Variant Price Percentage: This means that whatever you set for Sell Price or Buy Price, you can automatically make other variants a percentage of that price. NM - 100% Damaged - 50% So half of the price.
There are two ways of editing Variant Price Percentages
You can create a default percentage for each variant A. Go to the Category you wish to edit the Variant Price Percentage for B. Click edit next to the Variant
It should look like this:
This allows you to set a default percentage for Sell Price as well as Buy Price
You can also set this Percentage on a per Product basis A. Go to the product that you wish to change B. Click Manage next to the product
It should look like this:
This allows you to edit the Variant Percentage for Sell Price and Buy Price on a per Product basis.