Wow - did I get steamrolled ....

[Lansky1]

I've always wanted a GEC looking glass abalone gepetto whittler (#57). It's an amazing process of how they form the sides (a video about it on youtube). They only made 25 of them in 2011 I think, so I figured it would go high, didn't know how high it would take due to the low production & fact I've never seen one anywhere, so I had no gauge.

So, it sat at $149 for just 1 hour shy of a week. I've never spent what I consider a lot of money on a knife, but I was prepared this time. I was all set to clench the buttcheeks and go up to $300 if need be. Well, the last half hour of the auction it went from $149 to $420 !!

I felt like I was the newbie at a high stakes craps table in Vegas - got absolutely rolled. Apparently, I was completely out of my league - never saw it coming ...

[SteelMyHeart85420]

Hard to compete with deep pockets, when those pockets want the same thing you do. BLNT

[Lansky1]

Hard to compete with deep pockets, when those pockets want the same thing you do. BLNT

Yep - lesson learned. If I'm not willing to run with the big dogs, stay on the porch... guess I just didn't want it bad enough

[Dinadan]

I was looking at that same knife, John. Out of my price range for sure!

[RalphAlsip]

I recently started watching listings for knives like this one (premium brand and released infrequently in limited quantities). My perception is that these types of knives are selling in secondary markets for a decent return over the manufacturer price. This would be good news for the buy and hold collector who purchased at MSRP. It also seems to encourage speculators. Refer to Northwoods Esky Zulu as a recent example.

Lanky, this is a temporary setback. The next time GEC releases an abalone gepetto whittler you'll remember to "buy now".

[stagman]

That is too bad John...stepping up your game thinking you was ok and BAM !!!
I had a similar deal several yrs ago and went 477.00 on a big stag bowie antique
that was connected to Buffalo Bill's wild west show..
knife was setting at 135.00 when I bid, for a second it said I had it, till 3 seconds later
it popped up fot 760.00...
You never forget it John, sad but true


Will

[jerryd6818]

And then there's the other end of the story. I was collecting the Family Tree Doctor Knives and needed the Christmas Tree to complete the set of Celluloid (???) handled ones. One came up on eBay and I decided I would make sure I got it by bidding $120. The bids were down in the $60 range so I felt I might get it in that area. Imagine my surprise when the auction ended and I got it alright. For $120. Didn't come close to getting my money back out of them when I sold the set of six knives for (I think) $300.

[Lansky1]

That is too bad John...stepping up your game thinking you was ok and BAM !!!
I had a similar deal several yrs ago and went 477.00 on a big stag bowie antique
that was connected to Buffalo Bill's wild west show..
knife was setting at 135.00 when I bid, for a second it said I had it, till 3 seconds later
it popped up fot 760.00...
You never forget it John, sad but true

Will

Hey Will,

Ouch - that one left a mark I bet. I guess anybody who plays around on eBay for long enough has similar war stories ...

... funny, the knives I really seem to have a sentimental attachment to are the ones I got "epic" deals on ... like the new Case wharncliffe trapper for $26; or the new equal end Case medium stockman for $24; or the new Case Carpenters split back Whittler for $44; or best of all - a new GEC Gepetto Whittler that the person didn't advertise well with bad pictures that I managed to snipe in at the end for $75 - there's more of a story associated with those, rather than doubling down & just paying top dollar. I guess I'm an eBay bottomfeeder at heart ...

[kootenay joe]

There is a 'feeding frenzy' for almost every GEC made knife both when first released and on the Secondary market. A new Northwoods Fremont Jack was released yesterday at 1800 hrs EST. There were a few hundred knives and every one of them sold; within minutes !
On ebay people are bidding GEC knives up to 2-3x original price. Now is not the time to buy these knives on the secondary market. Wait.
I don't know for how long but sometime within say 6 months to 6 years prices will begin to decline and those who are now buying high will take a loss.
Part of the fun in knife collecting is getting a knife you want for a price below what it sells for on average. It is easy to get a knife. All you have to do is offer way too much money for it. This requires no skill or patience and is not much fun.
So i'm advising: wait and we can have our fun when the GEC prices on the secondary market return to original prices +/- a little bit.
kj

[Lansky1]

There is a 'feeding frenzy' for almost every GEC made knife both when first released and on the Secondary market. A new Northwoods Fremont Jack was released yesterday at 1800 hrs EST. There were a few hundred knives and every one of them sold; within minutes !
On ebay people are bidding GEC knives up to 2-3x original price. Now is not the time to buy these knives on the secondary market. Wait.
I don't know for how long but sometime within say 6 months to 6 years prices will begin to decline and those who are now buying high will take a loss.
Part of the fun in knife collecting is getting a knife you want for a price below what it sells for on average. It is easy to get a knife. All you have to do is offer way too much money for it. This requires no skill or patience and is not much fun.
So i'm advising: wait and we can have our fun when the GEC prices on the secondary market return to original prices +/- a little bit.
kj

Good advice KJ ... amazing how that new Northwoods jack pattern sold out within minutes. Seems like the premium knife market is doing well ... but you're right, it's all about patience.

[deo-pa]

All of these stories make me glad my heart is in old knives. Yes, I can still get steamrolled and sometimes fads come and go, but but at least the market is more or less predictable in the $50 - $100 range I usually buy in. (Although the deep pocket guys can sometimes sure make me realize the value of a knife is completely in the eye of the beholder.)

Dennis

[kootenay joe]

With regards to current GEC production, there are people who quickly snag a bunch of them for the sole purpose of re-selling at a big mark up, sometimes double the original price. It's legal, but i see it as unethical and greedy. If this was not happening then fewer of us would get skunked at the original release. The only way to prevent this practice is to not buy at highly inflated prices from the flippers.
I'm not saying don't buy at all, but to set for yourself what you think is a reasonable mark up. For me this would be no more than 25%. I think many of the flippers would move on to other areas if they could not reliably make about a 50% profit. It's a fair bit of work to post pictures, answer emails, and pack up and ship.
But none of this relates to the OP knife which is a rather unusual one that appealed to enough people to drive the price up.
kj

[RandyFew]

That's crazy, at least from my perspective. I've got a few stag NIB Great Easterns that I've listed on here at a loss with no interest. Maybe it's karma. I bought them because I liked them.

[jerryd6818]

Hey Randy. Long time, no see. I hope everything is well with you and yours.

[RandyFew]

Hey Jerry, I pop in from time to time. I need to get back on it. I've been doing a lot of shooting lately and the health has been a tad sketchy. Good to hear from an old Jarhead.

[jerryd6818]

Well, stop by when you can. Always good to "see" you.

[keithw]

KJ,
I think you're exactly correct.
I was buying 2-3 GECs a year, but over the last couple of years, they go for way too much for me.
Heck, it hurts me to pay the initial offering prices for them.
It takes away from my enjoyment of a knife if I figure I paid too much for it.

[kootenay joe]

Keith, GEC & Bark River both sell their knives at a moderately expensive price. But i do not think we are paying "too much" because the employees need to be paid a decent wage and maybe they get a good benefit program as well.
It would be "too much" if the workers were getting minimum wage and owners were hording all profits for themselves.
kj

[Lansky1]

KJ,
I think you're exactly correct.
I was buying 2-3 GECs a year, but over the last couple of years, they go for way too much for me.
Heck, it hurts me to pay the initial offering prices for them.
It takes away from my enjoyment of a knife if I figure I paid too much for it.

I'm with you ... my most beloved knives are the ones I got the best deals on - they just hold a sentimental place above the others for some reason. I guess I'm just an eBay bottomfeeder & love nothing more than to get a steal of a deal ....

[Jspurlock93]

KJ,
I think you're exactly correct.
I was buying 2-3 GECs a year, but over the last couple of years, they go for way too much for me.
Heck, it hurts me to pay the initial offering prices for them.
It takes away from my enjoyment of a knife if I figure I paid too much for it.

I'm with you ... my most beloved knives are the ones I got the best deals on - they just hold a sentimental place above the others for some reason. I guess I'm just an eBay bottomfeeder & love nothing more than to get a steal of a deal ....

I'm gonna have to differ with you fellas on this one. I take pride in using things made in America, especially GEC knives. I don't mind paying a little more for their craftsmanship, because I know there were many American hands placed on the knife in the factory and not so many machines. As for Bark River knives, I don't know much about them. I have seen their knives for sale on kniveshipfree.com and have admired them. I don't buy fixed blades too often and when I do it's usually an in person, impulse transaction...

[kootenay joe]

What is a "Jarhead" ? (in post on previous page)

Regarding Bark River knives: these are some of the best fixed blades anywhere including Fallkniven & Hiro and better than many full customs.
They are to fixed blades what GEC is to folding knives, likely the best ever made in USA
kj

[jerryd6818]

What is a "Jarhead" ? (in post on previous page)

kj

A sometimes derogatory, sometimes affectionate, sometimes comradery name for a United States Marine.

[Quick Steel]

In the actual presence of a marine, it is best that it be affectionate.

[jerryd6818]

[kootenay joe]

Thank you for the explanation.
I guess it means they always get out of a jam.
kj