Value of Used Knives

cziv

cziv

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Nov 24, 2005
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I'm sorry if this isn't the right area for this question. If there's a link to a thread I'd appreciate that too.

Is there a standard for value of used knives? Members on knife forums will describe a knife as a "user" "lightly used" "near mint"....etc.

Say I have a have a $125 Spyderco or BM folder and it's been sharpened, does that devalue the knife? What about if it's got some scratches on the blade as a result of sharpening or use? A tiny chip that can be sharpened out? Things of that nature.

Is this a judgement call on a case by case basis or is there some % that can easily be applied? :)
 
I think that on most, if not all production knives, its value drops as soon as you take it out of the box. It is unlikely that you will be able to sell if for the same price which you bought it. Any sharpening, scratches, use, chips and damage will further decrease the knife's value.

I use the terms "mint," "near mint,' "used," etc. in my sales ads just to let the buyers and potential buyers know what the knife has been through. I normally add as much description as I can about any wear or damage of the knife, as well as what the knife has been used for, and how often it has been sharpened. The last thing a buyer wants is to purchase a knife and not receive it in the condition that they expect.

There is no real percentage in which a knife's value decreases due to wear and things of that nature. When selling, it is really your judgment and discretion as to how much of a hit you want to take for those things.

Edit: Of course, limited edition knives and customs are a different animal. Highly sought after knives may bring in more that a person bought it for. Any wear, however, will bring the value of the knife down, even if just a little. Also, not all limited editions and customs will bring a profit. It just depends on the demand of the knife.
 
cziv said:
Is this a judgement call on a case by case basis or is there some % that can easily be applied? :)
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Terms like "Near Mint", "Lightly Used","User", etc., are in fact Judgement calls, and the buyer should always make sure he is receiving exactly what he wants / is expecting.

An honest seller on the other hand should make every effort to describe the item as best as he possibly can. I have sold one expensive knife and one expensive guitar in the last 12 months. In both cases I made the item sound / look a little worse than was the case. With the Randall knife I made sure I picked the pictures that the blade scratches really showed up in, actually making them look worse than they were. Same with the guitar. It had a nickle size dent in it. I made sure the pictures made it look horrible.

In both cases the buyers called me after the sale to tell me how extremely happy they were with their purchase from me. Unfortunatly in many cases just the opposite is what happens. Many sellers won't even take pictures of the scratches or they make sure they don't show up well.

Too bad there isn't a grading system for everything like there is with coins. MS-60 and so forth. LOL

Now as far as value. Remember an item is worth how much you pay for it, or how much someone will pay you for it. You can base your decision partly on past history and original purchase price, but things like how rare and current demand is also important. Unfortunately these are not fixed variables. High demand today could mean nothing next year! When I purchased my first Randall it was in Stock. Today I think it takes 5 years. That definitely makes a difference in todays used Randall market. If Randall catches up and has models in stock that will no doubt affect used prices.


Bill
 
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I bought a used mini-rukus and had benchmade give it all new screws and new clip and sharpen the blade, I'm keeping it but if I had the box I could pass it off as NIB EASILY. So I guess I'm going with if you have the factory sharpen it, I'd say definitely LNIB.
 
Great thread hope many read and abide by this.
Alex hit the head on the nail.

-Descriptive Details
-Pictures
-Uses/Tasks Performed
-Sharpened/Unsharpened
-Original Owner
-Box/No Box

There has been a couple times where I have received knives not fully described and were a bit under what I was expecting.

Leaving out the slightest detail can turn the seller off unfortunately.

Bought a Lg Sebenza here on BFs and the seller did not mention the knife would not be coming with the Allen Wrench, Lanyard, or Lanyard Insert. That's three items missing from the complete package so I was a bit upset at first....BUT

I didn't ask any questions.
If you are unsure or did not get enough info you have to ASK QUESTIONS!
 
Its pretty much worth what some one is going to pay for it...

Most things you do to it just bring the value down, but it all depends on the knife
 
I would concur with the above post. But would also like to see a standard knife grading system used.

Maybe a "5 STAR Grading System"

*****5 STAR= a knife mint from the factory, still sealed! Comes with all original papers, pouches, tools box, etc.

****4 STAR=a knife handled some, but never used or carried! Comes with all original papers, box, etc. Could pass as 5 stars, but not quite.

***3 STAR=a knife that has been handled some, carried, and lightly used. Shows little sign of wear. Maybe missing the box, or papers. Been sharpened.

**2 STAR=a knife with moderate use. Sharpened plenty. Carry or/and use shows plenty. Maybe some light damage, pitting, a nick in the handle or blade. User grade.

*1 STAR=a well used, well aged knife. Maybe missing parts, a screw, damaged handle or/and blade. Can still function, but needs TLC.

0 STAR= Still called a knife, but barely. Not much left, but some old steel and a lot of work.

Also, the seller/trader is still responsible for listing all the info such as a missing screw or box, broken spring, etc....

Guys, feel free to edit and add to anything here, and lets see if we can come up with a standard grading system that is easy to use.:thumbup:

Dave
 
I'd say used knives are valued on a case by case basis. Each individual may have their own method for valuing a knife, but there is no formula that everyone is supposed to follow. A company that specializes in second-hand goods might create a very precise formula, but they are likely to also have a set audience and selling environment.

Therefore, one thing to consider is the selling environment. I can expect a knife to sell for a higher price on the bladeforums exchange than if I was selling one at a yard sale. Where the knife sells can affect the overall price formula.

Then there is the individual's bias -The "my stuff is worth more than yours even if it is the same" syndrome. If someone thinks they are good at sharpening then they may not see that as a cause for a loss in value -maybe their sharpening improves the knife -like a custom full flat grinding. It is all ultimately decided on a case by case basis.
 
Only used knives that I can say that hold their values relatively well are Busse's and Busse-kin but they are quite different from regular production knife. Generally I'd say value is determed Case by case.
 
The discussion of "grading" knives along the lines of coin's comes up in Bernard Levines forum on occasion. The consensus is that outside of rough estimates for pricing books "grading" doesn't apply well to knives.


http://www.bladeforums.com/forums/showthread.php?t=748295


bernard_levine said:
Grading terms are abstractions, to be used only in price guides, never when describing actual knives.

With an actual knife, describe and show its actual condition accurately. List its actual defects. This requires knowing what the knife looked like when new: blade shape, handle appearance, blade finishes, etc. Of course if you don't know this stuff, you have no business trying to grade it in the first place.

Deceptive sellers grade knives they have for sale. This is called "blowing smoke." The crookedest sellers use a special grade: "Can be cleaned to mint."

Ignorant sellers say, "Good condition for its age." That's like saying that a particular daffodil is smart for its intelligence. Meaningless, not to mention irrelevant. Condition is condition, regardless of age. If you think otherwise, you are wrong, and now is a good chance to correct that error, before it costs you (even more) money.

To understand this, consider what makes a knife valuable: someone with money willing to pay some of that money for the knife. Most collectors with lots of money only want items in perfect condition. If it's not in perfect condition, they don't want it at all, regardless of the price or the age.

This is why gullible bargain hunters settle for "cleaned" knives, and for brand new knives marked with old names. They fool themselves that they are getting a knife that looks perfect at a discount -- looks perfect to them. Nobody in this business gets fooled without his own active cooperation. The crooks won't rob you at knife-point; rather they will leverage your own vanity.

BRL...
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A standad rating based on condition alone doesn't work very well for valuing knives IMO. It doesn't factor in rarity, collectibility, or that "coolness" factor that prompts someone to prefer a Mora over a Kabar, or a ZT over a Millie, or drop 4-5 bills on a high end folder.

I found some sellers are very accurate when it comes to the condition of a used knife; others, not so much. I have "user" knives that most people couldn't tell from a brand new one. So when someone says LNIB, I expect a virtually new knife. I have bought knives that the seller described as "like new", "excellent", and "never carried" that had rust spots and were dull as a butter knife. just because the knife wasn't totally thrashed, they figured it was still like new. I guess they consider a "user" as something with scrapped up scales and the tip snapped off. :rolleyes:

I don't think it is a dishonesty thing; I think it's more that some people have different definitions of what "like new" means. It's like when you walk into someone's house and it's filthy and smells funny. The owner thinks that's clean while my definition of clean is a bit more advanced. :D
 
The ability of a seller to accurately describe a knife does not necessary effect the price. It makes the purchase more transparent for the buyer, but it does not necessarily make the item more valuable.

For example, consider two sellers who have the exact same grading system for knives. If one seller grades their Victorinox Classic as being in "Grade C -used condition" and the other seller grades the same knife as being in same condition -It does not mean that these sellers will sell the knife for the same price.

There are too many variables. The selling environment/ personal biases/ competition/ competitive strategy -the list goes on.

EDIT to add:

Another variable that effects price (which can be seen all day long on the forum) is the reason someone is selling a knife. Some people sell used knives to pay their rent which may be past due -they need money fast and will likely have to accept a lower price. Others just put a knife up because they are bored of owning it -they don't care so much if it sells and wont mind waiting for someone to pay a higher price. The reason for selling a knife is another variable which may be more specific to the BF exchange -since we are individuals who are not necessarily looking to make a profit. We still try to lose the least amount of money that we can accept losing, and the amount we are willing to lose depends on the circumstances.
 
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