New old stock

New old stock (NOS), also backronymed as "new on the shelf" or "new off the shelf", refers to obsolete equipment, or original parts (components) for obsolete equipment, that have never been sold at retail.[1]

The term refers to merchandise being offered for sale which was manufactured long ago but that has never been used. Such merchandise may not be produced anymore, and the new old stock may represent the only current market source of a particular item.

Although not an officially recognized accounting term, it is in common use in the auction and retail industries. For example, owners of antique vehicles seek NOS parts from specialized vendors that are needed to keep their automobiles, motorcycles, or trucks operational or in factory-original condition. Classic and vintage bicycle enthusiasts put a premium on NOS parts.

Another example is a business catering to vacuum tube enthusiasts that defines NOS as "mainly a retailer's term for any stocked item which is either A: out of production; B: discontinued from the current line of product; C: has been sitting on a stockroom or warehouse shelf for some time; or D: any combination of the above. The only constant here is that the product is unused."[2]

While damage to the original packaging is common, damage to its contents is generally not preferred in determining if an item is NOS; however, many items have been on shelves or in storage and over time may have developed some damage. This minor damage from shelf life does not detract from an item being identified as NOS.

Some people refer to such merchandise as new obsolete stock to further indicate that the parts have not been manufactured for several years. This describes parts that are used in obsolete equipment or the like.

Other people refer to 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.[3]

See also

References

  1. ↑ "Business Definition for: NOS" by Barron's Educational Series, retrieved on 2008-10-20.
  2. ↑ "NOS Tubes: New Old Stock or Nasty Old Stuff?" Brent Jessee Recording, 2001, retrieved on 2008-10-20.
  3. ↑ Coble, Hal. "NOS Parts - a definition" The Forward Look Network, 2003-02-25, retrieved on 2008-10-20.
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