Well, realize first that it is a refurbished product. It might have been simply returned because someone didn't like it or it could have been defective in some manner and had been repaired. Or, the third possibility is that it had some kind of blemish on it (a scrape or ding) that keeps it from going out as a new product.
That being said, a quick check of Pricewatch shows that JustDeals.com has it for $29 (thought their own website says $39).
Edge Micro lists it at $48 brand new.
So, all in all, not a bad deal. But not worth the $3 it would cost to buy it new IMO.