Value of First Generation iPad Quickly Tumbling Down

Ten days before the launch of the iPad 2, our very own Stefani Lain advised first generation iPad owners about to upgrade to the newer tablet to sell their ‘old’ iPad as soon as possible:
Note that many iPad owners will flood eBay with used iPads very soon, so if you’re thinking about buying the iPad 2, you may want to list your first generation iPad on eBay as early as today.
Ten days after the launch, Stefani’s prediction proved to be correct, as the value of the first generation iPad drastically tumbled down in a matter of days. According to bizjournals.com, prior to the release of the iPad 2, electronics recyclers were willing to offer as much as $530 for a 3G-enabled 64 GB first generation iPad, but since last week, recyclers have significantly reduced their offer, as the same device will now be purchased for less than $330 – a loss of value of about 40 percent, in a mere ten days. Similarly, the 32 GB WiFi-only model used to sell for $340, and is now worth about $250. A quick search on eBay also confirmed bizjournals.com‘s numbers, as the WiFi-only 32 GB iPad in mint condition currently sells for less than $230.

So, what to do with your ‘old’ iPad? If you want to make a buck, eBay is still the best option, but be prepared to ship internationally, as only international buyers are willing to pay a premium for the device. Otherwise, you might want to keep it, and make one of your family members a happy camper. Also worth noting, if you’re looking for a decent deal on a new first generation iPad, at&t recently slashed the prices of both 16 GB and 64 GB models (the 32 GB model is out of stock).