Unless the seller claims to have honed the razor themself (or had it done professionally) I usually take it to mean "razor is pretty sharp". Either way, I'm skeptical unless it is a member here I trust. I'm usually very conservative in describing razors I've honed myself. I had a razor that shaved well, but when a mentor evaluated my work he said the heel needed work.
Examples of descriptions I've seen
"Pristine" - razor had very noticeable amount of black rust
"Never been honed" - ton of hone wear on spine
"BNIB" - used razor with busted handle and wrong box
"No damage" - huge chip in edge