Sometimes I just don’t understand Apple. They are going to turn around and sell this for 3x that much as refurbished.
I like the ease of the trade in program and use it when I can but this is just ridiculous.
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Apple likes their high margins. “As of the first quarter of 2024, Apple’s gross margin amounted to around 45.87 percent.“
Over the years I have sold a lot of my gear to cashforyoumac.com, which has given me as much as $750 more than Apple offered. And it’s just as easy as using Apple. They make an offer, if you accept it they mail you a prepaid shipping box, you ship it to them, get a check.
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Wife has a 3rd gen ipad pro 12" with cell, 64GB and they offered $300 as a trade in. I kept it as a spare for my work and bought her the M4 13" 256 GB with cell and magic keyboard. Lets just say she really loves it…
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I’m sure most of us would buy an M2 iPad 11" for more than that. Too bad there isn’t a craigslist for just MPU listeners. I would guess this subset of the population is more honest and takes better care of their products than the general population.
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It would be nice to have a place to sell Apple items on here but I’m sure the admins don’t want that headache when a transaction goes bad and they get blamed.
Maybe there is a service or app out there that would let someone create a private area to sell products. 
Maybe eBay has something?
I just checked that web site to see how they’d give me for my M1 12.9 pro. Less that Apple! Go figure
Even more strange is that I have the 256 GB 11" M2 iPad Pro and my Apple trade-in value is $470. Not sure why my trade-in value is $50 more than your 2TB when Apple charges such a premium on storage.
In the US, Best Buy is now doing trade ins. I just traded in a M1 Macbook Pro for $660 compared to the $500 Apple was offering (and the M3 Air I bought was on sale). The downside is they don’t recognize SKUs they didn’t sell so they probably wouldn’t care about the additional storage.
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Maybe I’ll have to double check and make sure I didn’t do something wrong.
Update: Just double checked and it’s $470, not $420. Still to low in my opinion.
Generally speaking, higher end (such as more memory) models of anything are worth little more. The reason is that people who are buying used devices are mainly interested in the cost, so are unlikely to pay more for options.
I was shocked when I considered trading in my first generation iPad (which was a fairly worthless product – it couldn’t even run more than one app at a time). Mine was a cellular model. Trade in value was $0. If it didn’t have cellular it would have been worth $50. I kept it as a conversation piece.
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I believe Apple offers trade-ins as a convenience to those who don’t want to go elsewhere even if it means getting a higher value. I think of it like a CVS (drug store) stocking hand tools. It’s convenient if you’re in a pinch and need it right now. But you will pay three times as much as if you went to Home Depot. If the offer is too low for you, search out another source.
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The forum might quickly be taken over by scams and disputes of sales gone wrong.
I don’t think they ask for amount of memory when taking trade-ins (though may get that info from the serial number). The prices of the refurbs, I believe, are higher based on storage, though. ¯_(ツ)_/¯
I always check Apple and several sites to see who offers the best price
I would agree with this.
I just traded in an old 9th gen iPad for a Google Pixel tablet just for the heck of it. It was free.
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How do you like the Pixel tablet?
And it will probably be a very poor quality screwdriver. 
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For the record, the house brand at a 24-hour Walmart is the way to go if you need a cheap tool at 11pm. They could mark them up after hours and it’d still be a life-saver.
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I like the interface and OS but the aspect ratio is killing me.
I’m probably just going to get a dock for it and use it at night at work for media consumption.