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Chiming in to say that I've also bought a used refurb 1st gen Kobo Aura off of eBay. It was my first Kobo and it worked perfectly right out of the box. That was more than 2 years ago. I just updated the firmware on it and it still works like a champ.
The only reason I'm not using it anymore is because I went and bought a Clara HD. I'm selling this old one to a friend who's never used ereaders before.
I don't think there's an obvious downside to buying used or refurb on eBay (as long as you buy from an established seller). These devices are pretty hardy in my experience and they're great starter ereaders for someone new to these things.
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