I considered it, but I think an open box item is worth considerably less.

Think of it - if you are spending $1200 on an item, would you want to save $20 on it to get one that who knows who had for who knows how long? I sure wouldn't. You'd probably need to go at least $100 lower before it becomes somewhat appealing.

Bestbuy just charges a 15% restocking fee on all phones returns now if you opened the box. As someone who often has buyers remorse or didn't get an adequate experience in store first I'm completely fine with that.