Do yourself a HUGE favor...
If you plan to hone a lot of eBay razors, mosey on over to the Lee Valley Tools website and order yourself a 220-1000 grit combo waterstone for about $25 plus shipping.
I just got mine today, and holy cow it makes a difference. I spent about two hours on Sunday trying to put a good bevel on a couple of near-wedges that I've been working on. I'd put a bevel on them with sandpaper, but it was rounded, so when I went to the Norton the hone wasn't hitting the edge.
It took about an hour for me to put a nice bevel on three razors, two of which were the wedge wannabes.
Tomorrow I'm going to work out a 1/2 bevel-deep nick on a Griffon that I plan to post here, and it probably will take 15 minutes on the 220 instead of hours...
This stone is great, and it's so affordable that I can save wear and tear on my Norton.
Just a tip,
Josh