It is better to understand the difference in sharpening stone materials before you are going to make any decision. Among the available options in the market today, Waterstone, oilstone and diamond stone are the most common type of sharpening stone. Each of stones comes with advantages and disadvantages. Waterstone and oilstone are available in natural and synthetic models. Synthetic are the most common and easy to find as man makes them. As the use of natural stones (e.g. original Arkansas or Japanese natural whetstones) is has diminished in popularity, they are beginning to rare in the market. Artificial stones have a more consistent particle size and controlled with a tight mechanism in providing high-quality sharpening stone.
You've acquired a good chef's knife, you're using it almost daily to make tasty dinners for the family, and it's stored in a nice knife rack or a magnet for safekeeping. So why stop there? Keeping that knife's edge fine will make cooking not only safer but, let's face it, much more fun. Whether you've spent £150 on a high-end knife or under a tenner on a dinky paring knife, keeping it sharp is crucial. 
You need a stone holder, something that can be purchased for as little as $20.00 to keep the water stone is place as you sharpen. A lot of water stones come with a base, so there’s so need to get it separately. Some people just have the stone on a piece of wood over a container of water with a cloth underneath the stone to keep it from slipping. The key is that you don’t need to spend a lot of money to get started and you don’t need Naniwa Chosera stones, you can start with King water stones if you like, those are fine and I don’t mention King in an attempt to say they are inferior in any way. The key to learning is not what you are using, not the quality or brand of stones, it is developing consistency with a technique that you can use comfortably and repeat. Saying that, stay away from the seven dollar stones available at the hardware store. (Remember, I tried everything).
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If you do not remove enough metal to create a new edge, you will leave some of the dull edge in place. A dull blade (or a blade with dull spots or nicks) will reflect light from the very edge of the blade. A razor sharp knife edge will not show "bright spots" when you hold it blade up under a bright light. You will need to remove enough material from the sides of the bevel so that the edge stops reflecting light.


The Chef’s Choice 476 2-Stage Sharpener transforms your weary kitchen, hunting and pocket knives into razor sharp cutting instruments with dependable ease. The sharpener is simple in concept, solid in its fabrication and reliable in the way it goes about its business. The design is also free of right-hand bias which is good news for the lefty chefs out there.
I am just starting out sharpening with whet stones. I have found these stones to be very nice and the instructional videos that come along with the set on knifeplanet are extremely helpful to anyone starting out. The cost of the set was very reasonable and seems to be a great value. The customer service is amazing, I lost the site for the videos and sent an email to get the information and immediately there was a reply with all of the links that I needed. I appreciate their attention to their customers!!
Our second entry from Chef’s Choice is the 463 Pronto Santoku. This manual sharpener is super-simple to use and delivers fast, high quality results every time. While this is a “2-stage” system there’s nothing complicated about it. One slot is for sharpening and the other for honing. Both stages utilize diamond abrasive surfaces so your blades will retain its edge for a good long time.
However, due to limited natural deposits and extensive quarrying over the centuries, true, high quality, Japanese water stones are now few and far between and are very expensive. Thus, various companies are now producing synthetic Japanese Water Stones which generally have a more consistent composition and grit size than natural stones as well as often begin somewhat harder and thus, lasting a bit longer; not to mention being cheaper to purchase.
Next we sharpen the opposite side of the blade. Just as you did before, sharpen the knife keeping an angle of 10' to 15'. Push the point you want to sharpen with your first, second and third fingers. While keeping the angle and pushing the point with your fingers, stroke the blade until it reaches the other edge of the whetstone. Then pull the blade back until it reaches the edge of the whetstone. This back and forth is counted as one stroke. Repeat it for about five strokes until you can see or feel some small burrs (edge curvatures).. Then move the position of your fingers to where you have not sharpened yet, and repeat this five strokes of sharpening processed from the tip to the base of the blade. When your whetstone becomes dry, occational watering during  sharpening process will also help and improve smooth sharpening.

When starting out sharpening, it won’t be long before you hear about the “toothy” vs “polished” edge. It will suffice to know that a 1k stone is going to give you an edge that will perform beautifully as will a knife finished at 5k. There is a belief that a knife that has a highly polished finish, 5k and up will be so polished that it’s toothy goodness will be erased. This knife will not bite into the skin of a tomato for example because the edge is too polished, it will slide over the top. This is not always true, if the knife has been sharpened well, i.e. if Side A and Side B of the blade meet precisely at the Apex of the knife, that edge will slide into a tomato quite beautifully. I have seen many brand new Japanese knives with highly polished 8k edges that no tomato skin can stand up to.
You must put the knife blade's position at the perfect angle which is called "against the stone." What's important is the blade should be facing opposite from you. Where you've determined where the bevel angle is located, then this is what you will position against the stone. It's a good idea to know the differences between various angles for certain blade uses. There's a certain height of the blade that it should be from the stone. You'll be able to find various charts on height of the blade online. Normally, for a pocket knife or kitchen knife, it'll be 17° - 22° angle against the stone. The "Rule of thumb" is the smaller the angle, the sharper the knife. Most makers will have it in the instruction or on their official website. 

An extremely well written and informative article on sharpening. Overtime we all get to love certain stones for our sharpening needs. I am a huge coticule fan, and although i have used all the others, i always come back to this natural stone above all others. Still trying to figure if i chose it or it chose me! NEver the less there are so many options out there it is not hard with a little time and effort to find the right combination for your needs.
I know that it is very helpful to watch a video of this process and the best videos of knife sharpening I have seen are out there for you. If you only watch one person sharpen a knife, watch Jon Broida from Japanese Knife Imports. Extremely professional videos and easy to understand. I have a couple of videos as well on my website but I really like what Jon has done for the sharpening community.
Selecting the right sharpening angle is the next step in sharpening. For more detailed instructions on selecting the right angle, try reading this article. Regardless of the method of sharpening, a appropriate angle should be selected. This angle doesn't need to be exact but following some general guidelines is a good idea. Most knife manufacturers recommend a roughly 20 degree angle. Depending on the use of your knife, you can move up or down from that angle. A fillet or slicing knife is never used on anything hard so an angle a few degrees less will produce a sharper edge. On the other hand, a survival knife with various uses can benefit from a more durable edge a few degrees larger.
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