GEC Re-Sale Prices

GEC specializes in highly collectable and premium quality usable pocket knives. The company's USA manufactured knives have quickly proven to be a big hit with both collectors and users who seek quality American craftsmanship.
kootenay joe
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GEC Re-Sale Prices

Post by kootenay joe » Tue Aug 13, 2019 12:56 am

What GEC allows dealers to charge is very reasonable. For $80 to about $140 you get a great knife. There is more demand for them than knives made, so new releases are often sold out in minutes. GEC knives on the secondary market get prices often double or even triple the original price.
Certain patterns are in higher demand and any pattern with stag or mammoth or giraffe bone is also in high demand.
Prices are still climbing. For many of these knives what seemed to be a high price 12 months ago, now seems like a reasonably good deal.
What i am interested to learn is how much more 'upside' do you see ?
Steady increase with no foreseeable down turn ? Or, within the next couple of years numerous GEC collectors getting 'saturated' and moving on to other interests with resulting decline in prices ?
Are the current prices still a buying opportunity ? Or, better to hold off and see what the next year or so brings ?
What do you think ?
kj

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Re: GEC Re-Sale Prices

Post by Doc B » Tue Aug 13, 2019 1:09 am

Funny how some take off...and some don't. I thought the rotten banana was pretty ugly and the beer scout, not very impressive. Those have gone crazy on pricing, if you can find them. There are still a lot of 06, 12's and 97's to be found. If I was good at the stock market...I could have retired a long time ago.
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Re: GEC Re-Sale Prices

Post by cudgee » Tue Aug 13, 2019 2:02 am

kootenay joe wrote:What GEC allows dealers to charge is very reasonable. For $80 to about $140 you get a great knife. There is more demand for them than knives made, so new releases are often sold out in minutes. GEC knives on the secondary market get prices often double or even triple the original price.
Certain patterns are in higher demand and any pattern with stag or mammoth or giraffe bone is also in high demand.
Prices are still climbing. For many of these knives what seemed to be a high price 12 months ago, now seems like a reasonably good deal.
What i am interested to learn is how much more 'upside' do you see ?
Steady increase with no foreseeable down turn ? Or, within the next couple of years numerous GEC collectors getting 'saturated' and moving on to other interests with resulting decline in prices ?
Are the current prices still a buying opportunity ? Or, better to hold off and see what the next year or so brings ?
What do you think ?
kj
I cannot answer that my friend. But one thing never changes supply and demand, and everything has a price point. A lot of purchases are impulse buys, especially when people get swept up in the immediate buying frenzy, but when things settle down, and they usually do, the market normally comes back. I am on a pension and have stayed out of all the hype and frenzy, just cannot afford the secondary prices, but i am also prepared to wait and see what happens to these prices and if they come back, may purchase, if not so be it. But i cannot answer your question, but i like your thinking, and want to hear everyone's opinion on a very interesting topic. ::hmm::

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Re: GEC Re-Sale Prices

Post by Sharpnshinyknives » Tue Aug 13, 2019 11:39 am

KJ, I think the prices right now reflect a strong economy, on the resale that is. Should we enter a recession you will see prices fall back a good bit. So for me buying on the secondary market is not something I’m keen to do. I do buy some this way, but only up to a point and no further. I think that patience will reward those who wait. All these things are cyclical and right now the cycle is swinging up, it’s the fool that forgets that it doesn’t stay this way forever and buys high with the idea of selling higher.
I think you have to do some homework and know what is a fair price to pay for a knife before bidding up to the rafters and hoping you didn’t pay too much.
So my prediction is that the prices will continue at this level until there are strong signs of a slowing economy: layoffs, stock market correction, a bubble bursts in some asset like housing, pension crisis or legislative changes and elections. Then you will see knives that were bid up to double or triple and more no longer commanding these prices.
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Re: GEC Re-Sale Prices

Post by tongueriver » Tue Aug 13, 2019 5:25 pm

Sharpnshinyknives wrote:KJ, I think the prices right now reflect a strong economy, on the resale that is. Should we enter a recession you will see prices fall back a good bit. So for me buying on the secondary market is not something I’m keen to do. I do buy some this way, but only up to a point and no further. I think that patience will reward those who wait. All these things are cyclical and right now the cycle is swinging up, it’s the fool that forgets that it doesn’t stay this way forever and buys high with the idea of selling higher.
I think you have to do some homework and know what is a fair price to pay for a knife before bidding up to the rafters and hoping you didn’t pay too much.
So my prediction is that the prices will continue at this level until there are strong signs of a slowing economy: layoffs, stock market correction, a bubble bursts in some asset like housing, pension crisis or legislative changes and elections. Then you will see knives that were bid up to double or triple and more no longer commanding these prices.
Well said. Gravity always wins, in the end; it is just a question of "when." And I don't know when. There are signs of major nervousness in the stock market now which I think will continue until at least past the next presidential election. At any rate, I have PLENTY of places to put major knife money besides GEC. Speaking of which, I would suggest that anyone interested in GECs should contact DWEB (username) Doug Webber, who needs to raise money for 'end-of-life' expenses. He is an honorable and reasonable man and he has some GECs.

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Re: GEC Re-Sale Prices

Post by kootenay joe » Tue Aug 13, 2019 7:26 pm

I think many of the GEC buyers were not knife collectors before GEC came along in late 2006. It was about 2015 ? when GEC new releases became harder to get and secondary market prices began climbing.
Will these dedicated GEC collectors loose interest ? We know those of us who are besotted knife collectors (as opposed to GEC collectors) will remain interested in knives until we assume room temperature.
Rather than see the overall economy as affecting GEC prices, i think some of those who have become interested in knives because of GEC and are strictly GEC collectors, might have a waning of interest before too long. And once the number of buyers decreases, prices will follow.
Even if my thinking is correct, the timing is unknowable. Interest might begin to wane in the next year, or maybe not until another 5 years or more go by.
I have seen a nice mammoth #36 sell for close to $900, and stag #46 for $1200. Hard for me to believe these prices can go even higher.
kj

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Re: GEC Re-Sale Prices

Post by Montanaman » Tue Aug 13, 2019 10:35 pm

kootenay joe wrote: I have seen a nice mammoth #36 sell for close to $900, and stag #46 for $1200. Hard for me to believe these prices can go even higher.
kj
That's absurd, Bill Ruple will build you one for that. GEC is not special in any way to me, but each their own. 3FingerMac seems to really jack up the price around here. Joel Chamblin and Rick Menefee built me a single blade in mammoth ivory for less than 600$.
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Re: GEC Re-Sale Prices

Post by kootenay joe » Wed Aug 14, 2019 3:24 pm

Prices for any collectibles have little to do with the quality of the item. GEC collecting has become a competitive 'sport' and the way to win is to pay more than anyone else. It is less about the knives and more about beating the competition.
Market value for many vintage knives is already established. Say you are a Case collector and a certain knife has a generally accepted value of $500 but the seller of this knife wants $1,000. Most collectors will pass on it and wait for another example of this knife.
GEC values are not yet established so buyers can convince themselves that the high price today might become market value in a year or so. But i think many GEC buyers don't care that much about price. They just want to be the winner.
Knife collecting in years past was not a competitive activity. It was more about being supportive of each other to get the knives they wanted.
GEC seems to be a separate group from all other collectible knives in that no other brand has ever had such intense competition.
kj

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Re: GEC Re-Sale Prices

Post by kamagong » Fri Aug 16, 2019 7:53 pm

I don't give much thought to the re-sale market. I'm a user and accumulator, I have no interest in collecting GECs. That means that it's strictly retail for me, I won't pay collectible prices for a using knife.

I am fascinated by the GEC phenomenon though. The prices some of their knives command just boggle the mind. They've outstripped the Case/Bose annual collaborations which have improved steel, more beautiful designs, and a higher level of craftsmanship. As noted earlier in the thread, you can buy full customs for that kind of money! ::shrug::

If you're going to play in the secondary arena, keep this old piece of advice in mind. "Buy low. Sell high."

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Re: GEC Re-Sale Prices

Post by kootenay joe » Sat Aug 17, 2019 2:59 pm

Looking at ebay GEC listings this week shows if you want one of the more desirable knives (e.g. nice stag handle) price will be over $300 and as much as $600 (or more for a #36 or 46). Even the rather 'ho-hum' GEC's, like those with Micarta handles are mostly selling around $200 or more.
If you are a GEC collector and you want to add one of the 'really nice' GEC's you will have to pay at least 3x the original price.
Even if 90% of GEC collectors are holding off because of these prices, the remaining 10% are still enough to buy all of the very high priced 'really nice' ones. Only takes 1 person for each knife, and as long as sellers continue to sell, these prices will not go down.
I find this interesting because in over 50 years of knife collecting i have never seen anything sell like the GEC's. Closest would be the Case/Bose Collabs, but they would take a week or more to sell out and on the secondary market most sell at a little below the original price.
kj

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Re: GEC Re-Sale Prices

Post by WillyCamaro » Sun Aug 18, 2019 12:00 am

I wonder how much our AAPK special editions will be worth one day?
I decided to purchase 1 for my permanent collection. First GEC too.
About the only GEC on average that sells the same or even less is the #06 pemberton. And I can't figure it out. And I think it's an incredible small knife.
People can sure be funny. Also Schatt & Morgans are starting to bring a lot more money now on the bay. And there are still quite a few around to be had. Can't understand it. ::hmm::
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Re: GEC Re-Sale Prices

Post by kootenay joe » Sun Aug 18, 2019 11:35 pm

Here is a #85 made last year (2018) that just sold for $430. Very nice Maple burl handle but worth 3.5x original price after 1 year ?
kj
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Re: GEC Re-Sale Prices

Post by robbobus » Tue Aug 20, 2019 1:04 am

I don't pretend to be a prognosticator, but last summer a gent was looking to buy a maple 85. I offered him mine for ~$300, they were bringing 330-350 on Ebayat the time. He was offended I wouldn't sell at cost. I said it was a good deal and would rise in value over what I was asking, i think that maple will top 5 bills by years end.

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Re: GEC Re-Sale Prices

Post by robbobus » Tue Aug 20, 2019 1:09 am

On a true auction, the value is not set by the seller, or the buyer. It is set by the 2nd place bidder. They were willing to go $425.

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Re: GEC Re-Sale Prices

Post by Tsar Bomba » Tue Aug 20, 2019 1:34 am

Seems like the EO 85s are among those patterns that fetch an instant and substantial premium on the secondary market.

Figure out which ones do not appreciate and it makes it easier to choose users out of the new GEC releases. The 06 and 43 patterns yielded a lot of users and not many keepers, unlike the 14s, 46s and 77s of recent vintage.

I think the 29 will start out overpriced on the secondary market but in time prices will come down for the non-SFOs.
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