New old stock
New old stock (NOS), refers to merchandise being offered for sale which was manufactured long ago but that has never been sold at retail. Such merchandise may not be produced anymore, and the new old stock may represent the only current market source of a particular item.[1]
Although not an officially recognized accounting term, it is in common use in the auction and retail 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 example is businesses catering to vacuum tube enthusiasts that define NOS as any stocked item which has been sitting on a stockroom or warehouse shelf for some time, in addition to stocked items which are no longer being manufactured.[2]
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.[3]
References
- "Business Definition for: NOS" by Barron's Educational Series, retrieved on 2008-10-20.
- "NOS Tubes: New Old Stock or Nasty Old Stuff?" Brent Jessee Recording, 2001, "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."; (retrieved on 2008-10-20).
- Coble, Hal. "NOS Parts - a definition" The Forward Look Network, 2003-02-25, retrieved on 2008-10-20.