Best Folder Under $400?

If you're looking for a beefy knife for heavy duty cutting, I recommend the Cucchiara Dorado Midtech 2! It will be slightly more than $400 but its worth it. Recurve blade for grabbing material, big handle for solid grip, flipper is smooth, and framelock locks up firm but doesn't bind, etc.

http://cucchiaraknives.com/
 
I'm a lucky dude I guess.

Yup. Cheapest XM-18 I've seen this year has been $695.

Go to his dealer list, follow the links and find one for $385.

http://www.rickhindererknives.com/rick-hinderer-dealer-list/

Its frustrating to see dealers sell them for $750+ (Standard models, not customs) on average, but that's supply and demand. There will always be somebody that will pay it. Rick should take a lesson from Kel Tec. Although they're not a premium gun company, a few of their dealers were selling some of their high demand models at 2-3 times MSRP, so Kel Tec raised dealer cost on those items considerably as to retain the profits set by the market value.

Anyway, if the OP can get an XM-18 for $385 retail, that would be my suggestion. Otherwise, a Sebenza.
 
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