I agree with George. A really crummy knife can be made with the newest steel, but it won't sell because it is crummy quality. A blade with 1095 steel, one of the cheapest and simpliest steels around, can go for a decent price. Steel is very subjective. Some want stainless, some high carbon, some both, some tough steel, others like steel that will hold an edge, but will be brittle/less tough. Every person has a different steel in mind usually. 440C or ATS-34 or 154-CM are standby's that are the most popular. Then there is O-1, A-2, D-2, 1095, 5160, L6, Talonite, Stellite, each has their strength and weakeness. Also, the steel choice depends on the usage. If a person will use a knife for a fillet knife or in a wet area, a stainless blade would be appropriate or a very high polish non stainless one, or even Talonite. If someone is looking for a combat knife, it has to be tough and not be easy to break or bend, so L6 or 5160 would be a good choice as they are very tough, but will rust easily and have a lower carbon content than other steels. A2, is a high carbon steel that is tough and holds an edge very well, and is another alternative for a tough knife.
These are only a few examples. The list goes on and on and on and on, like damascus, high carbon or stainless damascus, Dendritic or CPM steels, etc. Best bet is to go with a proven steel, one stainless, one high carbon, Ie 440C and O-1, and go from there. People want different things and it may be easier in the long run to talk to the customers anf find out what they are looking for in the steel and what they will use it for. Sorry this is so long, hope it helps!!