How to figure out the value of a knife

Rather than not providing price information I would suggest that it is your collection, and the values you place on your work, while it may not reflect actual values, may very well be if interest to someone in the future of your collection. You could add a disclaimer to the effect that vlaues may have increased or decreased, but this was the value you placed on each knife.

I know that I have some family treasures that I would love to discuss with those who passed them down to me, call it sharing time with the past if you like. Just maybe some future individual will share time with you over something special to both of you, long after you are gone.
 
I don't see any utility in assigning a dollar value to sentiment. There are knives I posess which are of significant sentimental value to me, but placing an inflated dollar value on such a knife is at best an excercise in self-deception, and at worst, a significant impediment to my heirs seeking to sell my collection after I'm gone. "But his records show this knife is worth a $100,000 - what do you mean it's only worth $500??"

Sure, a knife can be worth more to you than its market value. But generally speaking, that worth cannot be meaningfully quantified in dollars.

Roger
 
TennKnifeman said:
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).
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this is SO real:thumbup:. And so all encompassing for us humans.
Wise and savvy? Most of us AIN'T!
 
My wife wouldnt even begin to know how to sell my knives if I croaked tomorrow. I was thinking of asking one of my knife buddies if he could step in and help out but they're scattered all over the globe plus I would hate to burden them with the responsibility. Its a tricky situation no matter how you slice it. You have to wonder how many collections have ended up being given away or - horrors! - tossed out because of this very dilemma. I guess a spreadsheet for insurance purposes couldn't hurt though. Although if my wife ever found it you'd bet my nuts would be in mortal danger. :D
 
Like most, I have some knives in my collection that have appreciated in value and some that have decreased in value since I purchased them. One thing is for certain, the values will change before my death or I decide to get rid of them. I have no illusions about the current value or future value. I have been clear to my wife that not one knife was bought with the idea that it was an investment in anything other than my sanity. My investments are made in other areas that she is well aware of.

I think the key to this whole issue is to have someone that you trust to treat your family fairly, that knows enough about your collection (knives, guns, cars, or whatever) to help dispose of it when it comes time. Leave clear instructions if you have any particular pieces that you might want to deal with individually (like give to a friend). Your family needs to know who that trusted person is and it would not hurt if that person knew ahead of time that he was going to be called on.

To me, providing good information to my wife now about "my stuff" is the best way that I can protect her and make things easier when I kick the bucket. It could happen anytime. You seldom have the luxury of knowing ahead of time. What I want to know now, is how much are her shoes and pocketbooks worth and how do I get rid of them if she goes first? :D
 
Hmathews said:
Like most, I have some knives in my collection that have appreciated in value and some that have decreased in value since I purchased them. One thing is for certain, the values will change before my death or I decide to get rid of them. I have no illusions about the current value or future value. I have been clear to my wife that not one knife was bought with the idea that it was an investment in anything other than my sanity. My investments are made in other areas that she is well aware of.

I think the key to this whole issue is to have someone that you trust to treat your family fairly, that knows enough about your collection (knives, guns, cars, or whatever) to help dispose of it when it comes time. Leave clear instructions if you have any particular pieces that you might want to deal with individually (like give to a friend). Your family needs to know who that trusted person is and it would not hurt if that person knew ahead of time that he was going to be called on.

To me, providing good information to my wife now about "my stuff" is the best way that I can protect her and make things easier when I kick the bucket. It could happen anytime. You seldom have the luxury of knowing ahead of time. What I want to know now, is how much are her shoes and pocketbooks worth and how do I get rid of them if she goes first? :D
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Well said Harry:thumbup:
 
Hi Ed,

Les: If I did make boots or shoes, youi would never fill them.
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LOL....your right...I have never wanted one of your knives...why would I want anything else you make.

As for filling your shoes (if you are speaking metaphorically) . Ed you have done very well for yourself. You are primarily known for one type/style of knife.

But compared to other world class ABS Mastersmith's your work appears to be plain. You seldom if every step away from brass (the beginner's guard material) and sheep horn. Most if not all of the top ten ABS Mastersmiths move outside their comfort zone. Mosaic Damascus, engraving, folders, carving, etc. are now the norm for the top ABS Makers.

Ed from time to time we all suffer the danger of believing our own press. This is especially tricky for you as the majority of that press...is written by you.
 
Hi Joe,

I seem to get a little cranky when I come back from the Blade show. LOL. I just can't stand the complaining by the makers about their lousy show and why it is everyone's fault but theirs. Added this year was the maker's who got their panties in a wad over RJ winning his 4th Best Tactical folder award.

I don't know if the custom market is starting to become a microcosm of certain segments of society today that have s "sense of entitlement". They fell that because the make a knife and have 10 raving fans on a fourm...their knives are really as good as the top makers out there.

We all know there are a lot of knives out there that are more hype than substance. Often these knives/makers have a short "Shelf Life".

With regards to this thread and the knives involved.

Pricing and value of a knife to a large measure is based upon the person buying it.

However, on the Internet and at shows who will let you know what the knife is worth. Not just dealers...but makers (review Bruce Voyles thread about the maker who wouldn't buy his own knives back at half price).

Often collectors will value a knife based on their love for the maker, type of knife or what ROI they hope to get out of their collection of said makers work.

All of which are biases, unintended perhaps but a bias.

Dealers have a better idea (but in no way a perfect knowledge base). Some have certain biases as well. I had a fellow fourmite send me an email showing 3 of the same model of a Loveless...all with different prices. The pricing seemed to have more to do with "sizzle" than "steak". Then again maybe it is a signal to those wanting a Loveless that given the number available for sale out there. Perhaps the posture to adopt is one of "wait and see"?

Auctioneer's perhaps more than anyone else deals with the sometime brutal reality of the aftermarket. As each auction is a "snapshot" of the current market.

When people come to the forums looking for "pricing" advice...they are almost without exception looking to sell the knife. My advice to them is now and always has been...check the validity of the source.

Generally the actual price that will be realized will be in the middle range of the prices that were quoted.

Kinda like Olympic Diving...you throw out the high score and low score and average the middle scores.

Joe, thanks for your concern...Im on vacation in IL, got some good bass fishing in yesterday and will go again on Monday. Weather is so cool compared to GA.
 
a common theme seems to be that fellas are not sharing their collections or expenditures with their wives. I guess I'm different. Phyllis is part of my life and my partner and I would never consider hiding any financial info from her and she and I both participate in the collection and she sees every knife I have and knows the value of it or how to find the value that we have used to own the knife. Hopefully she will have a couple of folks to get assistance from as will my children. How they dispose of the knives is up to them just like how they dispose of any other investments or our home. I just have to trust that I have been smart enough to provide them with info about our net worth including collectibles (many of which are worth far less than purchase price but are non the less enjoyable by ourselves and maybe family). I just don't want my family thinking that a few hundred $ spent on a knife was not just a few $ as I know some collectors allow their spouses and family to believe and then would be shocked to learn at how little $ was realized in a sale of those same collectibles because a "smart" buyer took advantage of a non-knowledgeable seller.

Will all knives sell for more than the purchase price? Unlikely!! I'm not even sure if most will but from past experience in having sold probably a few hundred knives over 30 years, I can say that my record for receiving more than cost has been on the extreme positive side. Some years and some knives are better than others but fortunately, I'm not in the business of selling knives and at the moment have no reason to part with something at a loss if I don't desire to. this may change as one can't predict the future. Then again, I only have a small modest collection.
 
At one point I was thinking about my collection and what would happen to it if something were to happen to me. I told my son I was going to give him a list of my knives and their approximate value and his response was " Why bother, you won't know what happens to them after you're dead anyway." He's right. And if my knife collection were worth enough to provide for my family after I'm gone then my collecting would be way out of line. I'll leave a list and a note telling my heirs which friends of mine to ask for advice if they want to sell the knives. Other than that I'm not giving it a second thought.
 
martinr said:
At one point I was thinking about my collection and what would happen to it if something were to happen to me. I told my son I was going to give him a list of my knives and their approximate value and his response was " Why bother, you won't know what happens to them after you're dead anyway." He's right. And if my knife collection were worth enough to provide for my family after I'm gone then my collecting would be way out of line. I'll leave a list and a note telling my heirs which friends of mine to ask for advice if they want to sell the knives. Other than that I'm not giving it a second thought.
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I really like that Martin. :D
 
and while one can't control what children do after you are gone, one hope to not have raised stupid kids that are willing to throw away $ or maybe I just think differently as I value $ which I had to work hard to get.
 
It's been suggested quite a few times here to seek help from the maker in determining value of a knife. While I also encourage this I would be cautious in using the maker as your only reference as some makers don't track their knife values on the secondary market. This is unfortunate since a maker's secondary market has a considerable affect on their success on the primary market.

I would suggest following professional real estate and automotive appraisers lead in utilizing several tried and true methods to determine value of a knife. These methods may include but not be limited too:

Comparable Sales - check recent sale prices of the maker's (like) knives. If no comparables are available check historical prices and weight in current market conditions. Sometimes comparing with like knives from other maker's who enjoy the same market position can help a little.

Expert Opinion - Ask the maker, collectors who participate in the maker's markets, dealers who offer the maker's knives, auctioneers etc. Not a bad idea to get a couple opinions here.

General Marketability - Just how marketable is the specific knife in regard to style, condition, fit/finish, design, materials used, age and ergonomics etc.?

Component Pricing - Granted for the more experienced collector, however start with the maker's most basic knife in the particular style and price/value each component to get the total price. Some makers price their new knives this way. Say, start with a Tim Hancock basic fighter, add XXX for ivory/stag, XXX for damascus, XXX for frame constructed handle etc etc.
I usually use this more for verification after utilizing other methods to get to my price.
 
I have my own list of my collection for my family.
In the list, I write the place where I think the best...even the better place(or person) to sell each knife.

When I will be gone, I will be happy if my collection will get some value for my family.
So I leave the information where(or who) my family should sell each knife.
But as well as it...probably more than it, I do hope that my knives get the new owner who loves my knives.

Japanese sword collector always say "We do not HAVE swords, but only KEEP swords at the time we live. We must pass them to the next generation with the correct information.".
I keep my knives as well.
 
KYJ: Good planning and beautiful thoughts about "we only keep" them for a while and pass them to the next generation with the correct information.

Many times I have suggested that those who keep a knife for a while keep a diary about the knife and their thoughts to be passed on with the knife to the next owner.
 
Telling your wife what you really paid for knives? Depends on the wife.

The way it often works is as follows:

"Honey, there's a knife auction this weekend--and there will be some bargains in it, (with the implication: there has to be because a lot of makers are always complaining about the low prices their knives bring at auction!) -

- So I'm going to take out some money from savings (or my cash stash, or sell something useless like that annoying jet ski), and buy some knives which be worth much more than I pay for it (even though I'm in a room of knowledgeable knife collectors and dealers) .

The wife, trusting soul that she is replies, "Ok honey, that sounds good."

Now for the dose of reality--once you get that cash in hand, and the wife realizes that it is discretionary income--if you do not buy knives with it, or at least do not come home with a knife or two purchased at some undisclosed price and decide to squirrel away the remained of cash for your next poker game with the boys--if you bring that cash back home, we all know the wife will find some useless use for it, like a new couch.

I have a good friend who had assembled a cash kitty which his wife didn't know about, buying, selling, adding to as he could. It became a nice little kitty. So much that he decided to get a good count on it.

So he waited until his wife went shopping one Saturday morning. Gave her 20 minutes to clear the area, and began spreading out the cash on his coffee table. He had it all spread out when the front door opens and his wife barges in.

"Wow--where did all that money come from," the wife exclaims.

"What did you do?" I asked him.

He glumly looked up at me and answered, "Wanna see my new stainless refrigerator?"

So yes, there are probably a few men who actually tell their wives the full and complete truth about what they have paid for their knives--and what their knives are really worth (if they have a real clue themselves). So to those few I will say, "Good for you!"
 
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