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After launching in September last year, the Apple Watch Series 11 and Apple Watch Ultra 3 have finally landed in the tech giant's online refurbished store. But the size of the discounts does feel rather disappointing. A used Series 11, for example, currently starts at $369 for the larger 46mm case, offering only a $60 saving on a brand new one, while a refurbished Ultra 3 starts at $679, marking a $120 discount.

While the modest 15% savings are unlikely to satisfy bargain hunters, it's important to keep in mind what you're getting for your money. For example, Apple Watches in Apple's refurbished store have been thoroughly inspected and cleaned and, if needed, even receive new parts such as a housing. You'll also receive a charging cable and a new product box. However, a new battery isn't guaranteed, although buyers say the watches generally come with 100% battery health. If you decide to buy an Apple Watch from Apple's refurbished store, you'll also get a one-year warranty, just like you do when you buy a new one. Finally, after receiving it, you have the option to return it within two weeks for a full refund.

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It's actually Apple's long-held position to offer up to 15% savings on items in its refurbished store, a reflection of what it considers to be a fair discount based on the factors we've just talked about. It's also worth remembering that while the Apple Watch post-discount price tags may still feel high, they are for the company's newest smartwatches — devices that aren't even a year old yet at the time of writing. Indeed, while the Apple Watch 11 is great, smart money buys the Apple Watch Series 10, which is almost the same in terms of specs, but notably cheaper.

To make those discounts feel a little less underwhelming, take a moment to consider what you could do with the money saved. The $120 you save by buying a refurbished Apple Watch Ultra 3, for example, is almost enough to get yourself a premium watch band, or two years' worth of AppleCare+. The $60 saved by getting a used Apple Watch Series 11, on the other hand, could be spent on various Apple Watch accessories like a stand or a charger. Of course, you could also spend that saved cash on some fun stuff that has nothing to do with Apple!

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There are lots of ways to be frugal when buying electronics, and purchasing used items is a popular option for many people. For a used Apple Watch, you could head to sites like eBay or Facebook Marketplace, though unless you're careful, these can leave you vulnerable to scams.

More promising alternatives include certified refurbished programs operated by the likes of Best Buy and Amazon. Best Buy tests and sanitizes its Apple Watches and won't sell ones with severe cosmetic damage. It's worth noting, though, that it doesn't add a new battery, and nor does its site appear to offer any guarantees about battery health. What you do get, though, is a 90-day warranty. Looking at the current listings, Best Buy has an Apple Watch Series 11 with the larger 46mm case, GPS (no cellular connectivity), and a black sport band for $349, which is $20 less than the equivalent device in Apple's refurbished store. Amazon's refurbished store has an Apple Watch Ultra 2 (no Ultra 3 watches available at the time of writing) with a 49mm black titanium case, and GPS and Cellular, for $495. Apple has the same model in its refurbished store for $589. Amazon's refurbished Apple Watches also come with at least 80% battery capacity and a 90-day replacement or refund guarantee. It's important to ask these things first whenever you buy refurbished tech like an Apple Watch.

Evidently, better prices can be found via third-party sellers, but you trade extras for savings. While it might not add up to much, Apple's 15% discount does offer a replacement case if needed, and a one-year warranty. Third-party options usually offer bigger discounts but come with shorter warranties. So you need to ask yourself: Are the savings worth the trade-offs?