Excellent: Worn but in excellent condition with no flaws noticed.
Good: Minor wear, not very noticeable or easily repaired or already repaired. But it's ready to wear/pret-a-porter.
Fair: Significant wear which might possibly be repairable. Wearable in condition its in.
Poor: Damaged beyond repair. Use is primarily for design research or editorial use. Not wearable on a day to day basis.