Introduction:
We are always looking for new ways to save on the bigger purchase - irrespective of whether this is a new PC or notebook, a digital camera, or a big screen LCD HDTV for the living-room entertainment area.
Seasonal and clearance sales are always on the agenda of bargain hunters, but there is a further option - that of buying refurnished products. For example, a refurbished LCD TV may sell online for anything from 50% to 70% of its retail price.
Still, even at these big savings, it is not easy to get someone to buy a refurbished product for the first time.
To the uninformed, buying a refurbished product may seem like a compromise; it is as if buying a car with dents and scratches on the paintwork, or unknown problems with the mechanics. However, in the electronics world, things are somewhat different. It is unfortunate that to many, it is not so obvious what the tag 'refurbished electronics' does actually mean.
Refurbished electronics can be either third-part refurbs or manufacturer (factory) refurbs. Third-party refurbs offer greater savings and do come with a warranty but it is only factory refurbished electronics that come with a manufacturer warranty. For the smart shopper, buying factory refurbished electronics is a way to enjoy substantial discounts and still have a product that is essentially 'like new', but...
You need to exercise constant vigilance when buying refurbished electronics.
This is only possible if you have a thorough understanding of what the 'refurbished' tag, once assigned to a product, implies in the electronics world.
What 'refurbished' products are not?
Before we delve further into what may qualify as refurbished electronics, it is important to get a clear understanding of what cannot be labeled as 'refurbished'. In particular, there is the misconception that 'refurbished' and reconditioned' are the same.
A refurbished product may or may not have been installed, repaired, or slightly used for reasons given further on in this article. On the other hand, a reconditioned item is a used product, that may have been used for an extended period by a first owner - often under lease - but then was repaired (not necessarily by the manufacturer), and resold by a retailer.
'Used' re-conditioned products represent greater savings over refurb units as these sell cheaper, but then such products constitute a higher risk. This risk is even more pronounced when dealing with expensive electronic products such as rear projection TVs, home theater projectors, flat-panel HDTV sets and the like. You can never really tell what has been the impact on the aging of the respective electronic components inside the unit as a result of the previous use.
We say: Be wary of such products. Instead, if you are after a smart buy and a great bargain, opt only for 'factory certified' refurbished products. These still represent substantial savings over the normal retail price, and carry a manufacturer's warranty.
So... what qualifies as 'Refurbished Electronics'?
In general, refurbished electronics are items that were returned for one reason or another, to the manufacturer. These items are then re-tested at the factory to make sure they are in tip-top shape. Any defective or damaged parts - if need be - will be replaced in order to restore the product to its original specification, and then the product is repackaged 'like new'.
Consumer laws prevent manufacturers from selling anything considered factory refurbished electronics as 'new' since the original factory seal has been broken; hence these items are sold as 'refurbished products' often at deeply discounted prices.
More specifically, reasons for returns include:
Customer Return: Most major retailers offer a 30-day money back guarantee; during this period, a customer may return the product for whatever reason and still get full refund. If there is nothing wrong with the product, most stores will simple reduce the price and resell it as an 'open box' special. However, if there is some sort of defect, the product is returned to the manufacturer were it is inspected and/or repaired, and then repackaged for sale as a refurbished item.
Shipping and Exterior Damage: These include damaged packaging due to mishandling, the elements, etc., in which case the product itself may be perfectly fine. These may also include minor damage to the product exterior casing, such as dents, scratches, etc., and any other exterior damage that in it self would not affect the product performance. Retailers would normally return these products to the manufacturer. The manufacturer would then inspect the product, replace any damaged casing, etc., and then repackage the item just like new. However, these items cannot be sold as new; hence they are tagged as refurbished electronics.
Demonstration Units: Sometimes demonstration units at major retail stores, trade shows, and even returned items by product reviewers, are often returned to the manufacturer where they are inspected and/or repaired if needed, and repackaged as refurbished units.
Opened Box: Sometimes, if a box was simply opened, the item is returned to the manufacturer where it is re-tested and repackaged. Even though technically, there is no issue here, yet the item cannot be classified as new; instead, it will have to be sold as refurbished electronics.
Defect during Production: If a specific component is identified as defective once the product leaves the factory - say as a result of an abnormal number of customer returns during the warranty period, a manufacturer may recall a product from a specific batch or production run that exhibits the same defect. When this occurs, the manufacturer can repair all the defective units and send them back out to retailers for sale as refurbished units.
Overstock Items: While most retailers with an overstock of a particular item would simply reduce the price and put the item on sale for clearance, yet there are instances when a manufacturer wants to introduce a new model on the market at a time when there are still a substantial number of older models on stores shelves. In these circumstances, the manufacturer may opt to collect any remaining stock of the older model and redistribute them to specific refurb retailers for quick clearance. Overstock items are brand new items; these can be sold either as a 'special promos' for quick clearance, or can be labeled as refurbished electronics and sold at deep discounts.
To strike the best deal, you have to act fast, but not too fast!
Fast... because when it comes to refurbished electronics, you cannot expect to simply walk into a store and pick up your favorite refurbished LCD TV or plasma unit off the shelf. Major refurb retailers like Second Act, work with manufacturers and distributors to acquire as many products as possible, yet the quantity they acquire can vary from just a few units to a couple of hundred units. In other words, you never really know how long they will last, and at the big savings associated with refurbished products, inventory levels change all the time. Additionally, you never really know if a particular model will be available as refurbished item.
But... do not just jump on the first deal. Act too quick and you may equally miss on the right deal. Act only when you feel you have got the right product at the right price. Once you think you have found what you want, then it is time to check with the retailer about return policies and warranty issues. If the refurbish item is factory-refurbished and comes with a full manufacturer warranty, then it is time to act!
Finally, remember: Purchasing a refurbished item can be a great way to a smart buy. There is no reason why the 'refurbished' tag should lead to a negative connotation to the product under consideration. At the same time, it is important that you inspect the product yourself within the return policy period. This is especially important since with refurbished electronics, you are getting a bit of a hit on product warranty in that you are only getting a typical 90 days warranty against the one year or so associated with standard products.
Happy bargain hunting!
This article is an excerpt from a detailed informative guide appearing on Practical-Home-Theater-Guide.COM, and that discusses at greater length the issue of 'Buying Refurbished Electronics'. It provides additional tips and advice that should help you transform the risk into a great buy - one that results in a big reduction in price. This additional information should also prove useful especially when buying online.
Article Source: http://EzineArticles.com/?expert=Andrew_Ghigo
