales, as a recent report from Wealth-X and Camper & Nicholsons International revealed that Americans make up 33% of the world’s superyacht owners.

Picture: Flickr / Nicholas Raymond

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