How to figure out the value of a knife

I spoke with the seller about these knives and his original purchase price was almost exactly the sales price. The knives were sold at the Chicago knife expo auction in 2008. Not much in terms of ROI but from what I can tell it was a mutually beneficial transaction.

Good point Martin, as I haven't said eBay and this exchange forum are not good places to sell, just definitely not the best in terms of ROI.
I will say again, this forum is a great place to buy. A friend purchased a Fisk NLT a few weeks ago here for about $4000 that was worth $5200-$5500 on the broad market.

If both buyer and seller are happy, that's all that important.
However, I'm most happy when I profit and get what the broad market determines a knife is worth not what eBay or the BF exchange participants (or deal seekers) determines it's worth.
 
^^^ Steven, great example to prove my point.
Sold quickly (11min) however probably not at as good a return as the seller could have gotten by other means.

I think that is the right price. What the Forums did is match up a seller and an interested and funded buyer. The seller could have screwed around for months trying to get more money from another buyer...maybe they already did that..so I don't think I proved your point.

I don't think you are right or wrong.....you do what works for you. I personally will not sell knives to overseas buyers that I don't know, and will not sell to China at all...ever....we all need to go with what works for our own methods and policies.

For my methods, I have done very well with selling on BladeForums Exchange. Had a little mini-show Thursday night at Blade and didn't sell anything. Have put up stuff in the Exchange since blade and have sold 5 knives....all at a profit, around 25% ROI.

Best Regards,

STeven Garsson
 
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I think that is the right price. What the Forums did is match up a seller and an interested and funded buyer. The seller could have screwed around for months trying to get more money from another buyer...maybe they already did that..so I don't think I proved your point.

Yes, and perhaps he could have contacted a particular dealer and instantly received $500 more as they are in strong demand. However he is happy as is the buyer so all is well.

I don't think you are right or wrong.....you do what works for you. I personally will not sell knives to overseas buyers that I don't know, and will not sell to China at all...ever....we all need to go with what works for our own methods and policies.

If you go back and read my first post on the matter, you will see that I stated what worked for me as opposed what works for Coop. I assume the opening poster is seeking a variety of views to help in making his decision.

For my methods, I have done very well with selling on BladeForums Exchange. Had a little mini-show Thursday night at Blade and didn't sell anything. Have put up stuff in the Exchange since blade and have sold 5 knives....all at a profit, around 25% ROI.

In my opinion most often the particular knife dictates the best method of sale to insure maximum return. All I'm saying is that eBay and the BF exchange are on the bottom of my list for selling the types of knives I sell. Perhaps you left $$$ on the table at 25% ROI. ;).

Best Regards,

STeven Garsson

I mention this because (though it's unrelated) the timing is Ironic in that we are discussing eBay. I had the computer stolen from my Jet Ski two days ago and just minutes ago I finally found one on eBay. After being told it was "in stock" and paying/completing the transaction, I'm now told it has to be ordered with an undetermined delivery date. Another reason why I not only don't sell on eBay but don't buy if I can find it anywhere else. :grumpy:
 
So for those of you who say there are better places to sell knives than here and on ebay. What would those be?
 
jtech wrote:
So for those of you who say there are better places to sell knives than here and on ebay. What would those be?

That is the mystery of selling custom knives.
 
So for those of you who say there are better places to sell knives than here and on ebay. What would those be?

I believe you will find this isn't as simple as someone telling you where to list them. You probably need an expert like Bruce Voyles to auction the entire collection or experts in each category of knives (Randall, D Holder, Hancock etc), who can advise you on what to expect to get and supply contacts who are more likely to purchase these knives for what they are worth. Contacts are very important to getting the most out of your knives.

Or if you are interested and are willing to take a long term approach, you could spend time here, go to a couple shows, perhaps join the CKCA, photograph the knives, perhaps put them on a photo site, learn about the knives, the makers, make contacts and sell knives as you go. You may find this to be the most enjoyable and rewarding route. Sounds like your grandfather enjoyed the hobby.
 
Hi Kevin,

Let's bang heads again. :D Offering the knives to a legitimate auctioneer or dealer will save a LOT of trouble, but it won't necessarily get the seller the most value. He's not doing the work.

Other sites? Even the CKCA is a forum and those classifieds there are no different than here. In fact listing it on one or more forums will gain most traction among experienced onlookers. One site does not cover all the bases.

Selling as he goes? We're back at square one. Where? :p

So the answer to his question is basically: Besides eBay and the knife forums the remaining options are very limited. (To offer to another dealer or auctioneer, or even to purchase and set up a table at a show (a doubtful proposition)).

Gaining all the knowledge and getting acquainted with Custom knives is fine and all, but if a sale is what the buyer wants, he's got the answers he needs already.

Once again it also gets back to the the differences of Value vs. What It Will Sell For. One is highest perceived, the other is an exercise in smart marketing. All strategies should promote the latter.

That said, gaining knowledge WILL offer the seller keywords and history to enhance the listing, wherever it goes.

This is a good topic.

Coop
 
And if you really don't want to go to all the trouble acquiring the knowledge - but just want to get the knives sold easily - you can always go to an online knife purveyor to make your life simpler, but expect a 25% haircut off the top.

Best,

Bob Betzner
 
Hi Kevin,

Let's bang heads again. :D Offering the knives to a legitimate auctioneer or dealer will save a LOT of trouble, but it won't necessarily get the seller the most value. He's not doing the work.

Right Coop, an auctioneer won't necessarily get the seller the most value, however in this case we are talking a non-collector here who has what appears to be a significant collection to dispose of. He has said he hasn't even heard of many of the makers represented in the collection. I might be going out on a limb here, but I think an expert like Bruce Voyles could get more at auction for jtech then he will get on his own.

Other sites? Even the CKCA is a forum and those classifieds there are no different than here. In fact listing it on one or more forums will gain most traction among experienced onlookers. One site does not cover all the bases.

I certainly hope I didn't appear to be stating that the CKCA forum classifieds will produce better results than here on the BF because I certainly didn't say that. In fact, in my opinion forums in general are best suited for buyers not sellers. Why? Because many sellers will list knives at market value then proceed to drop the price over and over again (sometimes hourly) without giving the knife a chance to sell. This results in buyers just sitting back anticipating further reductions. Other times sellers will list low and that's when we see the knives snatched up in 11 minutes. Lack of discipline and/or knowledge of the market in sellers equals deals for buyers.

Selling as he goes? We're back at square one. Where? :p

Coop, not back at square one because by following my steps jtech is educating himself in becoming familiar with the knives, the makers, the market, properly marketing his knives via good photos/photosite and making contacts as he goes.

So the answer to his question is basically: Besides eBay and the knife forums the remaining options are very limited. (To offer to another dealer or auctioneer, or even to purchase and set up a table at a show (a doubtful proposition)).

Coop, not limited at all. I suggested an auctioneer and category expert (I didn't say dealer, though some dealers would be a good option) because jtech has a limited knowledge of custom knives. Even knowledgeable custom knife collectors have difficulty profiting selling knives. I speak quite a bit on selling custom knives in my collecting/investing seminars.
Again, not limited at all in my opinion.

I didn't suggest jtech set up a table at a show, but to attend a couple shows to become more educated on custom knives. Setting up a table at a show trying to sell knives he knows little about would be the worst thing he could do in my opinion.


Gaining all the knowledge and getting acquainted with Custom knives is fine and all, but if a sale is what the buyer wants, he's got the answers he needs already.

Once again it also gets back to the the differences of Value vs. What It Will Sell For. One is highest perceived, the other is an exercise in smart marketing. All strategies should promote the latter.

That said, gaining knowledge WILL offer the seller keywords and history to enhance the listing, wherever it goes.

One's contacts play a very important role in selling and maximizing your ROI on custom knives. As the collector who most appreciates and diligently collects the type knife you are selling will most likely pay more then the deal seekers found on forums and eBay.

This is a good topic.

Coop

Wow, I'm sure catching a lot of flack here because I elect not to sell on forums and eBay. I simply follow a collecting/investing philosophy that works for me.
 
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And if you really don't want to go to all the trouble acquiring the knowledge - but just want to get the knives sold easily - you can always go to an online knife purveyor to make your life simpler, but expect a 25% haircut off the top.

Best,

Bob Betzner

That's right Bob. Consigning through a dealer can be a good option. And sometimes at less than 25% if you are giving him volume (especially a whole collection).

The way I look at it, your consignment fee is paying for the dealer's contacts.
Sometimes (especially if purchased the knife at a good price) you can come out ahead even after paying the consignment fee over selling a knife yourself.
Yep, dealers have access to a much larger pool of buyers (or contacts) than most collectors and they can often get more for the same knife than you can.
 
Here is a great way to sell thousands of dollars worth of handmade knives on BFC without ever buying a Gold or Platinum membership.

-Promote yourself as an expert in high-end, custom knives
-Make thousands of posts in the BF Custom forum with a convenient link to a "for sale" page of your groovy collection with really great photographs
-Start your own collectors club


Am I missing anything?
 
I'm all for keeping it in the fold--of the knife industry participants

While knife dealers have a wide range of contacts, as mentioned, I would venture that qualified knife auctioneers who have been active in the knife business for over 30 years might have a few contacts as well. (clearing throat!)

The Ebay option is valid if you have one or two knives and plenty of free time, and you know how to photograph a knife, and how to describe it properly.

But to advise an absolute novice with no experience in any of the above to do so is assuming he will get top dollar in that market even if he is unable to accomplish the basic qualifications of accurate descriptions and good photography.

By the time you pay the various fees for listing on some of the list-it-yourself online auctions I think you will soon discover the single digit difference between the eguys and a professional auction service (clearing throat) is a few points off the top worth giving up, and keeps it in the fold, so to speak.

The profit ebay makes will go, well goes God knows where. The profit paid to a professional auctioneer within the knife market will in many instances be recycled back into the business--buying tables at a knife show, buying knives, of even taking some of that profit for the services rendered and throwing a bit of it into advertising for a knife show, or devoting time to a knife organization fund-raising auction at no commission.

I would also suggest on many handmade knives, especially in this current market on less than the "latest-right now-hot knife" that a professional auctioneer will get MORE than most sources. Where else can you go with an ivory micarta handled hunter from a maker who stiffed a bunch of people before he got out of the business? The owner of the knife still has the knife and still needs to get money for it.

I also question calling a knifemaker and asking the value of a knife in the aftermarket. In all my years of auctioning I have yet to have a knifemaker give me an accurate value on his own knife. I have has a few tell me I was starting the bids on their knives too cheap. Some even laughed at me when I suggested they bid on their own knife so they could resell it if I had it priced too low, or suggested since they were years behind in orders that they contact one of their customers and let them know one of their knives would be at auction.

I have had one "legendary" knifemaker, a former Guild president, actually pull me aside at a Guild show and tell me that I should pull his knives from auction if they were not bringing what HE thought they should. When I explained I was not in the business of building a false value in the aftermarket but in the business of representing those wanting to sell their knives--and therefore getting real hard cash for their knives, that legendary maker said, "Well you should know that there are a few makers who have talked to me about actually taking you up an alley."
I had never been threatened in that way before. My response was, well let's just say it didn't advance the conversation in a conciliatory fashion.

My last point/advice is the worst thing a collector can do is leave a list of what he thinks his knives are worth (as suggested earlier). What happens is the family member prices the knives based on the list. The knives that have gone up dramatically in value will be snapped up instantly, cherry picked, at a low price, and the average ones will dribble out at average prices, and the last ones, the ones that did not appreciate or have gone down in value, the family will be holding those two years from knives, thinking that anyone who offers them less (and perhaps a true market value) is trying to take advantage of them.

Overall in this thread I think is they are good advice for someone active in the knife game, with some knife knowledge.

A family member asking for advice who is not knife savvy--but is doing the research as a beginner as he should, but does not have the background or knowledge to accurately describe and properly photograph a knife for sale online is at a serious disadvantage. Note he stated his grandfather had a "large" collection. To do that correctly via an online auction you are talking a tremendous amount of time and effort.

You don't usually want to sell your house through someone who has just taken the two-week real estate course, nor if you have a heart problem do you suffice with going to a general practitioner. The natural assumption that a real estate agent with years of experience and contacts, or a heart specialist who deals with heart problems every day, will do a better job.

However, the typical logic of the knife business, is opposite that. Why utilize someone who knows what they're doing when you can blunder around and do a botched job yourself, but save 4%?

One example of this reverse logic is a few years ago a well known knifemaker walked up to a dealer friend whose tables were beside mine. He looked into the box and pointed at two of his knives--nice ones--engraved, well done.
"I came over to see if you really had those knives," the maker said, "I was told you wanted $3500 for them, and wanted to let you know you're selling them too cheap."
"I marked them up based on what I paid for them," the dealer responded.
"Well I sold them for $7000.00," the maker said.
The dealer smiled, "Well I have a great deal for you then. Why don't you buy them from me for my price of $3500.00, then you can take them to one of your customers and sell them to them for $7000.00, I'm happy, you make $3,500, and you do not have to spend a minute in your shop to do so."
The maker stood there with a blank look on his face, said, "Well, they are priced too cheap," turned and walked away, the two knives remaining in the dealer's case.
 
Here is a great way to sell thousands of dollars worth of handmade knives on BFC without ever buying a Gold or Platinum membership.

-Promote yourself as an expert in high-end, custom knives
-Make thousands of posts in the BF Custom forum with a convenient link to a "for sale" page of your groovy collection with really great photographs
-Start your own collectors club


Am I missing anything?

Yes Anthony, you are missing A LOT.
Like the individual you refer to works 50-55 hours per week promoting/progressing custom knives, not himself. Yes, while you are at your job making that fat paycheck, he's working just as long and diligently trying to advance our community for no pay. So what little he makes from selling a custom knife from time to time is pretty insignificant in the grand scheme of things.

I would like to sincerely thank you though, as for you to think I could start and organization such as the CKCA on my own is a wonderful complement, however one I certainly can't take credit for.
 
Hi Anthony,

Kevin is right...you gave him way too much credit. There was no way he could have created the CKCA himself!

Hi Kevin,

50 -55 hours a week! Really? Im going to have to call BS on that. That would be 10 - 11 hours a day (Five day week). Almost 8 hours a day 7 days a week.

Anthony is right as well. You do promote the knives (and their markets) of the knives you collect. You do so because you love this type of knife but also because you now have Tens of Thousands of Dollars tied up in them.

Kevin you are not alone in the "promotion" of the knives you buy. Your participation and "promoting" of the styles and makers is partly what this forum is for. To show photos, discuss custom knives, their materials, construction techniques, sheaths, ideas, concepts, shows, hammer-in's, gatherings, articles, etc.

Hi Jtech,

I think it is important for those coming here to seek "Prices and Values" of knives that they check out the "experts" on this and other forums. To find out what the "expertise" is.

Take the Hancock for instance. I suspect no one really knows what it is worth...we can guess...but we don't know.

You can contact Tim and find out what it sold for initially. I'm sure that would be an excellent starting point.

The ABS website no longer lists the dates the makers received the MS or JS stamps(???). Tim's website shows he received his MS in 1994.

Perhaps the first question to be asked is why no MS Stamp? To acquire the Master Smith rating takes years of hard work to attain. Consequently, the makers are generally very keen about putting "MS" on their knives somewhere.

Perhaps it is a different "Hancock"?

Perhaps it is a forgery?

Remember if someone tells you a knife is worth a lot of money...tell them you will take half in cash. If they don't buy it....there is a reason!

Keep in mind that TennKnifeman wrote about the maker who passed on his own knives at half price. That is a true story. I had that same maker approach me and tell me I should buy them. I told him that I understand he was offered the same knives and passed. My question to him was, if they are such a great deal why didn't you buy them. He just shook his head and walked away.

And now the rest of the story (apologies to Paul Harvey):

The maker wanted me or another dealer to buy the knives. For one reason only. So we could sell them for say $5,000 or $6,000 (the maker would be happy to verify that his current price for a similar set is $7,000). However, shortly after the dealer sold them he would raise his price....as obviously if the old knives are worth $5,500...a new set should now sell for $9,000.

This is the reason he would not buy the knives. If bought the set and sold them for less than the current $7,000 (in his mind) this would devalue his knives.

To his credit he understood his market. And fortunately for him this happened before the Internet was in full swing.

Had this happened years later, the strategy would have been to buy the knives, clean them up and then consign them with a dealer at a higher price.

There by removing the inexpensive older knives from the market at the $3,500 price.

Remember when you get a chance to look behind the curtain at Oz...take the opportunity. But be careful as some illusions may be shattered.
 
Kevin - Thanks for the time and responses. We dig deeper when pressed.

Bruce - I mentioned the eBay thing as it IS one option and has served me VERY well -- in the past, even when I was a greenhorn. Like you mention: Only good for limited pieces AND a requirement to have good photographs. No doubt for Jtech working with a qualified auctioneer would be a smart idea if this is untenable. Good examples. :)

Les - Giving good examples of conditional aspects that affect sales. Besides your assessment of the Hancock, the photo which shows a sheath shows it kinda worn. If the knife has been used, it's due another probable reduction.

Anthony and Les - Why so snarky? You guys are better than that.

Good discussions. I know there are holes in my dialogs, but that's a provocation to discuss. ;)

Coop
 
Hi Coop,

Snarky?

I agreed with both Anthony and Kevin! Just practicing that "Coop Kumbaya"

As for the sheath. I don't know how much it adds or takes away. $50 +/-

The fact that it is not marked MS is more intriguing to me.
 
Hi Coop,

Snarky?

I agreed with both Anthony and Kevin! Just practicing that "Coop Kumbaya"

The fact that it is not marked MS is more intriguing to me.

Kevin couldn't have gotten the CKCA going without a lot of us helping out....but he is the one that pulls it all together, and makes the magic happen.

The magic is that an organization founded to assist and promote the collector and custom made knives has over 200 members in just over two years of existence, owes allegiance to no other organization and needs no outside funding or assistance to exist.

Kevin is not without his faults or detractors, you all know that....but he works very hard for no pay and does a great job.....and right now....NO ONE else wants to do what Kevin does, and probably couldn't do it as well as he does.

So please, cut him a little slack, even though it is hard sometimes....right Les and Anthony?

As far as the marking, Les, most if not all Mastersmiths will not mark a blade with the MS stamp if the knife has been made without forging. My suspicion is that this is the case with the Hancock.

Best Regards,

STeven Garsson
 
Hi STeven,

Good point about the knife not being forged...that may in fact be the answer.

STeven, as you know Kevin sought out and loves his leadership position. It is his choice and his alone to retain the "mantle" given to him.

I can't speak for Anthony, but I will leave the keeping and cutting of the "slack" to more civil and gentle beings such as you and Coop!

Im sure that the CKCA and the "promotion" of custom knives is a labor of love. Im still calling BS on the 50 -55 hours a week! :D

With that much time invested I can't understand he missed that Jerry Fisk was listed by Bruce Voyles as one of 12 people to meet in, not just custom knives across the board. ;)

Im sure Kevin pours over KI..if no other reason than to read Les's Picks! (For Purposes of Full Disclosure that was a Shameless Act Self Promotion..LOL) :D
 
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