Below is a copy and paste of the guidelines provided by Amazon.com regarding how to rate the quality of an item. These are a great reference tool to know exactly what condition your item is in so that both parties in the trade can be happy.
Dan - If possible, please make this a sticky post so it is accessable to new members or consider adding condition guidelines to the FAQ of the site. Thanks!
BooksNew: Just like it sounds. A brand-new, unused, unread copy in perfect condition.
Like New: An apparently unread copy in perfect condition. Dust cover is intact; pages are clean and are not marred by notes or folds of any kind. Suitable for presenting as a gift.
Very Good: A copy that has been read, but remains in excellent condition. Pages are intact and are not marred by notes or highlighting. The spine remains undamaged.
Good: A copy that has been read, but remains in clean condition. All pages are intact, and the cover is intact (including dust cover, if applicable). The spine may show signs of wear. Pages can include limited notes and highlighting, and the copy can include "From the library of" labels.
Acceptable: A readable copy. All pages are intact, and the cover is intact (the dust cover may be missing). Pages can include considerable notes--in pen or highlighter--but the notes cannot obscure the text.
MusicNew: Just like it sounds. A brand-new, unused, unopened CD or cassette in perfect condition.
Like New: An apparently unopened CD or cassette in perfect condition (although it may be out of its original wrapping). The jewel case or cassette case is pristine. The liner notes, inclusions, and/or sleeve are in perfect condition. The CD or tape itself is unmarked, with no sign of wear. Suitable for presenting as a gift.
Very Good: A well-cared-for CD or cassette that has been listened to, but remains in great condition and plays perfectly. The jewel case/cassette case may show limited signs of wear, as may the liner notes and inclusions.
Good: The CD or cassette plays perfectly but has clear signs of wear. The jewel case or cassette case is undamaged, and original liner notes are in good, unmarked condition. The CD, cassette, or packaging may have identification markings from its owner.
Acceptable: The CD or cassette plays perfectly, but is otherwise the worse for wear. The jewel case or cassette case may be damaged, and the liner notes may be marked (but remain complete and legible). The CD, cassette, or packaging may have identification markings from its owner.
Videos and DVDsNew: Just like it sounds. A brand-new, unused, unopened video or DVD in perfect condition in its original packaging and with all original packaging materials included.
Like New: An apparently unopened video or DVD in perfect condition (although it may be out of its original wrapping). The box or jewel case is clean and vivid, with no signs of wear. Suitable for presenting as a gift.
Very Good: A well-cared-for video or DVD that has been played, but remains in great condition. The film is complete, without interruption, and does not skip. The jewel case may show limited signs of wear, as may the liner notes.
Good: A video or DVD with clear external signs of wear, but one that continues to play perfectly. The video or DVD may have identification markings from its owner.
Acceptable: A video or DVD with extensive external signs of wear, but one that continues to play perfectly. The box or jewel case may be damaged, and the notes or other inclusions may be marked (but remain complete and legible). The video or DVD may have identification markings from its owner.
Video GamesNew: Just like it sounds. A brand-new, unused, unopened video game in perfect condition in its original packaging and with all original packaging materials included.
Like New: An apparently unopened video game in perfect condition (although it may be out of its original wrapping). The box and item are pristine, with no signs of wear. Suitable for presenting as a gift.
Very Good: A well-cared-for video game that has been played but remains in great condition. The game and its original packaging are complete and slightly worn, but unmarked and undamaged.
Good: The video game shows wear from consistent use, but remains in good condition. There may be clear external signs of wear and damage to the original packaging or instructions, but the game plays perfectly. The video game may have identification markings from its owner.
Acceptable: The video game is fairly worn, but it continues to work perfectly. The box and instructions may be missing or damaged. The video game may have identification markings from its owner.
When in doubt, it is always beneficial to err on the side of caution and place extra notes in the additional field noting any flaws or missing parts so that individuals can make a well informed decision about requesting the item.