We are always looking for a bargain. It is hard to resist After-Holiday, End-of-Year and Spring Clearance sales. Another way to save money all year round is to buy refurbished products.

When most of us think of a refurbished item, such as a cell phone or iPad, we think of something that has been opened, taken apart, and rebuilt, such as an automatic transmission that has been rebuilt. In the electronics world, however, it is not clear what the term “refurbished” means to the consumer.

An audio or video component can be classified as reconditioned if it meets ONE of the following criteria:

Most major retailers have a 30-day return policy on their products, and many consumers return products within that time period for whatever reason. Typically, if there is nothing wrong with the product, stores will discount the price and sell it as an open box special. However, if there is a defect in the product, many stores have agreements to return the product to the manufacturer, where it will be inspected and/or repaired, and then repackaged for sale as a refurbished item.