Keeping records of what you paid for knives is useful for things like insurance, and should be maintained for that reason alone. A list should be maintained giving provenance, being specific on the types of steel, wood handles, little things a maker may have told you about the knife that will make it unique. For someone selling those knives on commission, or at auction, that is information that will add to the value of the knives you leave behind.
However, leaving those records as a price guide to your family for selling your knives is only really useful if you also list to whom they are supposed to sell the knives at the prices you have listed. If you don't have a buyer lined up to pay your heirs for the knives, at your price, you have set your inexperienced sellers up against experienced buyers. We all know how that traditionally will work out in any field.
Most of us overvalue our collection knives once we have purchased them. If you have your records in front of you, take them out and do a self-check on the knives you have devalued since you bought them. Anyone want to make a guess on the percentage of collectors who will put into writing the number of knives they have purchased that have gone down in value?
We think they ALL always go up (wrong! Some do. Some don't.). We want our wives to feel more comfortable with the lavish amount of dollars we're putting into knives (they're an investment, honey!), and the most dangerous part of all, we are stroking our own egos that we are wise and savvy buyers (this can also be called lying to ourselves). Some knives are winners, some are losers. I've not seen anyone bat 100% winners, except in their own minds, no matter what their list says.
The reason I am so against leaving a values list for your heirs is I have seen such lists, and looked into the bewildered faces of family members when they can't understand why this knife or that knife will not bring what Daddy thought it should be worth. In 30 years of buying and selling knives, I have NEVER seen a list left by a collector that was remotely accurate to current market conditions.
The proof comes when it is time for the knives to be sold. And again I will state that a list of what you paid for those knives, or what you think they should be worth, will mean absolutely nothing to the person buying your knives. He will base the amount he is willing to pay on market conditions, not on what your list says.
The biggest danger to a list is that unless you are buying and selling in this market, if you are not going to most of the shows, spending hours on the internet, etc. you really do not have your finger on the pulse of the market. I know there are a few, a very few, who do. Some are in this forum. Some are posting in this forum. But thinking the average collector will keep up with the market is not based in reality.
For most collectors knives are a hobby--not a profession or obsession like it is for some of us, and they will not take the time to stay current with the market.
Assuming that a collector will follow advice, even when it is to their benefit, is a misconception in the knife business.
The one troubling thing about internet forums is everyone with a computer, time, and an opinion can post -- and to the casual forum surfer, everyone has the same credibility.
So for the benefit of those who have read the thread so far, I would ask for those giving advice on buying and selling knives in this market to let us know how many knives you actually sell in the course of a year?
How many estates do you handle for the heirs of collectors?
How many collections annually do you purchase, sell, or broker?
How many shows do you attend at which you rent a table and actually buy and sell over that table?
That is where the rubber meets the road. I would suggest the casual observer pay close attention to those who actually go and do, versus those who have opinions but very limited experience.
Anyone can have an opinion--experience is a bit more difficult to obtain.
