The standards our curators use to grade items, and what sellers must follow when writing item descriptions. If you're a buyer, this also helps you understand the condition terms used in each listing.
For collector watches, having the box and papers affects value enormously — not just the physical condition of the watch itself.
Original box, original warranty card/papers, and all the extras (spare links, manual) present.
The watch alone, with no box or papers. Perfectly sellable, but usually worth less than a full set.
Never worn, or with wear so slight it is invisible — crystal and case unmarked.
Works normally, with the fine scratches on the case or strap you would expect from daily wear.