Well here it goes... To each there own is the saying in all hobbies and life. You have collectors and you have users, as well as people that do both. So with that being said we all know what supply and demand is... The demand is higher than the supply with Hinderers. He is not making anymore money because the demand is higher, his shop can only crank out so many knives. The more knives the more money. Makes sense. Rick doesn't make any more money because of secondary prices.
A knife is a tool that cuts things. Most of us could pass with a sharpened piece of steel that isn't fancy or cool looking. But that's what makes it fun! To have knives that appeal to you and work for you. Everyone is different...
And to say that the ZT is the same or better, that's all opinion that deals with certain factors. Like money, steel, flipper, non flipper, ect... I have owned the ZT 560 and 561, they are great knives but the XM is on a whole different level. That is my experience. The ZT's are great knives and I'm sure they will do everything you ask it too. But I prefer what Hinderer has to offer me. I've owned Curtiss, Emerson, ZT, Kershaw, CRK, Strider, Spyderco, and many others. I have just found that I like and appreciate the Hinderers most. Doesn't mean everyone else should or have too...
People buy and sell knives to try them out, make money, support the hobby, upgrade to other knives of the same maker or different maker, finances, sometimes you sell a knife that you regret selling, cause you found out that you appreciated it more experiencing others.
The same stuff goes on with regular production knives from Spyderco, ZT and so on... They get sold for more... That's part of life supply and demand.... If you want to try one out do it. If not then don't. I own and use all my XM's daily, do I need to spend that much on a knife no... But I choose too and it makes me happy. Not because it's cool or whatever you want to say about it. I research and choose carefully everything that I buy with the intent that I am going to have good customer service and not have to worry about it.
For starters, people actually pay that price to get the knife

"worth" is relative to the individual consumer, so if knives are selling for $1200 then they must be worth that much to enough people to keep makers in business.
And bpeezer says this greatly....