This is Brand New, however, not in the original packaging.
I sold this as Brand New many months ago. It was Brand New, right from the factory. The customer apparently changed their mind about the purchase and decided to return it. However, when they returned it - it came back to me packaged totally different. Probably because it was coming from overseas and it was much cheaper to put it in a smaller box than pay for the larger / better packaged box that comes from the manufacturer... (long arduous story...)
Upon its return I tested it in a DCS-7304 Chassis, and it works fine and still looks like 'Brand New'.
So, I am now selling for almost 1/2 the price as I originally sold it for...