I actually went through my box o' treasures last week. I know it's not nearly as many as other guys here, but I had like 40 folders, and 16 sheath knives (this didn't include kitchen knives). I sold 5 to pay for the new buck knives/Larrin Thomas collaboration. So I was able to attain a small reduction.
Unfortunately most of my accumulation consists of simple working class blades, and the ones with any value get used pretty hard.
Plus there's a bunch that were gifted to me or are family heirlooms, so there's little hope of reducing my numbers too much further.