Grading any item is so subjective, and there are many standards to go by. I use Goldmine standards for recorded media:
360001566193-How-To-Grade-Items
For vinyl, I don't use "Like New." I will use Near Mint (NM) instead, but there are so few records I've ever come across that are NM, let alone M(int.) Vinyl is so variable in terms of what you get right out of a sealed package. I've seen vinyl right out of the shrink wrap with pressing artifacts, fingerprints, hairline scratches and mold release compounds all over it such that I'd grade it no better than VG. For NM under my grading, it has to have: NO defects at all on the outer cardboard sleeve (one minuscule corner ding might be OK if noted in defects,) no defects or wrinkles on the inner sleeve, never-been-touched inlay (or handled with white gloves,) and certainly no artifacts or visible imperfections on the vinyl, period. The glossiness of the record should nearly blind you, the label is perfectly on-center with a pretty spindle hole, the record is pressed perfectly in round, there is not even a slight warp or bump (the tonearm should stay completely still while tracking,) and so on. Preferably, it's never had a stylus dragged through it. I've seen only about 4-5 examples of this high of a grade of vinyl in my lifetime and I've been spinning since I was very young. Most vinyl that I see, even straight out of the shrink wrap, is typically VG+.
CDs are a little easier. NM means no imperfections on the disc, period, no scuffs on the jewel case, the booklet has never been removed or touched (or has no imperfections or fingerprints.). Most CDs right out of the shrink wrap do meet NM condition, but few used discs I come across meet this standard, most are, as with vinyl, VG+. Those I've opened but never played, I will list as NM as long as the booklet and case are perfect.
eBay says, for Movies & TV, Music, Video Games:
- Like new: The item looks as if it were just taken out of shrink wrap. It has no visible wear, and all facets of the item are flawless and intact. See the seller's listing for full details and a description of any imperfections.
To me, that means not even the outer case, even though replaceable, has any marks on it whatsoever, so unless it was just removed from the shrink wrap, I don't use this condition due to the words "all facets," and "flawless."
Then, things get crazy for other categories, like stamps, coins, books all have their own set of grading standards.
