Owners of the first-gen iPad are rushing to sell their tablets, according to online gadget-buyer Gazelle. In the hour after the new iPad 2 was announced yesterday, the company bought more than 2,000 used iPads. This compares to 1,200 iPhones that Gazelle bought during the entire first day after the iPhone 4 was announced last summer.

Clearly the new iPad's features –- a thinner, lighter body and a pair of cameras – are enough to make people want to ditch their ugly, fat old iPads and upgrade to the newer model.

Gazelle buys pretty much any used gadget. You answer a few questions on the site about its condition, and whether it still has its cables and charger, and Gazelle will give you a price. If you agree, the company sends you a box, and you send it back with the gadget inside. Your gadget is checked, and you get the money. Gazelle sells stuff on its Ebay store.

Yesterday, before the gold rush, these were the iPad prices, which I received in an e-mail from Gazelle:

__ 16-GB Wi-Fi: $375__

16-GB Wi-Fi+3G: $446

32-GB Wi-Fi: $437

32-GB Wi-Fi+3G: $522

64-GB Wi-Fi: $463

64-GB Wi-Fi+3G: $595

Now, thanks to a glut of sellers, those prices have dropped. Today, your 16-GB Wi-Fi iPad will get you just $300. I ran my 64-GB Wi-Fi+3G through the Gazelle estimate-ometer and it will get me $510. These drops are made worse by the fact that Apple has knocked $100 off the price of the original iPad to keep them selling until the new models ship.

Will I be buying the new iPad? Probably. I'm rather taken by the fancy new magnetic case, and the cameras, despite being less than a single measly megapixel, are going to be great for taking notes and calling my parents. It's just a shame that the Boston-based Gazelle won't accept items from overseas.

Gazelle [Gazelle]

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