Chicago Knife Auction Results

betzner

betzner

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Jan 23, 2007
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The results from tonight's auction are nothing to write home about. Of 98 lots, 48 were passed by the auctioneer. Of the 50 remaining, almost all were purchased for less than the low-end estimate. about 10 of them were right at or a tiny bit over the low end estimate.

I viewed the auction, and the results, from a laptop, not from the auction floor in Chicago - so it's impossible to tell how much floor action there was, but it seems like the results were disappointing, or at best, "blah".

Best,

Bob Betzner

EDIT: The $100,000 Steinau lot of credit card folders was passed.
 
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Just checked the results and Bob is absolutely right. In comparison to the previous auctions the results are ...well not positive. Even some top tier knives (like Loerchner)) didn't sell.

Bob, lot #80 or lot #60 ;):)

Marcel
 
The results of this auction can be viewed at:
http://www.proxibid.com/asp/Catalog.asp?aid=28397

All the best,
David Darom (ddd)
 
Will be interesting to see if show traffic and sales are more encouraging than the auction.

Wonder how the Rock Island Auction did today?
 
That is exactly why I discourage customers from placing high reserves in my auctions. You end up wasting the time of a lot of people. In our recent Knifemaking Legends auction, out of 209 lots, over 200 sold.

The pure fact of life is if a knife does not meet reserve in an active open marketplace--then the reserve was too high. This comes usually when collectors pay too much to start with or get too optimistic about their expected return.

When the rubber meets the road, the only thing that matters is what someone is willing to give.

I have told more than one collector who has approached me with some outrageous reserve, "Keep that one. Send me the knives you want to sell."
 
I think poor attendance will prove to be a factor in this. Let's not forget that the Guild Show is next week, for one thing; how many collectors will actually travel to both shows? Also, how many makers? While there are a small number of big names and good makers listed as attending, the exhibitor list on the website is both short and lacking in several genres. Unless you're into the high end of stock removal knives or tac knives, I don't see much reason to go, outside of Thad Buchanan and perhaps a few others I'm not familiar with. To me, this also shows that a great many makers opted to skip Chicago in favor of the Guild Show. If DH III had opted to return, I'd be on my way there right now, but ...

This is exacerbated by the generally poor collector climate in Chicago. People in the Chicago area aren't attending collector shows, from my own observation. The depression (that's what it is, IMO) is hitting the Chicago area particularly hard, and even people who still have discretionary money aren't willing to spend it. The Chicago Pen Show last April looked like a Western boom town after the gold had run out. I know of a few exhibitors who have vowed to skip the show next year after enduring 3 days of praying in vain for a few decent sales.

That leaves you with relying on people willing to participate in the auction from the internet, without the opportunity to personally view the high dollar knives up for bid in a no-return auction. With reserves apparently set pretty high according to JBV, the auction was probably doomed from the start without a good number of big money collectors personally attending.

Here's the exhibitor list they've posted:

2010 Exhibitors:
Adam Unlimited
Amherst Cutlery
Balancedigital.com (Show Photographer)
Balda Custom Knives
Maurizio Bergomi
Jack Berk
Charles Binger
Blue Line Gear
Phillip Booth
Thad Buchanan
G. T. Cecchini
Charles' Custom Woodwork
Jim Charnas
Major Louis Chow
Classic Custom Knives
Jeffrey Cornwell
CUMA RAM, Inc.
Cuttingart
Damascus Knives
Adam Drescher
Dwane Dwyer
EBossHoss.com
Dave Ellis
Emerson Knives
Emmanuel Esposito
Exquisiteknives.com
Fine Turnage Productions
Henry Frank
GTC Knives
Harumi Hirayama
Hoffman Knives
Mitch Jenkins, Knifemaker
S. R. Johnson
Robert Kaufmann
Knife Legends
Knifeology
Dietmar Kressler
Ron Lake
Matt LeFebvre
Legendary Knifemakers
Matt Lerch
Wolfgang Loerchner
Carlos Lopez
Mackrill Custom Knives
Kansei Matsuno
Richard Mattei
Moore Quality Cutlery
Hiroaki Ohta
Joe Olson
Francesco Pachi
Quintessential Cutlery
Steven Rapp
Rock Island Auction Company
Rocklin Manufacturing
Ruple Custom Knives
Jerry Schroeder
Grazyna Shaw
Paul Shindler
Silver Spooon
Ron Skaggs
Ken Steigerwalt
Mark Strauss
Strider Knives
Masao Takahashi
Takeda Hamono
Terry & Vinnie's Fine Custom Knives
Brian Tighe
Charles Turnage
Terry Veraldo
Michael Walker
John Young
 
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BowieBooster said:
I think poor attendance will prove to be a factor in this. Let's not forget that the Guild Show is next week, for one thing; how many collectors will actually travel to both shows? Also, how many makers? While there are a small number of big names and good makers listed as attending, the exhibitor list on the website is both short and lacking in several genres. Unless you're into the high end of stock removal knives or tac knives, I don't see much reason to go, outside of Thad Buchanan and perhaps a few others I'm not familiar with. To me, this also shows that a great many makers opted to skip Chicago in favor of the Guild Show. If DH III had opted to return, I'd be on my way there right now, but ...

This is exacerbated by the generally poor collector climate in Chicago. People in the Chicago area aren't attending collector shows, from my own observation. The depression (that's what it is, IMO) is hitting the Chicago area particularly hard, and even people who still have discretionary money aren't willing to spend it. The Chicago Pen Show last April looked like a Western boom town after the gold had run out. I know of a few exhibitors who have vowed to skip the show next year after enduring 3 days of praying in vain for a few decent sales.

That leaves you with relying on people willing to participate in the auction from the internet, without the opportunity to personally view the high dollar knives up for bid in a no-return auction. With reserves apparently set pretty high according to JBV, the auction was probably doomed from the start without a good number of big money collectors personally attending.

Here's the exhibitor list they've posted:

2010 Exhibitors:
Adam Unlimited
Amherst Cutlery
Balancedigital.com (Show Photographer)
Balda Custom Knives
Maurizio Bergomi
Jack Berk
Charles Binger
Blue Line Gear
Phillip Booth
Thad Buchanan
G. T. Cecchini
Charles' Custom Woodwork
Jim Charnas
Major Louis Chow
Classic Custom Knives
Jeffrey Cornwell
CUMA RAM, Inc.
Cuttingart
Damascus Knives
Adam Drescher
Dwane Dwyer
EBossHoss.com
Dave Ellis
Emerson Knives
Emmanuel Esposito
Exquisiteknives.com
Fine Turnage Productions
Henry Frank
GTC Knives
Harumi Hirayama
Hoffman Knives
Mitch Jenkins, Knifemaker
S. R. Johnson
Robert Kaufmann
Knife Legends
Knifeology
Dietmar Kressler
Ron Lake
Matt LeFebvre
Legendary Knifemakers
Matt Lerch
Wolfgang Loerchner
Carlos Lopez
Mackrill Custom Knives
Kansei Matsuno
Richard Mattei
Moore Quality Cutlery
Hiroaki Ohta
Joe Olson
Francesco Pachi
Quintessential Cutlery
Steven Rapp
Rock Island Auction Company
Rocklin Manufacturing
Ruple Custom Knives
Jerry Schroeder
Grazyna Shaw
Paul Shindler
Silver Spooon
Ron Skaggs
Ken Steigerwalt
Mark Strauss
Strider Knives
Masao Takahashi
Takeda Hamono
Terry & Vinnie's Fine Custom Knives
Brian Tighe
Charles Turnage
Terry Veraldo
Michael Walker
John Young
Click to expand...

I strongly disagree with your statement that there are a small number of "big names" or "good makers" attending the show. Look at the list. :eek:

There are a LOT of collectors who are into "stock removal", "high-end stockremoval" and "tactical knives".

Don Hanson and quite a few other forged makers haven't attended in a couple years, as it's not a forged knife show. That IMO, doesn't mean that the show is doomed. If you check the attendee list for the ABS Expo and Arkansas shows you will not find Steve Johnson, John Young, Matt Lerch, Wolf Loerchner, Ken Staggerwalt, Emmanuel Esposito, Michael Walker, Masao Takahashi, Steven Rapp, Thad Buchanan, G. T. Cecchini and many other fine knifemaker on the above list.

I feel poor attendance is more because there's just TOO MANY Knife Shows and TOO MANY collectors with excuses as to why they don't attend them.

There's one thing for sure, there will only be knife shows as long as collectors/buyer attend and purchase knives.
 
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Going down that list, I counted at 30 dealers of knives and other stuff in attendance. That is a lot for a small show.
 
TennKnifeman said:
The pure fact of life is if a knife does not meet reserve in an active open marketplace--then the reserve was too high. This comes usually when collectors pay too much to start with or get too optimistic about their expected return.

When the rubber meets the road, the only thing that matters is what someone is willing to give.
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Exactly.

I am always amused when someone lists a knife with a claim that the particular knife is "worth" $xxxx.xx, but they are going to sell it for something less. Then, inevitably, the knife sits for days and weeks with no interest. Then of course the seller lowers the price. Again. And again. Still no sale.

Guess what? It is not worth "worth" $xxxx.xx, or anything close to it.

Maybe that is what seller hopes to get for it. Or maybe that is what seller thought he could sell it for when he bought it in 2005 when the economy was much stronger. Or maybe that is even what he paid for it back before a "new normal" set in back in 2008.

None of that matters. It is only "worth" what a willing buyer will pay in an active and open marketplace. IMO, folks really should abstain from these ridiculous claims as to what their knives are "worth" and just state how much they want for them.

BowieBooster said:
I think poor attendance will prove to be a factor in this. Let's not forget that the Guild Show is next week, for one thing; how many collectors will actually travel to both shows?

. . .

This is exacerbated by the generally poor collector climate in Chicago. People in the Chicago area aren't attending collector shows, from my own observation. The depression (that's what it is, IMO) is hitting the Chicago area particularly hard, and even people who still have discretionary money aren't willing to spend it. The Chicago Pen Show last April looked like a Western boom town after the gold had run out. I know of a few exhibitors who have vowed to skip the show next year after enduring 3 days of praying in vain for a few decent sales.
Click to expand...

I agree entirely with the parts of your post I have quoted.

Prices will have to come down if folks want to make sales.
 
I'm not looking to knock anyone, let alone makers. I know who the "good" and "big" makers are, and hence why I posted that list. I do collect some folders and stock removal, and have run the gamut from Sawby, Osbourne & Kious to McBurnette & Barry Davis -- in better times, anyway. I have also been trying to get out of that "invester" mentality wherein the secondary market determines what is "collectable" based solely on getting at least your money back when you go to sell -- this is supposed to be a hobby, a source of enjoyment, not stress over whether a piece will appreciate in value. To me, that's the dif between an "investor" and a "collector."

But, back on point, I also want to see Bowies. I want to see forged blades. I want to see period reproductions. I want to see the broad spectrum that the hobby has to offer -- especially at a so-called "Exposition" in the nation's center and second largest metropolitan area.

This isn't a "something for everyone" show, IMO. There are basically high end folders, Loveless style fixed blades, and tactical knives (W.L. is in a league by himself, as are the prices for his stuff). If those are your areas of interest, you are in heaven, assuming you have a large satchel full of cash and get there in the first 5 minutes, before the usual deep pockets buy everything good out the second the doors open. We are talking high grade investment folders/fixed blades and tactical knives across the gamut. Where's the in between?

If those aren't your forte, poop to you, as some might say (and how I kind of feel). This is a pet peeve of mine. Why should I have to fly to Texas or Arkansas to see and buy a maker's work? You say there's too many excuses not to attend a show? I counter with, please, GIVE me a reason to attend a show. I WANT to attend a show. Give me one within reasonable driving distance from the nation's second city without a limited focus. In this economy, promoters can't reasonably expect people to come to THEM, pockets full of money at the ready, spending the price of an expensive knife just to attend in the mere HOPE that there might be something to buy 10 minutes after the doors open. It's not a realistic model anymore.

I'm all for forged blade expos, but why can't the Chicago show have a few forgers on hand? That's somehow unreasonable? They sure attend OTHER shows. I'm pretty certain the proximity of the Guild Show is the primary reason for this.

Anyway, I'm sorry to babble, but to be here typing while a knife show is 45 minutes away at this very moment is very upsetting to me. Cut the number of shows, put them in more accessible location, and expand the scope of the shows, rather than the number. Bring the makers to the collectors, and the collectors will come. Don't tell the collectors to fly to Timbuktu, cash at the ready, for a chance to enter a drawing to buy what's left after the "investors" have taken their pick.

Just my 2 cents. Again, apologies for what I realize is highly opinionated.
 
Kevin Jones said:
Will be interesting to see if show traffic and sales are more encouraging than the auction.

Wonder how the Rock Island Auction did today?
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I'm at the show. I'm not exaggerating, sales were basically non existent. There were a few bright spots but few is the operative word. Attendance was poor, I doubt more the 25 collectors showed up. The room was just empty. That said I was picked in the Lake drawing, the SRJ drawing, and three times (two friends and myself) in the Emerson drawing. The Lake and Johnson are sold and the Emersons will be too. I wa fortunate but was lucky mainly because there weren't many people in the drawings. SRJ had four knives and four entrants in the drawing. That pretty much says it all about the show. But................ Chicago is a great town.
 
martinr said:
I'm at the show. I'm not exaggerating, sales were basically non existent. There were a few bright spots but few is the operative word. Attendance was poor, I doubt more the 25 collectors showed up. The room was just empty. That said I was picked in the Lake drawing, the SRJ drawing, and three times (two friends and myself) in the Emerson drawing. The Lake and Johnson are sold and the Emersons will be too. I wa fortunate but was lucky mainly because there weren't many people in the drawings. SRJ had four knives and four entrants in the drawing. That pretty much says it all about the show. But................ Chicago is a great town.
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Hey there Martin-

Glad you lucked out on the drawings.

And quite a review, too. Over the past two years, I think some reviews have lacked clarity or the kind of content into which one can sink his/her teeth. Your review leaves no doubt about how bad the show was. Thanks for letting us know the bottom line - which probably wasn't unexpected to many.

Best,

Bob
 
Hi Martin,

I agree with Bob, very nice to give that kind of info. Too many reviewers "were excited and happy to be at the show", etc.

I'll be at the Guild Show next weekend, but only Friday and leave Saturday afternoon (that should be more than enough time there). I'll be sure to give a review.

I'll probably leave out the plane flight, comfort of the hotel and how the dinner meal was. LOL
 
Sheesh, I'm sorry to hear even many regular "travelers" didn't go. Lack of attendance by Chi-Town collectors doesn't at all surprise me, though. Looks like the smaller guys got a chance for once to buy up the high end stuff and sell it for a quick, tidy profit after (if not AT) the show. Low attendance like that doesn't bode well for the hobby, though ... not to mention the prospects for next year's show. Disappointing.
 
Les Robertson said:
I'll be sure to give a review.

I'll probably leave out the plane flight, comfort of the hotel and how the dinner meal was. LOL
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But that would only leave us with the facts. Sheesh. :p

I'm disappointed about Chicago--but not surprised. I dunno what happened, when it first came to be in 2004 it was jamming. I did over 50 images in '04 and '05. Makers were clamoring for tables. The good years.

Last year I had only 11 client images. I filled in extra time with booked studio work that happened to be there.

Sadly, it was not enough for me to continue. I asked Rob Sjaikowski (Balanced Digital) if he was interested in doing this show, as he already has a great relationship with Ed, doing his auction images. And he's good.

I wish the show, the makers, and the attendees better.

Coop
 
Thanks Martin.
Doesn't look good for the near future. That's both prestigious forged and stockremoval/folder shows now back to back with what seems to be lackluster results.
Very disappointing in that the year started off on a positive note, with a brisk Arkansas show and a Blade Show which I believe most would say was definitely better than 2009.

Will be interesting to see how the Guild Show and the Boston Art Knife Classic will fare?
I expect the Fisk Micro Show and the Ohio Classic will do fine as they are more "niche" shows. If we continue to see this drop-off in attendance and sales, there could be some pruning of shows next year. Not so sure that wouldn't be a good thing for the community long term.

I sticking to my opinion of several years ago, that the small format shows (Jerry's, Josh's, Tom Ferry's etc.) are and will continue to have a negative impact on the major and regional shows. Even though these boutique shows usually only have 25-35 collectors/buyers in attendance these 25-35 account for a lot of the knives and significant dollars diverted from the more traditional shows.
 
BowieBooster said:
This isn't a "something for everyone" show, IMO. There are basically high end folders, Loveless style fixed blades, and tactical knives (W.L. is in a league by himself, as are the prices for his stuff). If those are your areas of interest, you are in heaven, assuming you have a large satchel full of cash and get there in the first 5 minutes, before the usual deep pockets buy everything good out the second the doors open. We are talking high grade investment folders/fixed blades and tactical knives across the gamut. Where's the in between? .
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I agree - and that pretty much sums up why I haven't returned, notwithstanding the fact that I very much enjoyed the event two years ago. I'm not sure whether that amounts to an "excuse" on my part ;) - but spending money and even more valuable vacation time to attend a show means there better be a strong pull. I had a terrific exposure to Loveless and Loveless-inspired knives as well as tacticals, but there wasn't a lot to see in the forged area - and that year Don Hanson, Russ Andrews and Dan Winkler were all in attendance. Without those guys and a few more like them? Pass. Some exceptionally talented makers to be sure - just not enough in my area of interest, and like you, I like variety at a show.

Nothing inherently objectionable about this - I'm sure the ABS show doesn't draw many tactical collectors. I think all specialty shows are likely to feel the pinch a little more accutely as they are essentially fishing from a smaller pond.

Roger
 
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