Well, you're talking about custom knives, and that's a different thing entirely.
Look, in our present economy, nothing has really hit yet. I think if Obama wins the presidency, you will see Wall Street react unfavorably, immediately. But as long as people have jobs, they'll have money and they'll continue to spend it because this generation of Americans hasn't learned NOT to spend. Still, once you see the wealthy constrict under the threat of "spread the wealth" taxes, you could reasonably expect to see job losses and an initial period of deflation. With credit at a standstill, you'd have the same situation that caused much of this mess to begin with. You'd have to put pressure on the lenders to lend to people they don't want to lend to (which now is almost everyone). Only when the depression leads to a wholesale loss of jobs across the country will you see a buyer's market for custom knives and other luxuries.
Boats, cars, recreational vehicles, real estate and other high ticket items will be unloaded for good prices if you can afford it. Essentials like guns, ammunition, inexpensive knives and commodities will probably be more in demand, though for as long as cash is more in demand than anything else, you should be able to find deals. But by then you might not have as much disposable income.
Hard times will come regardless of who gets elected, but Wall Street, small businesses and big businesses will be more impacted with a Democratic Congress. This is simply fact, not politicking. Still, it gets back to my original view of knives. Unless an expensive knife can deliver a decided performance increase over less expensive knives, they will go the way of the dinosaurs. The wealthy may continue to demand them, but most people will simply go with knives that are well made and competitive in price.