Report: iPad trade-ins soar 500 percent since iPad mini announcement, a website service that allows you to find the best buy-back deal for your phone or tablet, released new statistics about tablet trade-ins. It particularly revolves around Apple’s recent unveiling of the fourth-generation iPad and new iPad mini. Since that announcement, it turns out iPad trade-ins have skyrocketed up 500 percent.

The Apple iPad makes up 76 percent of all tablets traded in, making it the most popular tablet to be traded in. In second place is somewhat unsurprisingly the BlackBerry PlayBook with 10 percent of the share, and the Samsung Galaxy Tab claims 7 percent of all trade-ins. The single most recycled tablet is the Apple iPad 2 with WiFi and 64GB of storage. It has a trade-in price range of $110 to $145.

SellCell warns that if you want to trade in an old gadget, it’s better to do so now rather than later to get the most bang for your buck. The iPad mini announcement alone dropped the value of used iPads on average between 25 and 30 percent. The same trend typically happens right before major iPhone launches as well.

“Over the past few years, we’ve seen a steady increase in the number of people looking to recycle their old mobiles – particularly when a new handset is released,” said Colin White, managing director of SellCell and SellMyMobile. “But whereas before people would hang on to their tablets longer, high profile launches like the Apple iPad, Google Nexus 10 and Microsoft Surface mean that we’re now seeing this trend move to the tablet industry.”

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