Gakusee

Thank you very much, Tom, that is wonderful!

Peter We all started digressing into 'is gendaito better than shinsakuto?', 'oh, why, my god, why is my mass produced WW2 blade priced where it is?' and our pet loves and interests, and ignored your question. I shall provide my humble views: 1) at the moment, from a macroeconomic perspective, globally there is a heck of a lot of loose monetary policy being practised by central banks and reserves; this means, in layman's terms, than they require banks to hold lower currency reserves (thus relieving retail banks of the requirement to have reserves centrally and encouraging them to lend the excess more) and the government institutions deploy central funds to purchase debt obligations thus increasing money supply in the economy. When there is a lot of something, its price comes down. In our case, the value of money goes down through the inflation mechanism - inflation rates are high, money buys less, etc. That is why you are seeing so many people fleeing to alternative assets to fiat (i.e. normal ) money - be it gold, bitcoin/ethereum, non-fiat-token digital assets, art. Normal money costs less (you can view the interest rate in the bank as its value increment and inflation as its decrement = the net change is negative as inflation is much higher that interest rates and real GDP growth) 2) so, investing in alternative assets when money is abundant makes diversification sense - be it real estate (you know it, its price is up too!), art collections, value depository assets (gold, diamonds, platinum, silver). Now, you need to be careful with the so called commodities and precious metals as their value is influenced by industrial usage as well as financial operations (the so called forward and futures prices, derivatives, etc) 3) zooming into art more precisely, as an alternative asset class in addition to a source of personal gratification and aesthetic enjoyment, it is booming (for the reasons above plus the additional wealth created in emerging real economies such as China or the Middle East or Russia or digital economies - think of the Bitcoin and Ethereum billionaires and multimillionaires who lucked it out). It could be digital art (https://www.forbes.com/sites/abrambrown/2021/03/11/beeple-art-sells-for-693-million-becoming-most-expensive-nft-ever/) or antique art (https://www.theartnewspaper.com/news/disarming-new-findings-on-leonardos-salvator-mundi). 4) are antique weapons merely a historic artefact or art? That is a tricky question. Are Japanese swords works of art? It merits its own treatise. A-ha! It exists! Please refer to my friend, Paul's, interesting article on the subject https://to-ken.uk/onewebmedia/why article.pdf 5) so, having established that there is demand for alternative assets and art in particular, then we need to analyse whether our Japanese swords are really art, and, if so, high or fine art. Are they mass/machine produced swords, of which there are many tens of thousands, all look similar, etc or are they unique, beautiful, old (so there is the historic/antique element). What is the state of preservation? Is there historic provenance (daimyo ownership)? Is there evidence they were cherished, appreciated, etc? I suppose one could read another friend of mine's blog posts here : https://blog.yuhindo.com/what-i-learned-from-you/#more-124. and https://blog.yuhindo.com/fungible/ They sort of conclude that people like differentiated, quality items, which store/reserve their value. There is more there too (about a specialist collection, about high vs low/wide) etc and Guido has also written on that topic separately. So, Peter, I would conclude (my wife is calling me for lunch!) by saying: - there is plenty of disposable wealth and money around - it is looking for art and Japanese swords too (I know several guys in their 30s with remarkable Juyo and TJ collections at the topmost level) - however, with the plethora of available (mostly digital) information, that wealth is 'better informed' and 'smarter'. It is no longer the golden era of the Japanese or Militaria arms fair or show in the airport hotel of the 1970s-1990s where people were buying unprepared and myths were being perpetuated about Juyo swords, about what certain words in sayagaki meant, etc - to attract those buyers, or even just knowledgeable buyers, if you are selling a top item, there should not be an issue. - if you are selling an average item, then you need to be able to swallow the loss of the dealer premium you paid when you bought your sword. That premium could range from 0 to 100%. I know US dealers who tend to put 30-40% premiums, European dealers who put 50-80% premiums, Japanese, who put around 25-30%, etc. Of course I could go much further into the topic (was an item bought at the exclusive/secretive Japanese dealer auction or not, was it bought directly from a Japanese collector, and how was it subsequently priced by the Occidental dealer?) but it is unwise to discuss trade secrets . Leon T above explains well why there is a dealer premium. - if, however, you bought from a dealer, and then upgraded a certificate, then you can make money. Unfortunately the ladder theory (https://blog.yuhindo.com/ladder-theory/) works in sword pricing. I have been fortunate to upgrade swords bought from dealers and made money, but do not count on it. It is not common. - one final thought: do not sell as a collection if you can avoid it. Anecdotally I have observed through the dispersal of several collections, that it is better to 'trickle' the swords into the market, finding the right buyer for the right sword rather than flooding the market with self-competing swords

Kiril, I would like to raise a few comments, if I may, on your thought/debate-provoking (thank you for that, as NMB has become a bit boring for me!) contributions: Let us not joke here with the beginners in the hobby please. A Masamune will not sell for $60k (where do I get a couple please?), even if it is 'merely Hozon'. We both know what that Hozon means..... On the point of old Honami papers - agree. And this is hopefully beneficial to John V 'Darkcon'. It all depends on who the Honami judge was - if it were Kochu or Kojo, that is fine (they are the most reliable), or even Koyu to some extent, but those Honami after them often issued origami under duress or the temptation of reward, and there are a lot of discredited Honami papers which indeed today will be rejected. Darcy himself thoroughly documented a case like that: a published 'Masamune', with a tonne of Honami papers and family heirloom letters, fancy koshirae etc etc , which today is believed to be a good Edo 'reproduction': https://yuhindo.com/masamune/ As to Scythian gold mounts, well, CF https://www.antiquities.co.uk/shop/appliques-protomes/bronze-age-scythian-gold-zoomorphic-mount/ and judge for yourselves.

Jacques, what you are saying can be reversed and be equally valid: the opinion of the Shinsa panel is just that, an opinion and an estimate (the most logical and risk-weighted assessment out of several possibilities but still an opinion). In fact, I prefer the opinion of Tanobe sensei over the opinions of younger, less experienced members, even if there are 10 of them. Also we all know what herd mentality is and how people behave. That applies to an even greater degree in consensus-driven Japan. It takes guts, knowledge, conviction and scholarship to reach a conclusion that others eschew out of conservatism. So sometimes Tanobe sensei in a sayagaki will put a sword to a particular smith while the Shinsa panel only pronounces the the school and period.

Thanks, Peter:)) However I do not think I shall buy the book for one blade :)). I thought that you might take photos of what is exhibited, similarly to what we do with our Token Society meetings in the U.K. However, I have access to the Juyo Zufu books where it is described. Nevertheless I do appreciate the recommendation. Keep well.

Tom, Omiya is Bizen den. Yes, some predecessor might have relocated there from Yamashiro but Omiya is in Bizen/Osafune. In fact, there are some very good Omiya swords, with very expressive hamon, that one could confuse for some of the more famous Soden or Osafune guys. The name Morishige persisted for several generations, from late Kamakura to Muromachi. Started off as a niji mei Morishige and moved on to Bishu Osafune Morishige mei across the generations. And on the blade - I concur: it looks like an excellent and impressive blade!

Well, the reality is that when Kotetsu is compared to the really old grandmasters, which Chris and I are partial to, he fades. However, on his own, the hada and execution are very competent and tight and well forged; usually with a well defined and nice gunome or midare notare hamon.

Thanks, Peter. Interesting Hasebe tachi. Pretty much one of a kind. Do you have more photos of it?

So, Jason and John, my experience with this is the following: - very few people speak English properly at the NBTHK or are brave to speak it. I suspect more can speak it than they profess; whatever the case, you get little with pure English enquiries and no way you can email - therefore, usually your enquiries should be in Japanese to hit the highest success rate - either in person, or by phone or via fax (!) - I used a friend/agent for an enquiry /needless to say he speaks perfect Japanese - I was interested in a Muramasa katana around 7-8 years ago but it came with only koshu tokubetsu kicho papers. Now it being in Japan, putatively made by a very famous smith and with a well-known dealer, it seemed to me that the dealer could/should have got a new certificate - so my scepticism led me to ask my friend to make some calls to the NBTHK to enquire about the sword, certificate, etc. - needless to say, after all of that consultation, I did not buy the sword The NBTHK are very secretive about the records they keep - it would make sense for them to keep copies of the photos or oshigata of issued certificates but I am not sure. Regarding Juyo and TJ - yes, they do keep records and the Juyo zufu is one such evidence of a record. But when it comes to H/TH I am not sure whether they keep nakago photos/oshigata, certificate number / issue date or not. My suspicion is that there is some h/TH record, which is borne out of: - my personal experience in the consultation above - the description on their website saying that you could call and check

So, John, on your question about NBTHK certificates and what the organisation can do: they can reissue (once only) only lost Juyo certificates. TH and below do not get reissued if lost/misplaced, but only if they are damaged or contain errors. However, if you have the certificate number, its issue date and details about the blade, you can call them and enquire about confirming that such a certificate had been issued indeed. Details of all of this here: https://www.touken.or.jp/shinsa/syousyo.html Out of curiosity, what precisely are you selling? You are talking about hundreds of blades but then mention around 10, and of these ten you focus on a few to submit to Juyo (good luck by the way).

There are no shortcuts indeed, Georg. What happens, and people do not realise it, is that a blade can stay at the NBTHK on its progression up. The only shortcut at the moment is the 'joint', or simultaneous, submission to Hozon and Tokubetsu Hozon - that is possible. So, some blades are submitted to H&TH in one go, the blade stays at the NBTHK and then is enrolled into the Juyo shinsa. That is possible. The blade in my view will pass Juyo. Here some people are just trying to show sophistication and deeper analysis by focusing on negatives.

Hi Yas, I am afraid that article is inaccurate when it comes to values of swords and highest amounts paid. One example most of us here on the board know of due to the publicity raised on NMB is the Yamatorige Fukuoka Ichimonji, which traded for $5m, so 550m yen. I am not sure about the number of Kiyomaro swords but there are books dedicated solely to him and perhaps someone could quote from there more specific information about that smith.

This was for sale less than a year ago for a fraction of the price

Shallow notare midare with kuichigaiba

Mark, well done we are in awe of your valour. Unbelievable what could have happened and what actually happened. On the point of pocket knives: where I live, I have absolutely no need for a knife on me. It is a different thing if I were out in the woods on a picnic or trip up the mountains. But in central London you are better off with a pen or mobile phone rather than a penknife. Of course even a pen could turn into a lethal weapon if deployed appropriately around the neck or eye sockets. But that is a digression - apologies. Mark - the humidity in my room has been at 35% for the last 2 months and I have had to check with several hygrometers to ensure my dehumidifier had not broken down. So, a thin coat of oil can last you months indeed. Wish you speedy recovery - physical and psychological. Blasted cowards pulling blades on people and threatening vulnerable people will be punished.

To put an end to the debate. In both museums there are clear signs of what is allowed and what not. I have taken hundreds of photos in both museums. Sometimes privately owned JuBu and JuBi cannot be photographed but state owned can. Same with Juyo and TJ exhibitions - follow the signs. I think you cannot / are not allowed as these are privately owned but cannot remember in detail (and also because I have some photos from such

Guido, excellent. Thanks for this travelogue and great photos

Shizumi means unclear or indistinct. So any adjective such as Gire (interrupted) or Shizumi that follows the word for hardening Nioi makes the expression or flaw name. So which one you use depends on the situation, how big it is and what happens around the flaw. The reasons for this happening are numerous: eg, crappy hardening process (Jacques described that); over polishing (and thus the hamon there disappears - remember that the hamon is a surface accumulation of martensite); or heat treatment (the yakiba being exposed to fire for example).

Interrupted (partially, fully, whatever) hamon is called “nioi gire”. JP - by now you should know that the Japanese have a name for everything :). When the hamon is gone, it is gone. That cannot be corrected by polishing, which is just a cosmetic procedure. It is actually quite a serious flaw from a functional perspective as the blade there is softer and cannot hold an edge. Of course, in war times, they would just retemper the sword perhaps. How the flaw came about is a completely different story.....

Thanks, Luc, appreciate it!

Do you please have a snapshot of the contents page and some of the contents? What are we talking about here - 10 armours / 20 armours / 30 armours? Are there swords or kodogu in there too or mostly/only armour and parts thereof (menpo, kabuto etc)? Thank you.

Bob has very high quality fittings and we are so lucky in the U.K. he so generously shares them with the public. Thank you again, Bob!

Ok, to be more specific, you can look some of the British royal family items up here and their location, description etc : https://www.rct.uk/collection/62628/court-style-sword-kazaridachi-and-scabbard

I can also see who gives what reactions via voting emoticons. And frankly, Brian, it is useful to know who has voted how. It gives you a perspective into who “likes” what you have said / done or even you, or who “dislikes” you, perhaps an inkling as to who you might have angered..... So, please do not remove this feature.

They do have Japanese swords and they are displayed in various places - Tower of London, their castles including Windsor, etc etc