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Audio HI-FI grading in the Czech Republic is different from the one used in USA, Japan and European Union. I think that explaining sellers´ opinions on the visual and working condition to people from different areas is one of the most difficult problem in international HI-FI electronics sale and exchange.
As the majority of people using eBay are from the US (and I haven´t found anything better or more thorough) I use the following systems:


The AUDIO CLASSICS, LTD. Grading System

(http://www.audioclassics.com/grade.php3 )

Physical condition of the item is indicated by the letter (A-D, F, S), its Electrical condition is expressed by the number (1-7).
For example: A1 = as new, mint, meets or exceeds original specifications, all functions operate.

A As new - Mint Condition
B Some light wear - Excellent Condition
C Some scratches or nicks, light oxidation, more wear - Good Condition
D Some dents or oxidation, heavy wear - Fair Condition
F Oxidation, dents, dirt - Poor condition
S Special Item Call for Details

1 Meets or exceeds original specs, all functions operate
2 Meets original specs, noisy worn controls
3 Meets original specs, some functions broken NO WARRANTY
4 Does not meet spec, all functions operate AS IS
5 Does not meet spec, some functions broken AS IS
6 Plugged in lights up, may work. AS IS
7 Not checked, may work AS IS
8 Plugged in does not come on AS IS
? Not graded AS IS

Other Standard Notations:
NEW: New in a box
NIB: New In Box
NOS: New Old Stock - older item still in stock, never sold
DEMO: New display model with full warranty
FR: Factory Reconditioned
SFO: Stereo Factory Outlet
BS: "B" Stock: Factory reconditioned, some cosmetic flaws, acoustically and or

electronically perfect
XS: "X" Stock: Factory reconditioned, major cosmetic flaws, acoustically and or

electronically perfect
UNK: Unknown
- -: Not Applicable: New Item or Item Not Serialized