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New old stock
refers to obsolete equipment, or original parts for obsolete equipment, that have never been sold at retail.
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.
Another example is a business catering to vacuum tube
In electronics, a vacuum tube, electron tube , or thermionic valve , reduced to simply "tube" or "valve" in everyday parlance, is a device that relies on the flow of electric current through a vacuum...
enthusiasts that defines NOS as, 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.
While damage to the original packaging is common, damage to its contents is generally not acceptable in determining if an item is NOS, as it should be presentable in the same form as when new.
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.