iPad 2 annoucement prompts Apple to offer $100 refund on recent iPad purchases

If you spent the last couple of weeks on an undersea submersible, then you might be forgiven for being unaware of the impending iPad update. And, if you just happened to purchase an iPad upon returning to dry land, perhaps to keep you entertained on your next sub-aquatic adventure, you’re now entitled to a $100 refund, thanks to a new Apple policy.

Steve Jobs did a fine job yesterday of unveiling Apple’s second-generation iPad. In addition to being nearly twice as fast as its predecessor, the iPad 2 will feature back- and front-facing cameras, a (much) slimmer build and a fancy built-in magnetic case. All of that can be yours for the exact same price of the original iPad ($499 for Wi-Fi only mode and up to $829 for a fully-loaded Wi-Fi plus 3G model).

Apple also revealed yesterday that it has lowered the price on the first-generation iPad models by $100 as it seeks to clear out inventory. That would make any new iPad owner feel doubly sheepish about their purchase. Apple, however, is prepared to offer some assistance. Anyone who purchased an iPad within the 14-day return window can be reimbursed for the difference in price by way of a $100 refund. Or, we suppose, customers can elect to just return the whole thing and wait for the launch of the iPad 2 on March 11. Just be sure to take along your receipt.

If you purchased a new iPad, say 15 days ago, and are already feeling like its looking fat and ugly compared to the iPad 2, then your best bet is to try and unload it on eBay or Craigslist — just don’t expect top dollar. A quick check of the electronics reseller Gazelle reveals iPads in pristine condition are fetching $300. According to Wired, an iPad in the same condition was going for $375 just before the iPad 2 was announced. Gazelle reportedly purchased over 2,000 used iPads within an hour of Job’s iPad 2 presentation yesterday. Compare that the the 1,400 iPhones the site bought up in the entire first day after the iPhone 4 was revealed.

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