I bought 2 Polycom IP 5000s on eBay for quite cheap but they were both bricked by the previous owner's phone provider. I found that the reset procedure depends on the current firmware version.
My phones were one each of firmware 3.x and 4.x. My VoIP provider is Ring Central.
For the 3.x phones, when you first power up the device, you need to press the "About" button. It will prompt for a password which will allow you to enter the MAC address in all caps. I'm using a Linksys router. Once that is done I had to configure a static IP address (192.168.1.100), DNS (192.168.1.1), and most importantly, the name of the VoIP configuration server (https://pp.ringcentral.com/pp). It was also important to clear the previous login name and password. The phone then proceeded to reboot and Ring Central's server then proceeded to update the firmware to 4.x and load the correct cfg files. It is not necessary to do either the 4 6 8 * nor 1 3 5 7 routine.
For the other IP 5000 that was already at firmware 4.x, it was necessary to interrupt the boot sequence by holding down 1 3 5 7 and then enter the MAC address again in all capitals. (At that point the password is reset to 4 5 6 but you don't need it) You can then configure the network parameters like use DHCP, VoIP config server, etc. to point to your own VoIP box. Again it is important to clear the login name and password too. Note that in firmware 4.x there are 2 countdown timers: a 10 second one and a 5 second one. Only on the 5 second countdown timer can you do the 1 3 5 7 to enter the MAC address.
If at any point you fail to put it into the low-level configuration mode, the current cfg files will re-brick the phone with the previous VoIP provider's passwords so you have to start over.
I bought 2 Polycom IP 5000s on eBay for quite cheap but they were both bricked by the previous owner's phone provider. I found that the reset procedure depends on the current firmware version.
My phones were one each of firmware 3.x and 4.x. My VoIP provider is Ring Central.
For the 3.x phones, when you first power up the device, you need to press the "About" button. It will prompt for a password which will allow you to enter the MAC address in all caps. I'm using a Linksys router. Once that is done I had to configure a static IP address (192.168.1.100), DNS (192.168.1.1), and most importantly, the name of the VoIP configuration server (https://pp.ringcentral.com/pp). It was also important to clear the previous login name and password. The phone then proceeded to reboot and Ring Central's server then proceeded to update the firmware to 4.x and load the correct cfg files. It is not necessary to do either the 4 6 8 * nor 1 3 5 7 routine.
For the other IP 5000 that was already at firmware 4.x, it was necessary to interrupt the boot sequence by holding down 1 3 5 7 and then enter the MAC address again in all capitals. (At that point the password is reset to 4 5 6 but you don't need it) You can then configure the network parameters like use DHCP, VoIP config server, etc. to point to your own VoIP box. Again it is important to clear the login name and password too. Note that in firmware 4.x there are 2 countdown timers: a 10 second one and a 5 second one. Only on the 5 second countdown timer can you do the 1 3 5 7 to enter the MAC address.
If at any point you fail to put it into the low-level configuration mode, the current cfg files will re-brick the phone with the previous VoIP provider's passwords so you have to start over.