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I see refurbished Ti Powerbooks at the Apple online store. Are these books ones people have traded in? What kinda shape are they after refurbishement? What about cosmetically; paint chips, scratches etc?
Refurbished means brought back to new condition, and resold. Generally they are ones that are returned with a defect. Instead of pitching it, they fix it, and resell. They also are covered under the same 1 year warranty.