The next generation of the iPad is expected to make its debut in early March. According to rumors the iPad 3 will be unveiled on Wednesday, March 7. Whether you want to trade in your iPad 2 for the latest model, or you'd like to use this opportunity to snatch up an older model at a deep discount, there is money to be made and saved for Apple fans.
If you want to sell your iPad 2 as a way to help you pay for the new iPad 3, experts say there's no time like the present. Starting now and running until the iPad 3 announcement, experts predict seeing a steep decline in iPad 2 values. "It will all depend on an individual’s specific situation," says Jeff Trachsel, Chief Marketing Officer at NextWorth. "Do they have an extra iPad? Are they willing to go without one for a while? Do they absolutely have to have the new one in-hand before they will sell? But at the end of the day prices are going to decline, so the sooner you sell the higher the price will be." In short, the longer you hold on to your iPad 2, the less you can expect to fetch for it when you go to trade it in or sell it. The amount you'll receive also depends on the model you own.
If you don't feel inclined to have the newest model of Apple product on the day it comes out, then there are definitely bargains in your future. If you've been holding out, now would be a great time to pick up an iPad 2 secondhand, according to experts. "Prices are most likely going to decline until just after the new iPad hits the market prices will level off," says Trachsel. What's not currently known is whether Apple will continue to manufacture the iPad 2, offering it as a more affordable option. When the iPhone 4s was released, the company continued to sell the iPhone 4 and iPhone 3GS. This could mean used iPad 2's will sell for even less in order to be able to compete with the lower price point of a brand new iPad 2.
Examining Apple Trends
Most of this information is based on what has happened in the past when Apple has launched new products. Data shows that when the newest iPhone launches, there is a 20-25 percent drop in value for the past model during the launch period. Those values then tend to level out. As you can see from the graph to the right, between the time the iPad 2 was announced and it became available for sale, values plunged.
According to NextWorth.com, Wi-Fi-only models can expect to hold up slightly better than Wi-Fi +3G versions. Why? Experts say it's because the secondhand market prefers products that don't have a data plan associated with them. If you are considering trading in your iPad 2 the best thing to do is get a quote now from NextWorth.com. According to the company, quotes are good for 21 days, which means you can keep your old iPad as long as possible. Some of their top tips for getting the most for your model, keep the original box, protect it to prevent scratches, and don't get it personalized. Engraving your iPad can drop the value by about $40.