In a follow-up to the iPad post I made last night, it’s worth noting that if you’re interested in picking up last year’s model of iPad, this is a pretty good time to do it. USA Today reports that gadget reseller Gazelle, which pays 70-75% of purchase price for a “like new” device, got so many trade-ins of the older model it had to lower its trade-in offer within hours.

Gazelle tells us that typically, a large number of device trade-ins in one day will drive prices down 3-5 days later. These market forces were perceptible with the iPad within hours. Gazelle estimates that in the first hour after the iPad 2 keynote, more than 2,000 individuals visited the site and started the trade-in process. Yesterday, the day before the keynote, only ten iPad units were submitted for trade-in the entire day.

It’s worth noting that there will likely be scads of the older models on eBay, Craigslist, etc. right now selling for a couple hundred bucks less than new. You don’t get Applecare with those so caveat emptor, but it’s a bargain if you’re hunting one.

And people who buy a new iPad now might want to take care to keep all the original accessories safe and keep the iPad in “like-new” condition—so they can sell it off to Gazelle as soon as the date is set for the next iPad launch. The early bird gets the worm.

In a related note, Apple is offering its usual $100 refund to those who purchased an iPad in the two weeks before yesterday’s announcement, in keeping with the device’s new price drop.


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