I've had several Buck knives over the years. All with black sheaths. I lost my last Buck 120 in the woods this winter. Took to the 120 with the Dymondwood handle. This particular model came with a burgandy dyed sheath. Whatever the Chinese used to dye this leather gave me a bad allergic reaction. The fire department got here just in time to give me an epinephrine shot. Love the knife...but it's all going back in the box and back to Buck.
The 120 sheath fits my 18 year old blade perfectly. The stitching is robust and neatly done. The clasp took awhile to conform to the knife's handle but does fine after a bit. The fit is precise; the quality is top flight. I recommend it to you without reservation.