>I imagine it's legally risky to buy a large quantity, test it, and then resell smaller quantities
It is illegal, but it doesn't stop people from doing it. In fact, if you don't have any sort of test results for your peptides people will absolutely avoid buying your wares until you have them. Purity and mg/ml are the 2 basic test results that any shop worth their stuff will have.
To be fair, most everyone I know who is buying on the gray market considers vendor tests to be minimally required, but still insufficient -- there is no assurance they tested the product they shipped to you. Plan on testing it yourself. I'm sure some people do trust nexaph enough, though, to not worry so much. Whether that trust is well placed, that is a separate discussion.