lol not quite. Refurb means fixed by the factory.
For example. You buy a brand new laptop computer. The usb ports don't work. You call up the company, tell them the ports don't work, and then you send them back the laptop. They send you a brand new one. They take the broken one, replace the USB ports, and then sell it as "refurbished." Refurbished basically means that one or more components of a brand new item did not work, so the original manufacturer replaced the faulty parts.