The clear advantage of lake balls is this price factor - you can expect discounts of over 50% on their new equivalents - especially good when the fact that most lake golf balls have only been hit 1-2 times is also taken into account!
Lake golf balls are, in terms of performance, almost identical to new golf balls. Sitting in water for periods of less than 3 months does nothing to affect the ball physically, although most lake balls are dredged from lakes at one-monthly intervals so there is no cause for concern in terms of water damage.
Due to their nature as used/recycled golf balls, some do perform less well, but most lake golf ball retailers (including Best4Balls.com for example), will have a quality-control system that removes golf balls with such damage from ever being re-sold. These damaged balls are usually destroyed and recycled. Many retailers of lake golf balls will also grade them. This means that there are different quality levels that balls are categorised into. The terms used in the trade are "Pearl" (mint condition), "Grade A" (small, almost un-noticeable scratches), "Grade B" (small amounts of surface damage), and "Grade C" (noticeable damage on the outer cover and possibly internally".
Don't get lake golf balls confused with refinished golf balls!
To read about refinished golf balls, click here: Refinished Golf Balls.