If you’re planning on buying a new iPad Pro and hope to sell it at some point in the future when you want to upgrade, don’t expect to net much at resale.
A new study from tech buyback site Decluttr has found that iPad depreciation is significant. And in just a year on store shelves, Apple’s iPads can lose as much as 60% of their original price.
According to Decluttr, if you purchased a 12.9-inch iPad Pro with Wi-Fi and cellular connectivity and a 512GB storage drive last year, it’s now worth $420—a far cry from the $1,100 you paid for it when new. And even though you plunked down $900 for the 256GB version of that iPad version, it’s now only worth $400.
The study sheds light on the rapid value loss Apple’s iPads suffer from just as Apple has updated its tablet line with new iPad Pros. The company on Tuesday held a press event in Brooklyn, where it showcased new versions of its 10.5- and 12.9-inch iPad Pros. In addition to faster processors and improved designs, the tablets also ship with higher price tags. The 10.5-inch versions starts at $799 and the 12.9-inch model starts at $999. They’ll launch on Nov. 7.
As time goes on, things don’t get better for iPad resale values, according to Decluttr. The company said that the original iPad that launched eight years ago is only worth $3 today.