New old stock (NOS), or old stock for short, refers to aged stock of merchandise that was never sold to a customer and still new in original packaging. Such merchandise may not be manufactured anymore, and the new old stock may represent the only current source of a particular item.
retrieved on 2008-10-20. There is no consensus on how old a product must be to be NOS, and some people reserve an NOS label only for products that are actually discontinued.
Although not an officially recognized accounting term, it is in common use in the
auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition e ...
and
retail
Retail is the sale of goods and Service (economics), services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturing, manufacturers, dire ...
industries. For example, owners of classic, vintage, and antique vehicles seek NOS parts that are needed to keep their bicycles, automobiles, motorcycles, or trucks operational, or in factory-original condition. These owners put a premium on NOS parts.
Another definition of NOS is new original stock, meaning that they are original equipment parts that remained in inventory for a use that never came. Automobile dealers and parts companies often sell such slow-moving stock at a discount. Other specialty parts vendors then market these NOS parts that may either decline or increase in value depending on their type and desirability.
Coble, Hal. "NOS Parts - a definition" The Forward Look Network, 2003-02-25
retrieved on 2008-10-20.
See also
* Do-it-yourself
"Do it yourself" ("DIY") is the method of building, modifying, or repairing things by oneself without the direct aid of professionals or certified experts. Academic research has described DIY as behaviors where "individuals use raw and se ...
* Mint condition
Mint condition is an expression used to denote the quality of a pre-owned good as displaying virtually no imperfections and being in pristine condition relative to its original production state. Originally, the phrase related to the way collect ...
* Original equipment manufacturer
An original equipment manufacturer (OEM) is generally perceived as a company that produces non-aftermarket parts and equipment that may be marketed by another manufacturer. It is a common industry term recognized and used by many professional or ...
References
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Contexts for auctions
Inventory