This is a brand new Fox Karambit with the Emerson Wave feature. It is an Italian made knife of the highest quality. If you research this knife you will see that it is considered better than the Emerson Karambit by many. I have owed an Emerson Karambit and this Fox and feel that they are of equivalent quality. If you are not familiar with the Emerson Wave, it basicall opens that knife automatically as you pull it from your pocket. It works every time and is the fastest opener that you can find. It comes in the box as supplied by the factory.