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Secondary Market Prices
Posted: Tue Oct 27, 2020 2:35 pm
by kootenay joe
I began collecting GEC's right from the first run of #73 in 2006. For the first number of years, maybe up until about 2015 ?, new GEC knives were easy to obtain. Dealers would receive a new run of knives and it would take a few days or a week before all were sold. With some patterns knives were still available a month or so after release.
Then, a few years ago there was a steep increase in people wanting GEC knives. To obtain a new release you needed a smart phone and instant notification to which you would reply immediately. New releases would sell out in minutes. Now that GEC has re-opened after the Covid closure, this demand seems just as strong.
There are also GEC knives available on the secondary market like ebay and some AAPK stores and from other collectors. Many of the GEC knives on the secondary market are the less popular patterns. It is less common to see the highly desirable patterns or handle materials. Regardless, asking & selling prices are high for all of them and very high for the more desirable ones. The lower end of prices is around $300 and the upper end close to $900. There are a few under $300 but these are the ones that collectors don't particularly want.
The difficulty in getting a new release and the very high secondary market prices means i am now 'out of the game'. Getting GEC knives that i like is no longer a possibility for me.
How have these high prices and fast sales of new releases affected your collecting ?
kj
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 2:48 pm
by Steve Warden
kootenay joe wrote: ↑Tue Oct 27, 2020 2:35 pm
... high prices and fast sales ... ?
kj
The very reason I don't buy GEC knives.
First, I can't afford them. Second, even if I could, they're so hard to come by.
I wish I could afford them; GEC puts out some great looking stuff. And I'm sure the quality is there, as well.
But, alas...
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 2:57 pm
by Doc B
I definitely won't be paying secondary prices. I keep playing the lottery, on releases I like...hoping to get lucky. It's getting to be more like the Powerball lottery...rather than the $2 scratch-off ticket. In other words...I'm not winning.
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 3:08 pm
by Onearmbladejunkie
"GREAT EASTERN CUTLERY KNIFE COLLECTING IS WAR !" I HATE EVIL-BAY FLIPPERS ! I SUPPORT GEC AND GEC DEALERS ONLY.
- lMrnR0J.jpg (14.71 KiB) Viewed 9439 times
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 3:12 pm
by Mumbleypeg
I remember when the same thing was happening with Beanie Babies.
Ken
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 3:20 pm
by Ripster
Well ,glad someone else sees the same thing. Roland, I won’t even try to buy anything the way GEC is doing, as with you ,my Computer skills or push of a button doesn’t seem like the way to collect, and don’t stand a chance. Maybe that’s the way of today ,or luck of the draw, but would rather buy,sell, or trade within a different kind of Collector, a little more “ old fashioned “ . It’s Great that GEC is doing well and hope they continue to make nice Cutlery ,Own a few and they’re great pieces. Just won’t spend what they want for them nowadays and will sit back and watch .
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 4:01 pm
by Doc B
I'd like to start a rally'ing cry...to suggest GEC go to a theater / movie release scenario...where all the dealers got the knives; but, couldn't drop them until a set time and date. I've heard Bill Howard doesn't really listen to anyone, regarding these type suggestions. Guess it's more like my rally'ing whimper.
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 5:10 pm
by mightyzaa3
yes, it is just a hassle anymore to get a GEC that you want. seems like so many johnny-come-lately"s have turned this into a circus.i started in 2009 buying these great knives, but with the flippers and the higher factory set prices, it is getting absurd. now some dealers have jacked the prices up on their own and one dealer was selling on ebay with bidding. and he was starting the price out at the normal retail price. and i honestly believe some dealers don't have knives on the shelf because of a buddy list. sold before they are even made. read where one dealer kind of admitted he was selling up to 12 of the same knives in a single transaction to one buyer. we know where they were going. the fun in collecting GEC is mostly gone. and now one dealer has been getting knives from a month or so ago that were sold out and claiming they cost him more, so he has to sell them for more. how can he find a dozen of a knife i wanted, that i could not find due to being sold out. now it is thirty dollars more and that kind of flim flam makes me sick. so i don't buy. there is a few dealers left that have been upstanding and still remain honest. hope they stay that way. just glad i have around 300 or so GEC's that i can enjoy. only real satisfaction is that i have a lot that they will probably never make again and with a lot handle materials they won't/don't use anymore. almost tempted to sell the bulk of them. but i refuse to sell to a flipper. problem is , they are everywhere. even here on AAPK.
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 6:09 pm
by cody6268
I think eventually, because of how things are getting, there will be a market crash with GEC, and prices will fall; simply due to the fact more and more are getting fed up with most runs being bought up by scalpers. It's an issue known all to well to diecast and action figure collectors.
I simply don't like how they do it. They only produce ultra-limited runs, and don't have rules as to when they should be available for sale, or maximum purchase limits. It's all up to the end retailers. Case, Buck, Utica, Bear all produce LEs/SFOs, but they have perennial bread-and-butter lines that are not limited production, and easy to get. I wish GEC did this, with say, the Farm and Field Tool line. I had saved up for a few months to get the Calf Pen, which as a user, suited my needs best. They'd been on sale when I started saving for $80-90, and now they're $130-40. Same with the others on my list, the Bull Pen and Bull Buster "Sodbusters".
I like old knives, and decided I might as well stick with them.
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 7:11 pm
by Beavertail
Re: Secondary Market Prices
Posted: Tue Oct 27, 2020 11:14 pm
by kootenay joe
To be clear, i am not complaining about the original price for a GEC knife. I want the business to make a profit and pay their employees well. And i'm not complaining of the relatively small runs (relative to Case or Buck). It allows for control over the quality of workmanship so that every knife comes out 'just right'. This is why we like them so much. I think Bill Howard is doing a very good job as Captain of the GEC ship.
I don't think there is any way around the current situation of selling out in minutes and secondary market high prices. Time likely will bring changes. I think many of the current GEC buyers were not knife collectors before GEC came along. They are specific GEC collectors, rather than knife collectors. And part of the attraction is in the competition to 'score', gives a rush when successful. I think some people want to 'win the competition' more than they want the knife. If this is the case then with time these buyers will drift off to other online pursuits.
For those who want to pare down their GEC collection now seems to be a good time to sell.
kj
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 3:05 pm
by kootenay joe
Mumbleypeg wrote: ↑Tue Oct 27, 2020 3:12 pm
I remember when the same thing was happening with Beanie Babies.
Ken
Just as with doll collecting, the knife collecting world goes through 'fads', times when many collectors are all looking for the same brand or pattern. Then after a few years the fad moves to a different brand or pattern.
Will this happen with GEC knives ? Or will GEC knives be like Case knives, always collectible with a strong following ?
I think GEC knives will be like Case knives rather than like Beanie Babies. They are so well made and so attractive that anyone who likes knives will like GEC, now and in the future.
That said i would like to see the current high demand cool a little. Today's high secondary market prices means many of us GEC fans can no longer play.
kj
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 3:31 pm
by Doc B
I believe knife interest is on the upswing and I believe traditional knives are benefitting. Those that take an interest in tactical knives seem to advance to nicer and more expensive tacticals. I think people who spend $100-300 on a knife, for the first time, have done a fair amount of reading and researching before making a purchase. I believe that leads them to the forums...where they are exposed to more and more nice traditional knives. That's sort of my 4 year journey through knife madness. In the short time I've been involved...it seems prices on nice traditional (old and new) have really taken off.
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 4:37 pm
by espn77
I've never seen or held a GEC knife but I think there marketing strategy will help keep them successful. High quality with small runs of a pattern. Price may pull back a little but then more people will jump in and they will go back up. I think it's great what they are doing.
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 8:18 pm
by edge213
espn77 wrote: ↑Wed Oct 28, 2020 4:37 pm
I've never seen or held a GEC knife but I think there marketing strategy will help keep them successful. High quality with small runs of a pattern. Price may pull back a little but then more people will jump in and they will go back up. I think it's great what they are doing.
Seriously. You've never seen or held a GEC??
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 8:19 pm
by espn77
No sir.
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 8:51 pm
by edge213
espn77 wrote: ↑Wed Oct 28, 2020 8:19 pmNo sir.
Just curious.
Do you just not have interest in them or are they scarce in your area?
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 9:05 pm
by Colonel26
I have a total of ONE GEC, and it is the only GEC I have ever seen in person. I got it from a friend who didn’t like it. It’s a great knife imo. Is it worth what it cost new?
Probably to some, not to me. Is it worth what it would cost on the secondary market? Nope, not in my book. But to each their own.
I refuse to play the game, even if I could afford to, the whole system just isn’t my thing, more power to those who do enjoy them. I suspect in a few years the GEC knives that have been used will start showing up for sale at a discounted rate. Then I might pick one up as a user. Until then there are way too many great old knives out there to distract me.
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 9:26 pm
by cudgee
Colonel26 wrote: ↑Wed Oct 28, 2020 9:05 pm
I have a total of ONE GEC, and it is the only GEC I have ever seen in person. I got it from a friend who didn’t like it. It’s a great knife imo. Is it worth what it cost new?
Probably to some, not to me. Is it worth what it would cost on the secondary market? Nope, not in my book. But to each their own.
I refuse to play the game, even if I could afford to, the whole system just isn’t my thing, more power to those who do enjoy them. I suspect in a few years the GEC knives that have been used will start showing up for sale at a discounted rate. Then I might pick one up as a user. Until then there are way too many great old knives out there to distract me.
Some good points there my friend. It all comes down to supply and demand, i know it is boring but that is how it is and has always been. If you take away the demand for anything prices will adjust accordingly. You see GEC's hit the secondary market with mark ups of up to 150%, with most at 100%. Not for me nor you my friend, but people are prepared to pay these prices. And i can give you a good and recent example of your last point, i recently saw an Oily Bone #93 Ramsfoot go for $85 on another exchange, a lot less that what it would have commanded new just over 12 months ago, it was used naturally, but in good condition.
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 9:44 pm
by espn77
edge213 wrote: ↑Wed Oct 28, 2020 8:51 pm
espn77 wrote: ↑Wed Oct 28, 2020 8:19 pmNo sir.
Just curious.
Do you just not have interest in them or are they scarce in your area?
For me, my brain can't comprehend collecting something new, I have some knives that are in pretty rough shape but it's the only example I've been able to come across for a knife that was made 80-100 years ago. In my area the majority of knives sold at the feed store will be case, Moore maker's, schrade. I just like old stuff. I've probably seen them on tables at gun shows but my eyes didn't stop to look at them because they weren't old. I do have a question. Do they make a stockman type knife or only jack knives?
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 10:04 pm
by Doc B
espn77 wrote: ↑Wed Oct 28, 2020 9:44 pm
edge213 wrote: ↑Wed Oct 28, 2020 8:51 pm
espn77 wrote: ↑Wed Oct 28, 2020 8:19 pmNo sir.
Just curious.
Do you just not have interest in them or are they scarce in your area?
For me, my brain can't comprehend collecting something new, I have some knives that are in pretty rough shape but it's the only example I've been able to come across for a knife that was made 80-100 years ago. In my area the majority of knives sold at the feed store will be case, Moore maker's, schrade. I just like old stuff. I've probably seen them on tables at gun shows but my eyes didn't stop to look at them because they weren't old. I do have a question. Do they make a stockman type knife or only jack knives?
Here's a couple 3 blades for you...
82 Dixie Stockman
- 82 Dixie Stockman.jpg (19.35 KiB) Viewed 8946 times
29 Stockyard Whittler
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 10:20 pm
by espn77
Wow. Those are really nice
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 10:31 pm
by cudgee
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 10:37 pm
by espn77
What do those bring, on Ebay for example?
Re: Secondary Market Prices
Posted: Wed Oct 28, 2020 10:41 pm
by cudgee
espn77 wrote: ↑Wed Oct 28, 2020 10:37 pm
What do those bring, on Ebay for example?
Normally $200 + , i have seen some of those go for up to $300 + on another forum, depends on condition and having the tube.
