Spyderco's Caly design has long been heralded as one of the knife industry's benchmark designs. Candidly, I've never owned one before the version shown in this photo. Which version is it? Well...it is version 3 with smooth carbon fiber handles (like the Native 3) and a very interesting laminated blade of ZDP-189 and 420J2. The blade is so polished that it's hard to photograph without getting flare. So I muted everything down...and you can see the color of the table top reflected in the steel...which gives it a warm, soft look. Which...is rather strange considering that this is something made of steel. In any event, this is a very elegant design. The craftsmanship is quite good...the blade is made by Spyderco's Japanese affiliate. That said, I don't think that the quality of this knife is the equal of what Spyderco's Taiwan and American manufacturing plants put out. Still...a very nice knife that I'm glad to have in the collection!