From: About.com Housewares Appliances

Whether to skimp on your knife purchase or go for broke, is often a
difficult decision and the wide range of prices doesn't really help
much. We're also often mislead by claims of sharp knives that
promise to be like new forever. Well, sharpness is not necessarily
the real indicator of a good knife - after all, even paper can be
sharp - we've all had paper cuts from time to time. There are other
factors to consider when it comes to quality knives. Buying
expensive knives may not fit in everyone's budget, but if you know
what to look for in a good knife, you can buy what you can afford
and upgrade later. Learn the differences in knife quality and then
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