Well, we warned you to sell your iPad before today’s massive Apple event. And did you?

Apparently not, according to gadget re-seller Gazelle, which has seen a massive 700 percent jump in iPad trade-ins just today.

“Since the Apple event this afternoon, we’ve seen the number of iPad trade-ins take off,” Anthony Scarsella, Gazelle’s Chief Gadget Officer, told VentureBeat. “Unexpectedly, the most popular model being traded in right now is the iPad 3 32GB wifi, which we’re attributing to the announcement of a new, 4th generation iPad.”

A full 70 percent of the iPads being traded in are iPad3 models, which makes you wonder: are people trading in for the fourth generation full-size iPad, or the new iPad mini?

Apple’s October Surprise

Apple event logo
We expected Apple to announce an iPad mini today, and we got it. What we didn’t expect was the sheer number of new products the company unveiled. Here’s a rundown of the news.

That question arises because, although there were some rumors about a new version of the third-generation iPad, it was by no means certain that Apple was actually going to release it … which Scarsella acknowledged:

“The volume of iPads have been tremendous today, especially the third generation model. Normally the upgrade cycle for the iPad is over 1 year. Today we witnessed a very staggering announcement of an all new iPad 4th Generation. We did not anticipate that Apple would release a 4th generation tablet alongside an iPad Mini heading into today.”

Yesterday, prices ranged from $140 for a first-generation iPad with 16GB of memory and WiFi, to $584 for a third-generation with 64GB and 3G.

Today? Those prices are, no doubt, heading south.

Image credit: John Koetsier