iPad 1 Sell-Off Rate Indicates High Sales for New Model

Thousands of first generation iPad owners in the US are eager to sell their tablet device and buy the newer iPad 2, which was unveiled by Apple CEO Steve Jobs a few days ago.

According to Computer World, gadget buy-back company Gazelle has been experiencing that consumers were in a hurry to dump their old iPads in order to get their hands on the latest one.

Gazelle touts itself as a reCommerce platform that lets users sell their old and used gadgets. The company, which accepts 250,000 categories of gadgets, sells the used ones to wholesalers or recycles them.

Kristina Kennedy, Gazelle's director of brand and communications, told Computer World that the high iPad 1 sell off rates mean that Apple has another blockbuster product in its hands. "This is a very good indicator that the company will sell a lot of iPad 2s," she stated.

She also revealed that more consumers had sold their iPads in a single hour, than the number of iPhone owners who had sold their smartphones on the day Apple released the iPhone 4.

“Last summer, we only did about 1,200 iPhones the day of the [iPhone 4] announcement. We had more than 2,000 iPads in just over an hour Wednesday. This was our biggest trade-in for a single product ever,” she said.