If I needed to is the operable condition for me. Knives almost never wear out. Loosing is more likely.
I stopped buying knives that I felt I would never use whether it be because they cost too much (hence I shouldn't have bought it in the first place) or just for the fun of it (impulse buys still happen). So, I only buy ones I feel I might use and pretty sure I will like them. That doesn't mean I will use them however. Hence, I won't buy Ivory or Mammoth ivory any more (even though I really like both for knife handles) because I know I won't use them. I almost bought a few customs that I considered "high dollar" ($1000+ zone) and then stepped back and considered what I was doing.... throwing more money down a hole.
Added or is it Addled: I own a lot of art. I display a lot of art work in my home and I enjoy it. But I have thousands of dollars tied up in art work that I have no room to display or feel like framing. I am not going this route with knives, but I have sort of to a point. Same is true of firearms..... Fishing gear..... lots of money tied up in that too, but with fishing gear, I pretty much insist on using what I consider to be near the best based on my experience. But what about all the extra rods and reels I have in reserve....?