I guess it would depend on how pristine you want it to look.
Last year, I worked with my Cub scout webelos on whittling chip, and when they had finished it, I presented them each a cub scout pocket knife, you know the blue handled ones. Now, Dale, these things were far from mint. In fact, they were well used, but not abused. The handles were intact, and the blades were at least 95-99% full. I cleaned, polished, oiled, and sharpened them. I made it clear that these were a gift from me, and to look at them as a knife that was 'used' by some cub scout before them.
I didn't pay loads of money for them, and if the boys lost them or didn't take good care of them, I would not feel that bad. My son was one of those scouts, BTW. It was also a lesson that you don't have to get something brand new and shiny for it to be good quality, and that sometimes the older stuff is better quality.
I have several of those Ulsters that I think you are talking about, that I also got off ebay. My advice is, they go pretty cheap most of the time, so buy a few of them. They do clean up pretty good, but pay attention to the handles. They are the one thing that can't really be 'cleaned up'. ALso, the etches are almost always gone on these.
If you can't find a good one, let me know. I might have one that would work for you.
Glenn