FAQ: Are knives a good investment?

Maybe -- it all depends on your own personal definitions of "good" and "investment."

If you're wondering if a relatively small investment in knives will someday provide returns good enough to fund a comfortable lifestyle in retirement... then no, probably not.

Might it yield enough to buy a nice family dinner? Possibly. A luxury cruise? That might be a stretch.

Sure, some knives have increased in value over time, and a handful have appreciated substantially. Makers like Randall, Scagel and Moran come to mind.

But unless you have the wherewithal to acquire a number of such knives -- that is, make a considerable investment -- and you have the time to wait until they reach their peak values (if they actually do increase in value), then it's unlikely that a collection of fine knives will ever rival a trust fund.

We're not saying that having a knife collection is a bad thing -- not at all. We're simply suggesting that it's wise to keep its investment potential in perspective.

When you spend your hard-earned money on a fine knife today and "put it aside" (not use it), you're preserving its potential to bring top dollar later. Its value may increase, decrease or stay the same -- no guarantees. At the very least, it becomes a tangible asset with a potential value that may be able to be recouped.

Just be honest with yourself about that potential value.

A knife collection can be a wonderful asset with modest investment potential. With that perspective, if you choose to start (or add to) your personal collection, we have two recommendations:

• Collect knives that you actually like.
• Don't forget to have fun.

Collect for pleasure, then, not for profit. Make informed decisions, both when you buy and when you sell, and every now and then take a chance. Later, you just might make a few bucks -- and even if you don't, you'll still have the satisfaction of having made a good investment in your own enjoyment.