Apple Paying Up to $320 in Gift Card Currency for Used iPad Models

Wondering how much your iPad 1 or 2 tablet is worth leading up to the launch of the new iPad tomorrow? Apple not only has an answer, it's willing to take it off your hands in exchange for an Apple Gift Card. It's part of Apple's Reuse and Recycling program, and for owners of an iPad 2 64GB Wi-Fi + 3G, the trade-in value is $320, provided there are no cracks, scratches, water damage, or anything else wrong with the unit.

The trade-in value drops to $80 if the iPad doesn't work or if the battery doesn't fully charge, as well as if it's cracked. If the back is engraved or if the iPad has some light to moderate scratches and scuffs, the value drops to $180, and again we're talking about a top of the line iPad 2 model.

Your iPad 2 could fetch as much as $320 from Apple in Gift Card currency, provided it's in tip top shape.

A first generation iPad device fetches as much as $170 in Apple Gift Card currency. Alternately, you could try your luck at selling your used device on Craigslist or eBay where you're likely to land a little more loot. The same iPad 2 device that trades for $320 through Apple appears to be selling for about $500 to $550 on eBay, minus fees and shipping. If you have the time and gumption, it's the better route.

As you're probably well aware by now, Apple is getting ready to release a new generation iPad device tomorrow at 8 AM. The new iPad has an upgraded Retina Display, A5X processor with quad-core graphics, optional 4G LTE, a bigger battery, and a much improved 5MP rear-facing camera.