iPad resales surge over 1000%

“As soon as Apple unveiled the iPad mini Tuesday, the first thing many consumers did was sell their old iPads,” Quentin Fottrell reports for MarketWatch.

“Two major resale sites reported eye-popping surges in business in the run-up to the iPad Mini launch,” Fottrell reports. “Some 140,000 devices were put up for sale on Gazelle.com Tuesday – a 700% spike from the day before, says Anthony Scarsella, chief gadget officer at the site. Half of that increase occurred in the hours just before the announcement, he says – and the most common model put up for sale was the ‘new iPad’ released just six months ago.”

Fottrell reports, “Another resale site, NextWorth.com , reported that trade-ins for iPads rose over 1,000% on Tuesday. (Nextworth declined to release actual numbers.) Gazelle and Nextworth are two of the biggest reselling portals, but industry experts say they represent only a small percentage of total trade-in traffic.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “David E.” for the heads up.]

18 Comments

    1. Yeah, I’m thinking this is people dumping their “outdated” 3rd generation iPads to get 4th gen ones more than people running from the full sized to the Minis…

    1. Yeah seriously, people are insane to sell for those prices. You’d do MUCH better in the private market.

      Just for grins, I went and checked on my WiFi 32GB, and they offered $350. They are going for $500 – $600 all day long on eBay.

      I have no interest in selling.

      1. This is similar to trading in a car when you buy a new one at the dealer. You would get far more selling it privately, but have more hassle if trying to sell to complete strangers. Selling to the dealer eliminates most of that, and obviously lots of people do exactly that knowing they’re losing out on hundreds to thousands of dollars.

        Same thing here: eBay? Unless you’re re-selling it in-town, you have to pay for shipping, there’s risk of fraudulent claims of no-delivery, etc. There’s a rating system to mitigate this, but like Paypal itself it’s not perfect and can be gamed.

        So I can see why some (many?) people just go with a trusted resale company, even if they’re losing out on some coin.

        Remember what some MDN posters say: apparently, “real” Apple product users don’t care about money, so losing out on a couple hundred dollars shouldn’t faze users using resale sites 🙂

      2. I don’t understand why people use these sites like Gazelle.com instead of eBay anyway when you can easily make more money off of an eBay sale. I sold my old iPhone 2G on eBay after I bought my 4S and sold it for about $130, more than twice what Gazelle offered.

    2. My 16Gb iPad 3 WiFi + Verizon 4G (LTE) went on a BUY IT NOW Monday night for $650. I threw in the smart cover I had for it as well to “sweeten” the deal. The trick to getting high dollars for your Apple Tech is to sell it the night before the Events. If you wait until after the Event … it’s too late.

      I’m intending to replace the iPad 3 with a 32Gb iPad mini WiFi only model in the morning.

  1. I was going to”iCal” some of the “analysts” comments on how poorly the iPad mini would be accepted but why bother? Due to the spike in the secondary market the truth is becoming obvious before the end of the day. How do these analysts keep their paychecks? Their bosses must be dumber than they are.

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