For me, teak is king. Elegant, sturdy, and withstands harsh weather. New high grade quality sets are very expensive, but I’ve bought several used sets that have sat outside for decades. After a couple weekend days of sanding and re-oiling, they look brand new and are often better quality than expensive sets you can buy today. Granted it’s a bit of a hobby of mine - Never sell, but often gift sets to friends and family. Heck, I’ve got two tables and more chairs than I can count sitting out back waiting to be refinished, that I haven’t got to in over a year.

Though not strictly BIFL, I'm a big fan of Navy Coveralls for working in the garage. They are only $30, and are much more comfortable that the more 'durable' cardboard feel that seem typical in the more expensive ones. I work on my truck quite a bit, and for me, $30 every couple of years is great value.

Google “monkey dartboard stocks”, read a few articles, then put your money in a low cost index fund.

I'd talk to your 'Hedge fund friend'. Sounds like they have a pretty good idea of what's going on...

I have the Miyabi Birchwood handle knife as well - the 8" SG2 Chef's Knife. I've also had a few Shun and some high end Henkel. For me the Miyabi is the best knife I have ever owned in terms of holding an edge, lightweight, and usability. I know a few have remarked about them being brittle or hard to sharpen - They probably know what they are talking about, but I can simply say this. I've used this knife daily for the past five years and its still as sharp as a razor with only a few swipes of the Henkel sharping rod before each use.

It looks pretty well taken care of, but agree that it's impossible to know the value if you can't give it a test drive and have a trusted mechanic check it out. If you find something more local and you can kick the tires, I'd offer this. I bought a 1997 Chevy Silverado with 210k miles for $8k about 18 months ago. The engine and tranny had been replaced within the last 20k miles. I've probably put at least another $2k in it. Mine only gets about 12-13 MPG so there that, but I love it and think I got a steal. For sure a BIFL purchase for me.

Go to your local bank, get a new loan with a better rate, and pay off this one.