All About Pocket Knives

Okay I watch auctions way too much. Occasionally something gets bid up to a level that , to me is ridiculous. Yestday a simple trapper that had green on one side and blue on the other side. It was a 4H, Co-op and FFA knife. No other details were given by the seller to indicate that this is a one of a kind, or a small run, or anything that would explain the price?
It always troubles me because I can’t figure it out. One that Silverladdie and some others list, I know why they go high, but this on really blew my mind.
Did anyone else see this and know what the knife was and if it was unique?

I guess some one wanted it badly for their collection. A search on the bay shows a 2003 Case Mini Trapper COOP FFA 4H sold for $460.07 on June 21st of this year.

It is a single run, limited edition, SFO that changes every year: http://ourcoop.com/ourcoop08/headlines/ ... artID=3641

Thank you that explains it. Still a mystery to me how so many people knew that ahead of time to bid this thing up so much. I see stuff like this and can’t help but wonder if it would bring any thing close to that if I listed it on eBay on my site? So many times I see knives going too cheaply or too high, really depends on who the seller is. My belief in the efficient market theory gets shaken on ebay from time to time.

To get the "market value" of an item on ebay (or any auction), you need at least two bidders willing to pay that market price for your item. If there is no one to bid against them, then the item will sell for the minimum you are willing to get for it (as long as that minimum is less than or equal to the amount the buyer is willing to pay). In addition, details matter. A very rare, very old knife without the original box might represent the "market value" for that knife, however a rare, but modern knife might be expected to have the original box to get the "market value", and the missing box might cause the modern knife to be discounted. Patina on an old knife might not affect value, but patina on a newer knife might significantly lower value. The list goes on & on.

The one truism in any market place is that an item is "worth" what the *current* buyer is willing to pay. When there is competition among buyers for an item, the value of the item will rise until there is no longer multiple buyers willing to buy. When there is no one willing to buy an item, the value of the item will fall until a buyer is found. (This assumes the seller is willing to lower the price until the buyers respond.) What an ebay seller has to hope is that multiple willing buyers have found their item during the time period the item is for sale. The buyer willing to pay $400 might very well exist, but that does the seller no good unless that buyer sees your listing.

Man, I just got confused... This thread is in this forum TWICE. I posted in the other... (and now this one).

The OP posted it twice, I assume by accident (I've done it myself ). After that initial post so long as no one has posted a response, the OP can delete the thread. After a response has been posted only an admin can delete it.

Ken.

Here is an additional thread that talked about the same knife. I gave some details in this thread that helps explain.

viewtopic.php?f=2&t=50475