ALMOST PERFECT CONDITION and includes a handmade and stitched leather sheath from Uptmore Saddlery that was custom-made for this exact knife. The only defect in this knife is a few light scratches on one side of the blade right at the cutting edge. They are so faint that I could not get them to show up in the pictures. Otherwise, this knife looks and functions like a brand new knife. It comes with the factory box, velvet bag, Axis insert and the leather sheath. It will still carry Benchmade’s lifelong factory warranty as the knife is unmodified.