A gypsum panel knife and blade holder apparatus includes a blade holding pan having a bottom panel, side panels, end panels and an open top. The side panels each have an inside surface and an upper edge, the edges defining a pan periphery. The blade holder includes a plurality of slots that extend longitudinally on the blade holder, each slot being of a length that approaches the greater dimension of the length or width of the blade holder. A plurality of knives fit the blade holder at the slots, each of the knives having a blade with a width and a length, the width being much greater than the width for at least some of the knives.