When I checked the Nikon refurb webpage, the first thing I noticed is limited information about what Nikon does to "refurbish" a camera or lens. When you click the ? icon next to the price, a pop-up window appears with this info:
Refurbished Nikon products are restored to factory specifications after thoroughly being tested. They are carefully inspected, cleaned and any defective parts are replaced using genuine Nikon parts.
Warranty information is not prominently displayed. You must scroll to the bottom of the webpage and click the Warranties link:
All refurbished cameras, lenses and accessories include a 90-day limited warranty against defects in material and workmanship. It offers the same coverage as the Nikon Digital Imaging Warranty, just for 90 days instead of one year.
Finally, the discounts aren't much. . .
For example, a refurbished D5 is $6300. A brand new D5 from B&H Photo is $6500. A D500 from Nikon: $1600 B&H: $1800
Thanks, but no thanks. . .
On the Apple refurbished webpage, Apple has this:
Before we put an Apple Certified Refurbished product up for sale, it undergoes a rigorous refurbishment process to make sure it’s up to Apple’s high standards. We back it with our standard one-year limited warranty. And you have the option of purchasing AppleCare to extend your coverage further.
Great... That reassures me that Apple is so confident about the quality of its refurbished products that it not only provides a full one-year warranty, its refurbs also qualify for an additional two-year extended AppleCare policy. That's a full 3 years. And the extended warranty can be purchased anytime within the first year of ownership.
But wait, there's more. . . Click the "refurbished products" link and you get an FAQ. Here is an excerpt:
Frequently Asked Questions:
(1) What are Apple Certified Refurbished Products?
Apple Certified Refurbished Products are pre-owned Apple products that undergo Apple's stringent refurbishment process prior to being offered for sale. While only some units are returned due to technical issues, every unit is evaluated to ensure it meets Apple's quality standards.
Each Apple Certified Refurbished Product:
undergoes full functionality testing and any defective modules identified in testing are replaced.
Apple Watch devices that require replacement parts are not included in the Apple Certified Refurbished Program.
is put through a thorough cleaning process and inspection.
is repackaged (including appropriate manuals, cables, new boxes).
includes either the Operating System originally shipped with the unit or, in some cases, a more recent version.
is placed into a Final QA inspection prior to being added to sellable refurbished stock.
Refurbishment procedures follow the same basic technical guidelines as Apple's Finished Goods testing procedures.
(2) What should I expect when I purchase an Apple Certified Refurbished Product?
Substantial savings
A fully functional unit with complete documentation
The assurance that the unit meets Apple's premiere quality standards, and that its defective components have been replaced by genuine Apple components
The discount on refurbished Apple products depends on a number of factors. The basic discount is 15% but I have seen discounts of 25% and (rarely) higher. (Discontinued models typically have higher discounts.)
Apple refurbs have an excellent reputation. In my personal experience and reading myriad forum comments, Apple refurbs arrive in "like-new" condition. If you don't like what you see, Apple refurbs can be returned within 14 days just like new products. Many Apple aficionados purchase only refurbished Macs.
From what I have read about Nikon refurbs and particularly refurbished items sold by third-party vendors, there are no compelling reasons to go for a refurb. I would buy new or used on eBay, CraigsList or a reputable vendor such as KEH. There are even a few forums that have very good reputations for buying photo gear. But I only buy where I have some buyer protection and I can use a credit card. I put CraigsList on my list because at least I have the opportunity to carefully check-out the item and seller. (I have sold cameras and computers on CL.)
