I bought a "new" 8700G phone on Ebay and it looks in new condition except for a chip on the upper left corner of the case. The battery also looks a bit used, like the sticker is old. I hooked up the phone to a charger and a Red LED comes on for about 3-5 seconds then goes off. The phone seems to keep on charging, but I thought the LED should stay on and turn Green when its finished charging. After leaving the phone on for 6 hours, the phone is only 85% charged. This leads me to believe the battery is defective.

I contacted the Ebay seller and waiting for his reply. I paid $86 shipped. The average price I've researched for a Refurb/used phone is $90-$100.

That sounds normal. With mine, the LED comes on when the battery is dead. Then when it powers on, the LED goes out.