I was in the restoration business for 20 years, and I have been restoreing knives for 15 years. So, I have been working with hand tools for almost 35 years now.
A good blade will never need sharpened, only honed. They use to use leather or an old belt. Now they use ceramic rods to hone a blade with. If you need more than ceramic to get a good edge on your blade, then you either let it go to long, or you need to buy a better knife.
Most knives only need to be kept polished. I keep my knives and my tools in good shape. "Take care of them, and they will take care of you". Put just a drop of oil on the pivot pin and any working parts. But be careful, because oil attracts and often holds dirt. Esp. motor oil is designed to be a dirt catcher.
Some knives has been abused or neglected to the point where they need buffed out. To really do the job right, takes years of experance. You may want to talk to Sabo, or someone who is an expert in that area. Someone who knows what they are doing, can easily double the value of a knife. Someone who does not know what they are doing, will at best only slightly increase the knife value, or at worst decrease it's value. Also, there is a high level of risk involved in buffing out a knife. Sooner or later, it's going to kick on you, and you need to be prepared so your out of the way. Just like when you first learn to use a knife, you learn to stay out of the way of the blade, when it slips or skips on you. Thanks, JohnR7