March 16, 2012 at 1:54 PM ET
Cash is king, except when it comes to iPad 2 trade-ins: If you're want to trade your iPad 2 for the new model, make sure you're getting not only the price you want, but the right form of payment as well.
Prices Friday for the iPad 2, with the new iPad on sale, were ranging from about $200 to $270 for the 16GB Wi-Fi only model in good condition (and prices change literally minute to minute). The high-end 64GB 3G models (AT&T and Verizon) are going for around $350 on Gazelle.
Below you'll get a closer look at 16GB iPad 2 pricing currently being offered by the popular trade-in sites.
But remember to find out in what form your payment will come. Some trade-in sites like Gazelle and NextWorth will pay you cash (via a check), but also give you some other options. Gazelle, for example, can give you an Amazon.com gift card or send the money to your PayPal account if you prefer that instead of a check.
Apple, which has its own trade-in/recycling program, doesn't give you cash; you'll get an Apple gift card -- which is great if you're planning to buy the new iPad or something else from the company. But if you're in a rush, you may want to go another route: the gift card can take time, perhaps weeks, to get.
Amazon, too, takes iPads in trade, and also doesn't do cash. Instead, you get an Amazon.com gift card. At eBay's Instant Sale for electronics trade-ins, there's only one way to get paid, and that's via PayPal.
While prices do change faster than the stock market, Gazelle offers sellers a 30-day, locked-in price. Meanwhile, eBay Instant Sale, as of Friday offering one of the higher prices for the starting-level iPad 2, said it will guarantee its prices through Sunday, March 18.