Tip dinged, chips on the edge, use scratches, bad sharpening scratches, no sheath, multiple dings on pommel.
While I like Westerns, and the ones made in Boulder were solid, dependable knives and their heat -treatment on 440 (A and C) were excellent, under no circumstances that I can envision would a B&T from anyone be worth that kind of money, except maybe if the pommel and guard were made of 24K gold when the prices were WAY up there, with gold rivets in a sheath that is not even present.