what condition would you expect a "factory return" item to be in? like say you're buying a reel and the description says "used, excellent condition. factory return"

 

I guess my main question is why are items returned to the factory?

Most likely means that someone bought the item new. It didn't work/was broken/something was missing/etc..., so they had to return it to the factory. The factory most likely kept the faulty reel, and sent the customer a brand new reel. The factory then likely "fixed" whatever was wrong with the faulty reel that was sent in, and now, someone like yourself is looking to buy that "factory return" reel.

Maybe he had it refurbished?

Most likely means that someone bought the item new. It didn't work/was broken/something was missing/etc..., so they had to return it to the factory. The factory most likely kept the faulty reel, and sent the customer a brand new reel. The factory then likely "fixed" whatever was wrong with the faulty reel that was sent in, and now, someone like yourself is looking to buy that "factory return" reel.

makes perfect sence. thanks