Just kidding. It's where some daring individual or company is interested in sharing a device (knife/gun/flashlight...er..ok, no guns) they like and offer it up to pass around to forumites who agree to use/not abuse the object for a few days and then pay the postage to send it on to the next guy on the list. Generally passarounds seem to be limited to about ten folks at a time as this will likely keep the piece in the field for most of three months.
The individuals who are willing to risk a valued item in the interest of sharing information are most commendable in my opinion.
Sometimes a passaround is arranged where a bunch of forumites who are interested in a particular item will each contribute a few dollars up front to one who has agreed to administrate the whole adventure and to facilitate a group purchase of the single item and then pass it around. The theory is that at the end of the passaround a raffle is held including only those who contributed and were involved in the passaround and one of them ends up owning the passaround piece. This seems to be a new phenomena and I believe that there are a couple of these going on as this thread is written but I don't know of any where the raffle at end has been held yet.
Whoever wins the raffle will most certainly end up with a piece that has some wear on it, but will likely have only invested 8-10% of the item's original purchase price for his chance/involvement.
Most recently, a passaround of an AlMar Shrike is going on and to my knowledge, it is the first time that a factory has helped sponsor a knife passaround and AlMar should be doubly commended for getting involved in this online community. While nobody gets the item in this type of passaround, the company that sponsored it should at least be able write the cost off as advertising and promotions expenses. Hopefully the reviews are good and the company sees an increase in sales. If the reviews aren't good, hopefully the constructive criticism helps them to improve their product.
There's also an interesting passaround being proposed for a Surefire E2E (already own one so i won't be participating). It's interesting because it introduces consumables into th eequation.
Stay tuned to this station to see how it all works out.
jmx