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@nick_h.
I don't know for sure, I would need to check the small print and ask the sellers what they're offering. But I think my one being rebuilt, at a charge of only £200, would probably be just new O rings. Whereas a reconditioned one, at a charge of £600, would be new O rings plus a guarantee of no electrical faults or other things. Perhaps replacement of whatever parts wear the most in a steering pump? I'm just guessing, I have no idea how they work or what tends to go wrong with them.