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Hi Les,
Custom knives bear what the market will pay yet establishing that initial price can undervalue or overvalue the work. That becomes telling when a piece sells so fast or not. The dynamics of pricing are challenging on some works and can be pretty complex.
I did a trade on another maker's work made back in early 2000 or so. The dealer I work with wasn't sure what the price would be today on it. He estimated as best possible. Contacted the maker with a pic of the piece to gauge his thoughts on price as well as build spec. He couldn't recall nor did he know what it sold for in the day. He told me what he'd build one for in today's market. His works now reflect that 20 year time span in skills. Some makers early works can be quite desirable while the newer prices command a different pricing structure.
The data is an indicator whether that makers work is appreciating or dropping over the years. The pricing aspect is easier to counter if a buyer quotes something that sold X years back and current prices have risen or dropped. Establishing a fair price that buyer and seller are agreeable to is important. That's why I like to see historical data on the range of a makers offerings.
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Mike 
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