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I have no idea what model this one is. I tried to look it up on Benchmade's site as well as other forums but there are slight differences between all the ones I've seen and this one.
I've looked at the 42s and wasn't sure if that was it. Here is a pic and it shows one of the differences between the 42 I found online, as well as the latch obviously.
I don't think it's a 42 variant. It looks much older, to my not so professionally trained eye. Notice that your knife also has one stud on the "back" of the blade (visible when in the closed position) that is used to lock the blade and handles together. The newer 4X series balisongs have a pair of "kick-pins" in each handle, that lock into notches in the blade in the open position.
Also, your knife has an older "T-latch" instead of the newer spring-loaded latch. Just a hunch, but I'd guess the handles are stainless steel, like another posted mentioned. I'm guessing the knife has a hefty weight to it, correct?
It's probably worth some money. Collectors go nuts for those older benchmades...
For what ever reason the benchmade 45 has not been going up in value as much as the newer 4x (41,42,43,46,47,and 49) I think you could get at best $200. The general condition and the fact that you can see the outline of the hidden pin will be a huge turn off to any Bali collector.
Regardless of market value, I think it looks pretty awesome. It definitely looks like an older one. The logo looks like it was done by hand! Steel is weighty, and I'm a fan of more weight with whatever it is, especially a firearm. 'Weight is good, weight is sign of reliability. If it does not cut, you can always hit him with it...'
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