Brand New items are unused and factory new.
Refurbished items processed to ensure they meet original manufacturer specifications.
Like New items have very minor wear, if any.
Very Good items are well cared for but will have light wear and tear from normal use.
Good items show wear from use, but remain fully functional. They maybe marked, or have identifying markings on it, or show other signs of previous use.
Acceptable items are fairly worn but continue to work with fully. Signs of wear can include aesthetic issues such as scratches, and discoloration.