This happens all the time at auctions. Either people get caught up in the bidding or they just want to avoid waiting for the knife, or they have the money and don't know any better. No one says anything when auctions don't get up as high as maker's price and the seller didn't set a reserve. If someone is happy with the knife at the price they paid, that's what matters. I routinely see fixed blades by 2 South African makers(Theuns Prinsloo and Arno Bernard) sell for $150-$250 on ebay. Last Nov. I was talking to Theuns at the NY Custom show and the same knives were on his table for $90.A guy walked up, asked if he could take $75, he pulled out his calculator(figuring exchange rate), and said yes. But, if the folks buying at ebay like the knife and are happy, it doesn't matter. Don't forget, most people aren't like us, they might buy 1 or 2 knives to use for a lifetime.
Quick story which parallels Les's about dealer's costs,travel,etc. About 1985or86, at the NY show, I was about to buy my very first handmade. I had alot of productions but no customs. The knife was on Paul Basch's table and I kept looking at it, going outside to think, looking at it, going outside,etc. I was really working up a sweat. It was $175, which at the time was alot of money to me, especially with 2 small kids at home. I stopped at Bruce Voyle's table, started talking to him, and asked him if the prices for handmade's were justified. He just said, well figure out the cost of materials, cost of his shop and tools, electricity,money to advertise, and how long it takes him to make a knife, and you'll see he doesn't make very much of an hourly wage. It made sense, bought the knife , and haven't looked back.
BTW-it was a stag folder with filework by Vernon Hicks(now deceased) and I still have it.
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Dave (Phil.4:13)
I Can Do All Things Through Him Who Strengthens Me
Lifter at work:
www.profitness.com/Profiles/profileDaveAbramson