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A neck knife is indeed a neck of a smaller stature designed to be worn around the neck however that doesn't mean you must wear it around your neck. That sheath clearly has a belt loop built in so the maker gave it options. Juergen schanz has been a master knife maker (meaning actually carrying the designation of a master) since 1995. You can guarantee it's a quality piece. I'm surprised this hasn't sold. If it was on a knife forum at that price it'd have been gone quickly. If I could budget for it I'd own it. Good luck with your sale