Jerry Litynski , Jul 21, 2003; 09:00 a.m.
It depends. If it is a Nikon 'refurb' chances are nothing is wrong with it -- a warranty is provided if a problem arises. Once I sent in a SB-24 speedlight for repair, Nikon returned a 'refurb' SB-24 that worked like a new one. The cost was less than a new one and they kept the old unit sent in for a fix. Some 'refurb' units may have been salesman samples checked over and re-boxed. Some are items that folks return for lack of reading and understanding the instruction manual.