Leading Knife Companies Hold Gigantic Knife Auctions

Now that it appears the immediate threat to the Knife Manufacturers is well in hand, these companies’ focus is back to the business. Yes, before the recent scare about the Customs and Border Patrol redefining a switchblade, the knife makers had a more pressing problem- very sluggish knife sales.

Knife companies, like other manufacturers, are trying to balance production against sales orders. Unfortunately, knife companies are out there with a high level of knives produced before the severity of this current economic slowdown was clear.

In the past, knife companies found themselves in a similar dilemma, that is a substantial inventory on hand and insufficient demand through their normal channels to absorb it within a reasonable period of time.

Knife inventory represents precious capital.

J P King Auction Did you know cutlery history provides us examples of knife companies actually cooperating together during tough economic times to sell off their respective knife inventory?

Knife companies joined forces to hold gigantic knife auctions.

gavelA large two day auction of pocket knives and other cutlery was held on February 13 & 14, 1877.  John Russell Cutlery Company, Meriden Cutlery Company, Lamson & Goodnow, Frary & Clark, Beaver Falls and Chicago Cutlery contributed inventory. The New York Times reported “..the prices obtained were extremely satisfactory, being well up to current market prices. There was a very large attendance, including representatives of the leading houses in Boston, Philadelphia, Cincinnati, Chicago, Baltimore, and even San Francisco.”

gavelAlso another very large 4 day sale conducted in New York that same year. The knife inventory was contributed directly from the manufacturers. Buyers came from all over the country, including 156 wholesale and dealer firms, as reported in the August 13th 1877 edition of The New York Times. The articles also notes, “Prices ran well, and the sale is said to indicate that there will be a good demand for cutlery this fall and that prices will be stiffly maintained.”

gavelThe next year another auction was held for “large quantities of hunting knives, pocket knives, skinning knives, sticking knives, and other similar articles.” The two day auction was held July 24 & 25, 1878 and was reported by The New York Times. The article states, “Bidding was spirited and fair prices realized.” And while a lot might contain a single knife or dozens of knives, in all 2481 lots were offered.

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With the advances in technology, compared to the late 1800s, the auction bidding could be simultaneously offered online and “live” right from the auction room. The firms with inventory in the auction would be allowed to set up booths outside the auction ballroom to promote their firm- much like a huge knife show- but the difference is the real purpose behind the event would be the auction, unlike today, where the auctions are but a side note to the knife shows.

Wouldn’t it be exciting to attend an auction of current production knives represented by all the top knife manufacturers?

It would be hotter than the Blade Show and the SHOT Show combined!

Photo credit: J P King Auction Company

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