There isn't a "Sold Out" status for Products but you have 3 options to display them as such:
- Hide Product by setting it to Inactive
- Set up Inventory and make sure that Available count is 0 or negative
- Use Label in Presentation
If your goal is to hide a Product so buyers can't order it, the best way to do this is to set it to Inactive.
When a Product is Inactive and in a Presentation, it will be shown as a faded tile. You can leave the Product in the Presentation in case you'd like to set it back to Active later.
See Set a Product to Inactive for more info.
Set up Inventory
If you want to display an "Out of Stock" button in place of the Order button on a Presentation, it will let Buyers see the Product but not be able to order it.
Make sure that the Product has an Available Inventory count of 0 or less and it will display as "Out of Stock" automatically.
Use Label in Presentation
To add a small label in the corner of the Product Tile while allowing Buyers to add it to the Order, you can use a Custom Label in the Presentation and enter text to mark it as "Sold Out."
See Add a Label (New, Sale, or Custom) to your Products in a Presentation for more info.