The telephone industry has been "refurbishing" phones for over a hundred years.
When a rental phone was taken out of service, it was disassembled, cleaned and tested, and any substandard parts were replaced; and then the phone went on to a second life, or third life, or fourth life.
In the year of 1954, AT&T refurbished 4.5 million phones!
A good phone can easily be used for 30 years or longer.
New rotary-dial phones are no longer being made, and as New Old Stock phones become scarcer and more expensive, refurbs are a good way to enjoy the look and feel of an older phone, while saving money.
In some cases, you can get a color or style in a Refurbished phone, that's not available in New Old Stock or Nearly New.
ONE YEAR WARRANTY.
Photo from National Library of Australia