A guitar doesn't have to cost a bundle to sound good. The GIO series was developed for players who want Ibanez quality in a more affordable package. Not only do they look and play better than everything else in their price range, but their rigorous inspection and set-up is the same as Ibanez's more expensive models.
This is a brand new guitar at a cheaper price because it's a "Factory Second". There's a small ding in the front of the body which prevents this from being sold as Brand New. Fully functional, in perfect shape otherwise, and you save a bit of money.