In my view, a website is where clients/customers learn about you and your knives. When it comes to selling custom knives, many times it's as much about the Knifemaker as it is the knife. If you sell a single knife off a website, then your investment has paid for itself. A website is like a trip to the mall..... pretty much everything you're looking for in one place.
Social media is like the 7-11 convenience store...... quick in and out, to grab a specific item or two, without a lot of detailed information on the product or it's maker.
If you're worried about "wait times", don't take orders. Or figure out something that will work for your situation. Personally, I only take an order if it's interesting and something I want to do. Otherwise I make the knives I want, and offer then up as they are completed...... using both my website and social media.