The Boston Business Journal reports that first gen iPads are “flooding” the resale market and prices are tanking as a result.
Before the Pad2 hit stores on March 11, electronics recycler Gazelle.com was offering as much as $530 for an iPad 64GB WiFi + 3G model in excellent condition with the original accessories. Today, the offering price is $328. A 32GB WiFi model in excellent condition was fetching as much as $340 prior to the release of iPad2. Today, the model is worth about $249.
A quick check of Cult of Mac’s local Craiglist, San Francisco Bay Area, shows a few of those 32GB WiFi models listed as low as $220, most in the $400-$500 range.
Does this sound right?
If you sold your iPad, did you get what you thought you would for it?
Nicole Martinelli is a San Francisco freelance writer who heads up Cult of Mac Magazine, our weekly publication available on iTunes. You can find her on Twitter and Google+. If you’re doing something new, cool and Apple-related, email her.
