I agree that custom and production knives can be equally desirable, but usually different people collect things for different reasons.
Some folks collect antique production pocketknives and are willing to pay large sums of money for items with rusting and broken blades.
Others, like me, seem to get fixated on custom knives for various reasons. BTW, I use 'custom' in the same sense that the KnifeMakers Guild defines the word: a knife made by one person for a customer (the customer may be the knifemaker himself). I am a fixed blade fan, but other people prefer folders. Some like tactical folders, some like bowies, some like hunters, some like really fancy gents folders. Some people like them All.
I collect knives from the perspective of art and craftsmanship; customs contain the heart, mind, and soul of the artist. So I like custom knives. But I know folks who get the same thrill from finding what looks to me like an old beat up pocketknife. Go figure
Some folks like older production pieces for their history and relative rarity. And some folks like modern production pieces because they are cheaper and new. But often, after collecting a lot of production knives, they find they could have spent the same money on fewer, but nicer 'custom' knives. So they start to sell their production pieces and switch to customs.
There is room for almost any type of knife collector in the knife world. I don't think you can break it down into the Custom vs. Production categories. It is more complex than that. In any case, remember that knives are Not good investments. Buy what You like and you will not be unhappy.
Then again, some people seem to enjoy buying, selling, and trading knives on a frequent basis. They might be production, or custom knives. I can't figure out the Why of this buy/sell/trade thing, but there are Lots of folks hanging out 'round these parts' that do...
Paracelsus
[This message has been edited by Paracelsus (edited 04-09-2001).]