Condition can be in the eye of the beholder to some extent, but the following terms are often employed on a relative quality scale from best to worst:

A AEG All edges gilt

B BCE Book Club Ed

C Cf Calf

D DJ Dust Jacket

E Ed Edition/editor

F Facs Facsimile

G Gt Gilt

H HB Hardback

I Imp Imperial

L Lge Large

M Mco Morocco

N Nd No date

O Ob Oblong

P P,pp Pages(s)

Q Qto Quarto

R Rev Signed

S SC Softcover (pbk)

T TEG Top edge gilt

U Unb Unbound

V Vol Volume

W WAF With all faults

"First edition" refers to the first impression of the first edition in the country of origin of the dealer eg. a book may have been published first in the UK but a US dealer will refer to their own country's first and the other as "first UK ed." The term "trade" (ed./pbk) usually refers to a book intended for conventional sale through bookshops rather than via mail order or book club or some other specially printed edition.