The Myth of the Overpriced Knife

Well it's only money you can't take it with you, nobody twist your arm and makes you buy anything knife included. In fact for those that are married it's quite the opposite my wife is twisting my arm not to buy [emoji4]. I am a Woodturner I turn things and when I put my price on them if people want to pay it fine if they don't that's fine to. Where there is a problem is when people complain about it! So with knives it's up to the individual to decide. I have seen some knives that cost 200 dollars I would never buy but o. The other hand there are plenty out there for 200 or more I would gladly buy if I had the money! The sad thing is when you spend 200 bucks on a knife sharpener and buy a 20 dollar lansky that will do the same thing equally well! Did the people saleing the 200 dollar knife sharpener rip me off? No I saw it and bought it, it did what it says it will do, some people really like it, heck I like it but I also have a 20 dollar lansky turn box that gets my knife hair popping sharp, stays set up and every evening I stroke it a few times and ready for the next day! It's worth 20 bucks. But so is my 200 dollar sharpener. I use it if knives are really dull so my 20 dollar lansky was just to complete my 200 dollar kit! Back to the subject if you cannot use it don't buy it! If your use require a tough blade get your money out and buy what you believe to be a tough blade if it's 20 I want argue with you if it's 400 I want argue with you as long as you are Sastified I'm good but don't come asking me why I paid 400 because I'm not gone try and convince you mine is better. High end k Ives that are worth there money sale themselves I don't have to help them sale just put one I. Your hand and your wallet will magically open up


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Charlie Mike said:
I feel sorry for everyone who bought a production Hindered for $800+ ... Now people have trouble selling them at $350 :D
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Agreed, but sadly nobody could see the future.

Like many things, they where very hard to get and everyone wanted one....that leads to one thing.

I don't think anyone at the time knew that RHK would change the way they sell knives and flood the market.....
 
Seems to me though that its pretty tough times everywheee as far as selling knives go. Both for makers and people on the secondary market.
What with Spyderco liquidating a couple of theirs, even Busse's are a tough sale on the secondary market.
Maybe its just more the time of year.
Isn't summer always a slow season?
Or are things really starting to decline in both new and secondary sales?
 
Not a myth at all, some knife brands and models are clearly overpriced. We probably don't agree on which ones... :D
 
The timing of this thread is neat. I just recieved a Case Back Pocket knife. I saw it for sale for 39 dollars, normally 80 something and MSRP of 135 dollars. The scales aren't my first choice but doable.
I had been checking out the BackPocket for a bit but thought they were overpriced. When I saw the one I have I checked around and found the particular site is the only one selling my same exact model for so little. I decided to get it. It arrived and you know, it very well is probably worth 80 + dollars. So I got kind of a steal. I'm on the waiting list for the Beer Scout knife from GEC. I'll probably pay around 80 =90 for it. I don't think the knife is actually worth that much especially if it uses 1095, as there are a lot of budget knives that use 1095. After receiving the Back Pocket though, I expect to be pleasantly surprised by the value of the Beer Scout. I guess ultimately a knife is worth as much as people are willing to pay. Though I still see the prices of some and wonder why anyone would pay so much, if there are people willing to pay whatever price, then that's what it's worth.
 
Overpriced is relative to everyone individually. What is overpriced to you may be a bargain to me and vice versa. The real question is if the item is overpriced to enough people to not keep the maker profitable. If an item is priced at a point that won't sustain the manufacturer, then it's overpriced. If sales are strong enough to make profit (and more so the "maximum" profit) then it isn't over priced.
 
I'd say that the "if someone is willing to pay it, it's not overpriced" line is only partly true. It's only not overpriced for those individuals that make the purchase. However, one can examine the item from the standpoint of profit maximization, and if using the marginal revenue-marginal cost method then the correct price point is when marginal revenue is equal to marginal cost. A price lower than that level would be underpriced and a price higher than that would be overpriced, regardless of if it still sells units. Otherwise profits aren't being maximized either due to not asking enough for the product, or by asking too much for it.
 
as long as someone pays the posted price, the item isn't overpriced. on knives though, are you buying a work tool or an occasional tool that looks neat? if I was working prep in a restaurant, i could get a handful of old hickory knives and a good sharpening stone, have change back from a $50 and do any task required. are the knives as pretty as your Tanaka Upthewazoo, hand forged by an ancient master in a pine charcoal fire and quenching in virgin's urine, that you found on sale for $250? maybe not, but as a functional tool, they are at worst even. maybe the 2 for $5 gas station knives I have aren't as nice or as well made as your spiderco or bussee, but if its main purpose is sitting in your tackle box or car tool kit in case it ever needed, which would you buy?
scott
 
JR88FAN said:
Agreed, but sadly nobody could see the future.

Like many things, they where very hard to get and everyone wanted one....that leads to one thing.

I don't think anyone at the time knew that RHK would change the way they sell knives and flood the market.....
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oops! did I make a mistake by spending $300ish on a hinderer xm-18? could someone tell me by this time next year a nib xm-18 will be in the $200ish range?
 
sharp_edge said:
oops! did I make a mistake by spending $300ish on a hinderer xm-18? could someone tell me by this time next year a nib xm-18 will be in the $200ish range?
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My psychic hotline session told me that 2 years from now, XM clones from the Kevin John factory will be flying off the shelves at $500 while all but the most devoted fanboys have dumped their RHK collections before the price went below $200.
 
You said it great in the op.

Beauty of the free market...

If schrade started selling knives for $200+ as is, they'd be out of business...

If CRK started selling sebenzas for $100 there'd most likely be layoffs and waiting lists due to minimal employees, (he'd probably be making the all by himself, start to finish)...

There's certainly different sweet spots for different markets, maker and buyer, but the market ultimately will decide who thrives, who survives, and who dies......
 
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Sometimes the initial purchase price seems justified based on whatever - materials/aesthetics, a positive review, (obsessive/compulsive behavior:confused:) and then the dang tang comes in the mail and it's like, "I definitely overpaid for this." Buyer's remorse is pretty common.

"Possessions are usually diminished by possession." ~ Nietzsche
 
To me, the interesting part of the original post is not that someone would consider a particular too expensive but that someone would actually say something. In my experience the people who comment on such things that are none of their business do so out of jealousness not because they care how much something actually cost.
 
Is a ten thousand dollar can of caviar over priced? Doubt anyone here would say no but there's still people with disposable income high enough to afford it who will buy it. That's the league we're talking about when discussing these kinds of knives, because in the scope of how much normal knives cost from lowest to highest I doubt you can find a whole lot of people who wouldn't regard a several hundred dollars knife as a luxury item when you can get one of decent quality for 1/10th of the cost... And 50 dollars is even a lot more than most non knife enthusiasts will pay for a knife too by the way. So we're talking about a niche crowd amongst a niche crowd.

I like a certain kind of scotch that's 30 bucks a bottle. I know people who consider it a waste and buy vodka that could strip paint for 5 bucks. Then there's people who buy 300 dollar bottles of scorch and regard the type I like as well spirits...
 
Value is highly subjective. What I'll pay $300 for a knife is not always the same as what others will pay. There are plenty of knives out there that I like but feel that they are grossly overpriced. However, people are still willing to trade their firstborn for one.
 
I was given a $425 bottle of cologne that I absolutely love :) when that runs out I have permission to buy it, if finances allow since the wife loves it on me. Personally think that is WAY too much for a bottle of cologne but then I remember my wife's reaction the first time she smelled it on me and I think it's WELL worth it ;)


Meanwhile, She won't let me buy a Sebenza :( but she will let me buy one when I finish law school :D

So I guess, all things are subjective...


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The myth of the overpriced knife?

Don't kid yourself. It is not a myth. There are many knives that are overpriced.

Just compare the Ka-Bar Dozier folding knife at about twenty bucks and it's cousin the Cutco 1891 at close to one hundred clams.

Both are made by the same company. Same basic blade and both have plastic handles. You can't tell me one is worth more than the other.

And, don't try to tell me that one is worth more if someone is willing to pay the cash, either. That's a crock. The Cutco is just plain overpriced.
 
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