How do you put a monetary value on a knife?

[golok]

Take, for example, the Mark 1 Trench Knife. Also known as the "knuckle knife,", the Mark 1 gained its reputation in the trenches of the World War I battlefields.
The 6-3/4-inch blade which is double-edged is valued between $275 and $550, depending on the brand and markings.
My question is why $275 and not $315 or even $320? What goes into puting a specific dollar figure on such a knife? Or for that matter, any collector's knife?

 

[bandaidman]

The value is what someone else will pay for it........

 

[Gollnick]

My good friend and noted balisong authority Professor Roland Phlip has actually written an article on the subject. Click here to read it.

 

[mgeoffriau]

The same way you place a value on any other item: the market determines the value.

 

[Jumbi]

I keep records of the knives I buy. I enter what I paid for the knife and what the manufacture's suggested retail price "MSRP" is. I use the MSRP established by the manufacturer or the maker if it's available. Otherwise I use the sales price listed in a limited number of internet sites I use. These are sites that I have come to believe set a fair and reasonable sales price. Now if someone wants to pay over and above the MSRP, well......