I think you can do better than the prices on Apple’s refurbished site. Just looked on their site and the 45mm SS is $469 and the 41MM SS is $429.
For comparison sake, I just bought my GF a ”new” S7 41MM SS Graphite for $299 (Directly from Walmart…an Apple Authorized Dealer)….1 month ago. It was a deal I spotted on “Slickdeals” and they were sold out in about a day.
Since we’re so close to Black Friday, I’d suggest “stalking” the deals for a couple of months and maybe you can get a new SS S7 or SS S8 at a price much lower than Apple’s refurb’s….or an aluminum S8 at a huge discount.