Refers to a physical object that is scarce or hard to obtain; often used in contexts like collecting, trading, or retail.
This shop deals in rare items.
His collection includes several rare items.
Standard kanji spelling; 希少 is the more common form in modern Japanese.
Alternate spelling using 稀; less common but still seen.
Compound of 希少 (kishō, 'rare, scarce') + 品 (hin, 'article, goods').