Was it the kind of high price tag that would probably prohibit it's sale rather than make him one? If it seems like it's too much to pay it may be more of a display type item that he would rather not sell, but felt like it should have a price on it. Typically I use a NFS(not for sale) tag in such situations, but perhaps it helped to make his other items seem more reasonably priced. In the future when presenting a gift, put more emphasis on the fact that " I made this for YOU." and offer to take it back if he ever decides he no longer has a use for it. Just out of curiosity, did he give you a dime after you presented him a knife as a gift? It's an old tradition/superstition that ensures the knife in question won't sever the friendship.
If it were me I would definitely have a new opinion of "my friends" moral character, but getting angry is a waste of your time and more likely to have a negative effect on your life rather than his. You learned something about his value system and it only cost you a a nice knife. I'd choose to
look at it like a blade that broke while notching it and write it off as collateral damage, being thankful his greed didn't cause you more of a loss before you noticed it.
I've known a few "weasel totem" individuals here and there. Not how I choose to see things or behave, but a weasel makes a lousy wolf. He is what he is and oddly enough is usually okay with it that way.