I have written about the cyclical nature of custom knife markets for many years now. Most follow the established business stages referred to as the Product Life Cycle, listed below again for the benefit of first-time readers:
1) Development;
2) Introduction;
3) Growth;
4) Maturity; and
5) Decline.
Most collectors have seen knives go through the stages of the cycle no matter how long they have been involved with custom knives. Perhaps the market segment most discussed over the past 40 years has been steel.
It seems at least twice a year new super blade materials are developed. Usually, a well-known maker gives the steel his or her blessing. At that point, it is introduced to custom knife buyers. The growth—that is, use—of the super steel happens because