All About Pocket Knives

Owning a store, I am in the business of buying and selling things. We sell many knives, the most popular being the tactical knives like Boker, S&W, Kershaw, and cheap tac knives like Mtech. We also sell a fair amount of bayontets, survival knives and the like.

My question is this.

If someone walks up to you and offers to sell you a knife for $100.00. You look it over and realize that what you are looking at probably has a value of three or four times that. The seller obviously knows they have something rare, but has no idea what the real value is.

My question is this, are you taking advantage him by not revealing what you know or are you merely giving him a fair price by paying what he is asking for the knife.

I am in the business to make money to pay my bills, and somehow come out ahead at the end of the day, but I am always wrestling with this idea from a moral standpoint.

Your thoughts are much appreciated.

if you question your actions on a moral point, i think you have your answer. morality and ethics seem to only be a problem when you have doubts about your decisions. everybody wants a bargain, but at what cost?

we can't justify our morality by other peoples standards.

For what it is worth............I actually had a similar situation.

I informed the seller that the asking price was too low and she said she appreciated my honesty and still offered the knife at her original asking price. She wasn't in to collecting knives.

My conscience and pocketbook were both relieved.
Nifenut

("If someone walks up to you and offers to sell you a knife for $100.00.")

You can be very fair and tell him if he or she finds the right person that wants that knife it might bring $300.oo to $400.00, but you do not know where he is. (It's your job to find the buyer if you own it.) Thats why you buy some knives to help others get want they want. It's my job. I would be very please to give you the money you asked for ($100.00)or would you like to buy something I have here now ? Try to make a SALE each time the door opens .It's your job to please the custmer. Remember it's your business to help the seller and buyer be happy with the deal. Then you will make a buck and sleep at night too. IMO

I think you would only be taking advantage of him if you tried to get it for less..... Your giving him what he asked,what else can you do? ::blah::

I've run into this myself.

If you are buying for yourself try to make the best fair deal you can. The seller sometimes does not appreciate your honesty simply because they want to sell you their knife for $100.00 so they can buy a part for their car. If you say you can't buy it from them for $100.00 because it's worth $300.00 or more they may think you're making excuses not to buy their knife and help them out. You can mention you think it's worth more, but you'll buy it for $100.00 if that's their price then everyone's happy.

In business you can not afford to buy high and sell higher. There are lots of people out there who will buy a price guide and think they have to have that price for what they are selling. The thing is, if they're selling to a business then they have to accept what you're going to offer so you can pay your bills and offer your services. They can always sell it to someone else and hope they get book price. (Have you tried to sell a used car lately?)

Look at the many people who go to pawn shops for a few pennies on the dollar of exchange so they get the money they need for whatever reason.

You have told us that this person may not know the true value of his knife, but he doesn't have the advantages of exposure, advertising, networking and respectability that you've built up, and even on eBay he probably wouldn't get the 3 to 4 times his price.

I think that as long as you tell a person it could be worth more and he will still accept the $100.00 he's asking, you're in the clear. Don't sweat making money if that's what you're supposed to be doing. If you have any employees, or a family, I'm sure they'll appreciate it.

P.S. If the same person comes in later looking to buy something you have for sale maybe you can give them a break and just even things out a little.

I have to come down on johnnierottens' side on this one, the seller came to you with a price, you didnt go up to them and try to brow beat them into a price that you knew was 1/4 the value. On the other hand you cant in good faith, knowing what you know about the knife tell them that $75.00 is all you will pay, I would think you have to pay the asking price.

Hello;
A thread similar to this came up some time ago, it was I think a lawnmower for a 20-25thousand dollar fixed blade. Not from a businessman either it was a neighbor.
Yours is a different situation, as a shop owner, how much sweat equity
and money have you invested into gaining the ability to know the true value of the knife. If you are a certified appraiser you would be bound I think to offer the seller an appraisal at the going rate. If declined then by all means buy the knife, you are putting food on the table your not stealing to feed a habit. Its only my opinion.
wb

I believe that the seller had an asking price and thats that !.If they had come to you for an appraisal then you would have to act differently.I would charge for an appraisal and then either buy the item or not.But as I have been on BOTH sides of that deal then it is up to the seller to have some idea of its worth.I am sure you have heard about the garage sale paintings that were worth MILLIONS,dont you think the buyer had some idea of its worth.Was it his responsibility to tell the seller that it was worth more.And by the same logic,if a buyer came into your store and saw an item worth tenfold what you were asking,is he responsible to tell you or buy it and run ?.If you sold an item for millions that you paid a dollar for,you can always find the seller and give him more !.

The seller came with an asking price so that's it. This is a far different situation than the previously discussed Moran where the owner had no idea of what he had where a neighbor wanted to buy it for a song.
This is where a businessman is asked to purchase a knife. Since the seller is making the offer, a good businessman will buy it. If it were me, I would buy it. If I did not purchase and sell items for a profit; I would soon be out of business.
The other situation we discussed some time ago is where a new neighbor had moved into the neighborhood. He did not know that the knife he had was a $20,000 Moran, but his new neighbor did and coveted it badly. We pretty much agreed that there was an obligation to tell the new neighbor what it was and what it was worth.