iPad trade in value for Apple iPad 2, market explosion

 

By Posted 4 Mar 2011, 11:53

Sales of the iPad 2 are predicted to far out strip those of the original device, and if the trade-in activity of the old model is anything to go by, the sales are indeed going to be massive.

Christina Warren over at Mashable is reporting that trade-in programs by eBay, Gazelle and NextWorth have all seen a big surge in user interest. Gazelle were promoting its buyback rates for the iPad 1, but they were met with a bigger than expected take up so had to change its rates. This was coupled with Apple dropping the price for the first iPad by $100.

Also See: Sainsbury’s entice iPad on August UK Bank Holiday

According to Kristina Kennedy from Gazelle they saw over 2,500 iPad trades on Wednesday alone, paying out more than $1 million. Yesterday afternoon there were over 1,000 trades, with over 2,000 expected for the whole day. Previously trade-in volume on the site has been an accurate guide for sales of a new product, but the iPad has exceeded expectations.

When Apple announced the iPhone 4 Gazelle saw around 1,200 iPhone models traded on the first day, iPad trade-ins were almost double that. NextWorth who have a partnership with Target stores has also seen a massive amount of original iPads traded.

Both the sites are saying that the 16GB Wi-Fi version of the original iPad is the most popular unit to be traded in. Meanwhile the 64GB iPad 3G are trading for around $500. Market prices for the iPad 1 are believed to have leveled off, but another dip is expected after the iPad 2 comes out on the 11th.

Many people who recently purchased an iPad will be happy with the refund that Apple is offering, and many were probably aware of an upcoming new version. If you don’t already own an iPad and can make do with the original, there will be some good bargains out there.

Will you trade your old iPad?