From the Newegg FAQ:
2.2 Q. What is meant by "refurbished"?
A. At Newegg a "refurbished" item is one that was returned by another customer.
Assuming the item does not show too much functionality diminishing damage,
the item will be resold as "refurbished", and a savings of as much as 5-10% will
be passed onto the subsequent purchaser. We cannot guarantee that the
refurbished item will actually work, but it will likely only take you 1-3 hours to
determine if the item actually works. Most of our customers do not have real
jobs, and consider it an excellent deal to save 5-10% (as much as $1-10 or more)
for only 1-3 hours of testing. Of course, if the item does not work, you are welcome
to pack it up securely, head down to the local shipping center, fill out the proper
paperwork and send it back to us, then wait until we receive and process it and
ultimately credit you back the full amount of your purchase minus the cost to you to
ship it back. As our motto goes: "One heck of a deal!"
Kwad