Refurbished electronics are devices that have been used by a previous owner before being traded in to be tested, repaired and sold again. There are all kinds of refurbished electronics including refurbished Apple MacBooks and refurbished iPhones and there are all kinds of reasons why a product may end up being refurbished.
In many cases, the original owner of the device may have just decided that it was time for an upgrade. Alternatively, the device may have been used as a demo unit in a store and needed to be refurbished before going on sale.
Either way, refurbished electronics are good news for those looking to save money. Refurbished tech is typically a lot cheaper than their brand new counterparts and it’s this cost-friendly factor that has helped the refurbished industry to grow at a rapid pace. A recent report by Market Research Reports suggests that the refurbished market will be worth $12 billion in 2025. But how can you take advantage of this growing trend and the potential savings being offered? Read on and find out.
Why Are Refurbished Products So Cheap?
When buying refurbished electronics, you can potentially save hundreds or even thousands of dollars when compared to the brand new RRP (recommended retail price). For example, you can pick up a refurbished iPhone 8 64GB for as little as $540. Compared to the retail price of the phone ($699), the refurbished version of the iPhone 8 is a 23% saving. This is a total steal, especially considering that the phone was only released in 2017, less than one short year ago.
But just because refurbished tech is more affordable, that doesn’t make it any poorer in terms of quality. Rather, this article from Belle News explains, retailers sell refurbished phones “at a lower price so that the returned handset doesn’t just languish on the shelves of its store room.” Moreover, demand will shift as new iPhones and MacBooks are released and selling them as refurbished gives you access to a reasonably priced device while a retailer won’t have to cut its losses by just disposing of unwanted used (non-refurbished) handsets. It’s a win-win.
High Quality Tech Without the High Prices
One of the most valuable reasons to buy refurbished products (besides the cost savings) is that they can be a smart way to access high quality tech without paying high prices. Apple products especially are renowned for their quality, but they’re also known for costing a lot of money. This means that getting your hands on that impressive screen, touch bar, new keyboard or powerful processor will cost you a month’s wages if not more.
But this is only if you buy brand new and buying refurbished cuts the cost of high quality devices substantially. You need only look at the refurbished MacBook Pro 13 as an example of this. The MacBook Pro is a premium laptop, combining portability with power, offering as much as 16GB of RAM, up to 1TB hard drive and advanced graphics technology that looks phenomenal on the retina screen. And yet, refurbished models of this laptop start at just $835 which is a saving of $464 (36% off of the RRP), making it far more affordable than buying one right off the shelf.
How to Get the Best Price on Refurbished Electronics
As the refurbished electronic market expands, more retailers are getting involved and these all offer different savings on the refurbished products you want. So, you’ll want to take a look around and do your research. For example, if you want to get a refurbished MacBook, you can read this list of places where you can buy a refurbished MacBook. That list includes reputable retailers such as Amazon and even Apple itself, alongside reviews of these retailers’ prices, warranty deals and even the testing process that the refurbished products go through.
It’s also important to act quickly as the best deals are prone to selling out fast. As the data from Market Research Reports highlights, more and more people are considering buying refurbished electronics and that means that savings may be snapped up in the time it takes you to find them. Platforms such as RefurbMe make it easier to track prices and receive alerts, though, and new offers and price drops are added regularly. So even if you miss out on the deal on the product you really want, you aren’t totally out of luck.