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The Business of Knife Making A forum dedicated to all aspects of running, managing and legal operational issues relating to the custom knife making and custom knife selling industry. |
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#1
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Is their a market for 2nd hand custom knives?
Hi, I was at the Oregon show 2 weeks ago, and I couldn't help but notice that many pre-owned knives - including from some fairly big names, like master smiths - were fetching rather low prices. The way it struck me is that they were fetching prices lower than similar knives from relative newcomers. Then, Don Fogg's auction of 3 outstanding knives also reached fairly low prices - at least, much lower than what I was expecting. What do people think? Do you think that the custom knife world has a mature and "alive" aftermarket, or not? Cheers, JD |
#2
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Joss, The answer is a simple yes and no. Yes, obviously there is a aftermarket for "some" previously owned knives. Not all previously owned custom made knives. You want proof, come and work with me for a week. You will be amazed at what collectors are looking for and what it takes to get some of these previously owned knives. Each maker who gains a certain amount noteriety, will generally do so because of their: 1) Style 2) Materials Used 3) Quality of work 4) Exceptional Price Point Or a combination of any or all of the above. At some time though their knife(s) have gained attention of the General Public. As such, there is always a demand (somewhere) for that knife. The trick is to know who whas it and who wants it. The answer "No" is also obvious. As per your example on well known makers knives bringing what you felt were "low" prices. First, look at each knife you are talking about. Do you know what they orginally sold for? If not, ask. You might be surprised. There was a time when even big name makers didn't get much for their knives. Is that knife now selling for more than it did originally? Makers and collectors work hand in hand to drive the custom knife market. Unfortunately, one or both don't hold up their end of the bargain at times. Too many makers and some collectors think only "Mono-Generational". That is to say they only market to one generation of knife buyers or collectors only buy from one generation of makers. As such these makers and collectors become capsulazied. This is where makers do not take the time to inject new designs, materials and continue to advertise to the next generation. This in turn decreases their desirablity, both in the primary and after market. This of course will drive down the prices of their knives in the aftermarket. I write about this in my book. It is important that the knife makers in your "portfolio" continue to advertise and keep their name out there. In order for both the maker and collector to benefit from 25 years of making/collecting the makers work has to be introduced to the next generation of knife collectors. Failure to do so, in most cases, will result in reduced prices in the aftermarket. Many people are now buying custom knives at a rapid pace. This of course is great for all of us, except....except for those makers who's knives are now for sale at a 30-50% discount on the internet. For years this bothered me. Now I realize that this strategy will ultimately result in a very cost efficient way for collectors to pick up some of their favorite makers work. This trend is especially true for makers who sell a large portion of their knives on the Internet. They are starting to "live and die" on the Internet. At first everyone wants their knives....directly from the maker. Then several collectors get them, but they have 4 more knives coming in. Soooooo they have to come up with some cash. Consequently, you see that Internet Star's work being sold for less than retail. Over time these Internet Star's see their orders start to diminish. As well, they start to get more cancelations. Why? They just bought the knife for 25% off, in the "for sale" forum. Joss, there is a very "alive" aftermarket, however, it is selective and doing some homework is required. |
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Kostoglotov |
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