First gen iPads lose 30% of value in 11 months, demand for 16GB WiFi first gen iPad remains strong

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After the iPad 2 was launched last week, thousands of first gen iPad 1 owners flocked to eBay to sell the old version of Apple’s tablet.  However, the increase in supply of first gen iPads sent prices for the device plummeting, and Apple’s steep price cuts on certain first gen iPad models didn’t help much either.

We were wondering how different first gen iPad models maintained their value after the release of the iPad 2, so we looked at some data from eBay, the world’s largest online auction site.  The table above shows the average retail price of various first gen iPad models, between 3/11 and 3/19.  Note that these figures only include auction sales, not Buy It Now sales.  Also, devices sold with accessories such as cases or stands were excluded from these statistics.

On average, auction prices for the first gen iPad were 30.2% lower than retail prices for the device.  That’s a rather steep decline in value, considering the device is only 11 months old.

The 16GB WiFi-only model held its value better than any other first gen iPad model.  Average eBay auction prices for the device were only 26% lower than the device’s original retail price.  338 16GB WiFi-only first gen iPads were auctioned between 3/11 and 3/19, more than any other model of the device.

32GB and 64GB WiFi-only first gen iPads shed 29% and 30% of their value, respectively.  Only 146 64GB WiFi-only first gen iPads were sold between 3/11 and 3/19, the least among the various iPad models.

3G versions of the first gen iPad lost the most value, ranging from a 32% loss for the 16GB 3G first gen iPad to a 34% loss for the 64GB 3G first gen iPad.  Interestingly, the 64GB 3G first gen iPad has the second highest sales volume among first gen iPad models between 3/11 and 3/19.

It’s not surprising that 3G first gen iPads lost more value than WiFi models.  These devices are not only more expensive to purchase, they also require data plans costing $15 to $25 a month.  Apple and AT&T also discounted these models heavily after the iPad 2 launch.

The least expensive 16GB WiFi-only first gen iPad holds its value well due to high demand and a low initial retail price.  The discounts for the 16GB WiFi-only first gen iPad were also generally smaller than the discounts offered for other first gen iPad models.

If you’re not enthusiastic about taking pictures on the iPad, and don’t mind a slightly slower processor, this is a great time to pick up a first gen iPad.  However, first gen iPad prices will likely fall as the availability of the iPad 2 improves, so you may want to wait a few weeks before picking up a first gen iPad on eBay.

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