March 7, 2012 at 3:41 PM ET
If you're looking to trade your iPad 2 in, prices for the base model -- 16 GB with Wi-Fi only -- were ranging from about $180 to $280 on Wednesday by various websites after Apple's announcement of the new iPad.
Apple said it will sell a new 16 GB Wi-Fi only version of the iPad 2 for $399, as long as they are available. That's a $100 drop from the original price.
The new iPad will be in stores March 16, and the starting version will cost $499.
Business for iPad 2s was brisk Wednesday at well-known trade-in sites Gazelle and NextWorth.
Gazelle chief gadget officer Anthony Scarsella said the site saw a 400 percent increase in trades Wednesday over the day before, and "so far we have presented over 45,000 iPad trades to Apple upgraders since the announcement" of the new iPad.
At Gazelle, a 16GB, Wi-Fi only iPad 2 in "good" condition -- "works great but has some scratches or signs of wear" was bringing sellers $180. One in "flawless" condition -- "no noticeable flaws, still in its package or looks like new; has zero scratches; has no dust under the glass" -- will net sellers $20 more.
At NextWorth, sellers can get $278 for a 16 GB, Wi-Fi only iPad in "good" condition, and $291.89 if it's in "like new" shape. One that's only in "fair" condition -- will bring $178.
Todd Witkemper, of eBay Instant Sale, said between now and Saturday, March 10, eBay will pay a bit more, $290 for the starting model of the iPad 2.
"After locking-in their trade-in offer, customers don’t have to ship their tablet for trade until March 20, so they won’t go 'tablet-less' before the new iPad is available on March 16," he said in an email.
Abt Electronics was showing trade-in prices of $163.63 for a base iPad in "good" condition (defined as "minor scratches without scuffs and/or dents), and $192.50 for one in "excellent" condition ("looks new like it just came out of the box").
(If you're wondering why iPhone trade-ins go for higher dollars, as a rule, msnbc.com's Wilson Rothman points out that at least in the U.S., "subsidized smartphones resell for close to original with-contract sale price," while there are no subsidies built into iPads sales prices.)
Prices are expected to change from literally moment to moment, depending on demand for the iPad 2, and the number of existing iPad 2 owners who want to trade their tablets in order to have money toward the new iPad.
Prices "will quickly start to downward spiral soon after the (March 7) announcement," Scarsella told msnbc.com last week. (Gazelle does offer a 30-day "lock" on the price it quotes you.)
If you want to check out other sites that will buy your iPad, consider Best Buy, Radio Shack and CExchange.com.
Even Amazon.com, which makes the iPad's nearest rival, the Kindle Fire, will take your iPad 2 in trade (and you can get cash, not a Kindle Fire, for it).