Knife collecting still making the cut

us-economyThis year’s been a doozie and we’ve still got a quarter to go. We’ll end up at over a hundred bank closings. Auto maker bailouts. Record high foreclosures. Unemployment near 10%.  Record business and personal bankruptcies. Makes your head spin doesn’t it? Not since the Great Depression has our country been hammered like it has this year.

CNJ reported successful knife makers reduced employee’s salaries or have been forced to adjust by laying off workers due to low knife sales. In some cases other business failures have impacted knife companies too- distributors, retailers and suppliers.

In regard to our knife organizations, the timing of this severe downturn couldn’t be worse, as most need the steady revenue while the leaderships conduct SWAT analysis on their organizations. The economy’s caused many collectors to drop club and association memberships.

economyThe dark-side of the recession is also having it’s toll on collectors in other areas too. More collectors are selling knives to help make ends meet. I spoke with another collector yesterday who is selling because he needs the cash.

One knife industry expert claims, incidentally, these collectors will become tomorrow’s dealers. His theory is this-  these individuals who do need to sell will hit the show circuit in order to liquidate. Then they will eventually need to buy more knives from other dealers in order to have additional inventory to sale. I think that is hog wash, personally. The guy I mentioned earlier who is selling off a major chunk of his collection isn’t going to set up at shows- he’s using eBay.

Even with the tough times, knife collecting is still making the cut.

The 2009 CNJ Knife Collector Survey taken earlier this year revealed almost half of the 1300 collectors surveyed stated their participation in the hobby hasn’t been affected by the recession.

Click to enlarge

2009 Knife Collector Survey Q#6 II

******

There is an additional bright-side to all this too- Record low interest rates and tremendous investment buying opportunities. Untold billions will be made as a result of this recession. Cash rich companies and individuals will make a fortune buying in a down market, but when we do come out of this-  the business landscape will look all together different.

Don’t be surprised if there are some knife company mergers and buy-outs before this is all said and done too.

Photo credits: http://www.uml.edu; http://www.blogtrepreneur.com

Advertisements

The URI to TrackBack this entry is: https://cutlerynewsjournal.wordpress.com/2009/09/06/knife-collecting-still-making-the-cut/trackback/

RSS feed for comments on this post.

One CommentLeave a comment

  1. There are some knife companies that should merge.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: