'previously-owned' originates from the combination of 'previously' and 'owned', where 'previously' is derived from Latin 'praevius', meaning 'going before', and 'owned' is the past participle of 'own', from Old English 'āgen', meaning 'to possess'.

'previously-owned' evolved from the concept of 'owning' something that was 'previously' in possession of another, forming a compound adjective in modern English.

Initially, it meant 'something that was owned before', and this meaning has largely remained the same in modern usage.