New, never mounted. Here's the description straight from the horses mouth.
VO Polyvalent Crankset
The wide range Polyvalent crank has 46/30 rings and comes with a high polish alloy chainring guard. The 46/30 rings give almost the range of a triple when used with a wide cassette, while the chainring guard helps keep your pants clean. This is a great crank for city bikes and utility bikes.
If you live in a place that's not desperatly hilly, you can stay in the 46t ring for most of your riding. When you do encounter a steep hill, or tow a trailer, you can leave the chain on the 30t ring. You do less shifting of the front derailleur, but you have almost the range of a touring triple should you need it.
The 46t ring is specially designed to shift properly in the middle position. A regular 46 outer ring won't work because it's spaced for the outer position mounting. The chainring guard is machined to match the shape of the rings, making a very pretty 3-D pattern.
Weight is 770g and q-factor is 158mm. Machined alloy dust caps and BB bolts are included. Use a 118mm bottom bracket, standard JIS-taper. Some MTB or touring frames with wide chainstays may require a wider BB. 6-10 speed compatible.