Knife grading is important to help us understand the actual condition of the knives as well as helping to determine fair values. There are different grading systems out there for knives and I learned early on that most, if not all, do Not take the extra considerations needed for switchblades into account. Besides the traits shared with other folding knives, switchblades have a few extra ones related to function such as: Spring strength, Lockup in open position and Peek (blade tip protruding above the liners due to wear in the mechanism). These are the main three considerations unique to switchblade knives. I felt that these extra considerations required extra steps in the grading so I came up with my own grading system which I use to evaluate the knives in the store. The letters used are EX for excellent, VG for Very Good, G for good, F for fair, and P for poor. It's a 20 step system and here's how it goes:
MINT: Just like the day it was made.
NEAR MINT: Practically a new knife with maybe one tiny flaw.
Nearly New: Pretty much like new with one or two tiny flaws that works properly w good lockup.
EX++: Pretty much like new knife with maybe two tiny flaws or one minor flaw that works like new.
EX+: Might have one or two minor flaws, or one more more noticeable flaw including something like lockup not tight as new.
EX: Works properly with two or three minor flaws and possibly less than ideal lockup or tip not deep when closed, .
EX-: Works properly with some minor flaws or one more noticeable flaw including a small crack or blade scratches, safety not working properly.
VG+: Works properly with more noticeable flaws, minor blade loss, possible minor functional issues like slight peek, or looser lockup, or cracks in the handles, blade loss.
VG: Could have minor functional issues, minor flaws, up to 10% blade loss from sharpening, minor rust, cracks or small breaks.
VG-: Bigger functional issues like peek, loose lockup, 15% blade loss, rust/pitting, cracks, chips, weak spring, usually 2 or 3 major issues, but still functions properly.
G+: Usually 3 or 4 more major issues, more than 15% blade loss, short blade, medium rust, pitting, worse peek, very loose lockup (1/8" up and down), but still functions properly.
G: Very noticeable flaws like 20% blade loss, deep pitting or heavy rust, very loose lockup (1/4" up and down, or more), 1/4" peek, damaged handles, but still functions properly.
G-: Functional issues like won't lock open, big blade issues, big scale issues, 25% blade loss or more, very weak spring, probably 2 or 3 big issues.
F+: Basically works, but 2 or more major issues like 30% blade loss, won't lock open, peek over 1/4", missing scale, broken blade, heavy rust/pitting.
F: Basically works, but several major issues like 35% blade loss, broken spring, won't lock open, heavily damaged or missing scale, won't stay closed, at least 3 of these things.
F-: Barely works, with 3 or more major issues, broken spring, broken backspring, missing safety, up to 40% blade loss, won't stay closed.
P+: Not functional, but worth repairing, or 40% blade loss, broken spring, won't lock closed, missing handles, heavy rust. Probably 4 or more issues, or not working.
P: Not functional, maybe worth repairing, 45% blade loss, missing/broken spring, won't lock open or closed, missing button/lever, Rusted shut, etc.
P-: Basically a parts knife that has at least two or three useable parts that could be use to repair another knife probably 50% blade loss, or worse.
Bottom: A knife with condition so bad that it's not repairable and no useable parts, usually rusted shut, or missing blade. Could be framed as art? ;^)