How much do you expect to save on a refurb?
In general, how much do less than new do you expect a refurbished item to cost? In particular I've been watching prices on 3tb USB hard drives, and the refurbs haven't been coming in that much cheaper lately than the new drives.
For example, there is a listing for a WD refurbished 3tb for $136.99. It's a slightly older model only doing up to USB 2.0. I could also walk in to my local big box retailer and get a WD 3tb with USB3 support, brand new, for $169.99.
To me, a savings of just under 20% - not including shipping - for an older drive doesn't seem to be enough. In my eye a refurb should be 30% off new or better - particularly if the refurb is an older generation than what is available new.