This seems to be coming up a lot here.
I've been asked for quotes on sheathes and then subsequently ignored. It's a similar point to the one made over the maxped rip offs.
Quality workmanship takes time and it takes pride. Things like this are built to last, the sad fact is we are not programmed any longer to appreciate this. As a nation we shop in Primark for as little as possible so we can change things again when the whim takes us. We expect to know nothing of the start of the life of the product. Sad really - I'm not pointing at you Jason at all, please don't get me wrong.
If you want to buy a bonded leather belt from the supermarket for £4 then you can, you'll buy another next year or the year after.
Buy this and the dye will still be on the makers finger, masking the blisters from the needle as he held it, every eigth of an inch will be checked to ensure it's OK to go.
Each Christmas day for the next twenty years you'll have to loosen a notch from the groove it's worn, there will a slight polish from where your knife or SAK normally sits on your hip. Then, just as you retire the leather will eventually crack from all the years of sweating as you gathered your firewood. You'll email Leon in the hope he still makes them and know that you won't wear this one out, but your grandson will wear it three irritating notches further in when you've gone.
£40 ain't a lot of money really, think how much of a sore head you'd have for the same amount.
Sorry, getting all philosophical in my old age. I'm proud that here at least we seem to value this quality and skill. It's probably the main reason I'm always watching this thread, I often have my self stopped short at the skill shown.