Reseller Acronyms and Abbreviations | Selling Online Terminology | eBay Flipping for Beginners 2019
If you are thinking about venturing into the world of reselling products online, whether it’s through eBay or other platforms, you may come across a plethora of acronyms and abbreviations that can seem confusing and overwhelming. To help you navigate this jargon-filled landscape, we have compiled a list of common reselling acronyms and abbreviations that every beginner should know.
1. NIB – New in Box: This acronym indicates that the product you are selling is brand new and still in its original packaging. Buyers usually prefer NIB items as they are considered to be in pristine condition.
2. BNWT – Brand New with Tags: This abbreviation is commonly used in the clothing and fashion industry. It signifies that the item being sold is new and still has its original tags attached.
3. NWT – New with Tags: Similar to BNWT, NWT indicates that the product is new, but it may not necessarily have the brand tags attached. This term is also used in the clothing and fashion industry.
4. BNIB – Brand New in Box: This abbreviation is often used to describe products that are new and still in their original packaging. The only difference from NIB is the emphasis on the brand aspect.
5. CIB – Complete in Box: CIB denotes that the item being sold is complete with all the original accessories and packaging. This is commonly used when selling video games and consoles.
6. BIN – Buy It Now: This abbreviation often accompanies a fixed price listing on eBay. It means that the seller has set a specific price for the item and buyers can purchase it immediately without the need for bidding.
7. OBO – Or Best Offer: When you see this acronym in a listing, it means that the seller is open to negotiating the price. Buyers can submit their best offer, and the seller can choose to accept or decline it.
8. EUC – Excellent Used Condition: EUC is used to describe items that have been previously owned but are still in excellent condition. Sellers often use this term to indicate that the product has minimal signs of wear.
9. NOS – New Old Stock: NOS refers to products that are no longer produced but are still in new condition and have never been sold or used. These items often hold value for collectors.
10. BOC – Box of Crap: While not a commonly used acronym, BOC is occasionally seen in reselling communities. It refers to a mystery box of various items that a seller will offer at a low price. The contents of the box may be random or unwanted by the seller.
Understanding and using these acronyms and abbreviations can greatly enhance your reselling experience. They not only save space in your listings but also make it easier for buyers to understand the condition and type of product you are selling.
If you come across any other acronyms or abbreviations that you are unfamiliar with, don’t hesitate to ask experienced resellers or do some research online. Be sure to take notes and create a personal glossary for future reference.
Remember, reselling is about finding profitable products and effectively communicating with potential buyers. So, learning the language of reselling can be crucial to scaling your business and maximizing your profits.
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