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"Investment" is the wrong word, because they will never make money for you.
And it depends on the product. Maybe there is a product that is a piece of crap, like every external video capture device I've ever bought, and somebody returns it because it's complete crap, but it's as good as the day it rolled off the line, so they rebox it and sell it as refurbished. And it's still crap.
I've purchased a refurbished Dell laptop that was very good. It was just off lease.
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