Factory Reconditioned - Bargain or Bum Deal?

I have always known that I LOVE a bargain but lately I have been realizing I have a cap on what I can reasonably spend on items.  Beyond that cap I am almost incapable of making the purchase.

For instance if I am shopping for tops at the mall, my cap is $30.  If the top is less than $20 is is a great deal and I can buy it no problem.  If it is $20-$25 I am pretty much debating in my head whether I will wear it enough to make it worth the money spent.  If it is $25-$30 I will only buy it if I absolutely LOVE the shirt and the quality is excellent so I know it will wear well.  Beyond $30 I will always wait until it goes on sale, because a top is not worth $30 to me.

When I wanted the Dyson vacuum I realized that it was a very expensive purchase and I pretty much wouldn’t buy it without the discount I got from putting it on my registry.  But at one point I had considered buying a refurbished one at Big Lots because of the unbelievable value.

We got a Big Lots near my house about 6 months ago.  I am not a big fan of Big Lots.  It never seems like there is any quality items there and I am not into driving out of my way to save $.50 on a bottle of soap.  But I do peruse the circulars once a week just in case there is something that jumps at me.  I had never noticed before that they sell high end vacuums and steam mops for about half the price.  The catch is that they are “Factory Reconditioned”.

For instance the ad claims that the Shark Steam Mop is normally $99 (no model number listed) and is on sale for $55. But it is “Factory Reconditioned with Manufacturer’s Warranty”.  Can you trust that the product is still reliable?  The warranty makes you feel like it is a better deal but it is a hassle if the thing does break?

In the Big Lots ads I have seen hand-held vacuum cleaners, mops, high end vacuums like the Dyson and electric brooms all at unbelievable prices … but all reconditioned.  So is saving the money up front worth taking a risk that is will break?

Have you bought a “refurbished” or “reconidtioned” item before?  What was your experience?  Do you think taking the risk of buying something refurbished is worth the savings you get in return?