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The Yoyo Factory Thin Yoyo Lubricant is for ball bearing yoyos. Just apply a couple of drops to the bearing, and your yoyo will spin a lot smoother and longer than before.
Remember to buy a yo-yo trick book to carry with you, a yoyo trick DVD for at home, and extra yoyo strings. Learning new tricks makes yoyoing much more fun, and you'll need extra strings, because they wear out with regular use. YoyoFactory long spin lubricant is a high performance lube.