Estimated iPod second hand values, based on:
Minimum = trade in value
Maximum = cost of fully guaranteed Apple refurb

Gen 1
5gb (firewire) $75 to $169
10gb (firewire/scroll) $90 to $169

Gen 2
10gb (firewire/touch) $90 to $169
20gb (firewire) $160 to $269

Gen 3
10gb (dock version) $109 to $229
15gb (dock) $130 to $279
20gb (dock) $175 to ? (presumably about $350?)
30gb (dock) $190 to $379
40gb (dock) $275 to ? (presumably about $450?)

This is a much more difficult question than it at first appears, with many equally correct answers.

The first and most fundamental answer has to be that a second hand iPod is worth whatever you (or anyone else) is willing to pay for it.

It?s a free market, and demand outstrips supply. Second hand iPods will inevitably go to the highest bidder, and if you want one, you?ll probably have to pay top dollar.

There obviously comes a point at which a second hand iPod is too close in price to a brand new Pod, and at or above that price any intelligent buyer would buy a new one instead.

But how much is a second hand iPod actually worth? What is a reasonable and fair price? What would a second hand iPod fetch if there were more of them about? What?s a reasonable and fair price to ask and achieve if you?re selling one, and don't simply want to screw your buyer for the most money you can possibly extract?

The ?fair price? is not related to what the seller paid for the iPod. Prices go down over time, and older, simpler, smaller capacity Gen 1 pods cost more when they were new than current iPods cost now. My old 5 GB iPod would not, therefore, still be worth anything like the ?349 (about $500!) I paid for it .....

It ought to be self evident that no second hand 10 GB iPod is ever worth more than what Apple currently charge for an equivalent new iPod.

It?s controversial (mainly among second hand sellers) but it?s probably true to say that no second hand iPod is worth more than its refurbished equivalent either. Just because refurbs are in short supply (and sometimes are unavailable at all) doesn?t mean that you?re not charging/paying too much if you set a price that?s higher, in terms of the intrinsic worth of what you are buying.

Many potential buyers are new to the world of iPods and may not be aware of what refurbs are.

Refurbished iPods may have been returned to Apple because of a defective component or because they were returned for a refund. They may include ex-demonstration machines, cancelled orders, or unsold stock of discontinued models. They are then repaired as necessary (using only genuine Apple components), reconfigured and restored to as new condition, and tested, and are fully checked. They are in 100% fully functional working condition, and carry the same guarantee and support as all new Apple products except in relation to the kind of minor cosmetic imperfections (scratches, marks, discolouration) caused in normal use. (They have, after all, often been unpacked and manipulated).

Refurbished iPods are offered at a price discount of up to 45%, and come with complete documentation and all normal included accessories (these are usually brand new). Many come with a new (unscratched) enclosure and many have their batteries and touchwheels replaced. Others are actually unsold machines, and these come in sealed, shrink-wrapped packaging. Others come in a plain brown box.

Refurbs are only available from the online Apple store, and must be bought using a credit card. In Europe they available on Wednesdays only, after 10.00 am. They are thought by many to represent the best possible deal, and to be worth more than a second hand iPod.

Why should this be?

A refurbished iPod is sold by Apple, so you have all the usual redress should anything go wrong, and you do not run the risk of buying a worn-out, faulty, damaged, stolen, mis-described or sub-standard iPod. You are not vulnerable to fraud. Apple will not rip you off or mess you about. You get a full one year guarantee. You know exactly what you are getting. By contrast, any second hand iPod, may in fact be a refurb (unless the seller can provide proof of purchase which proves that it isn?t) and if a second hand iPod is always worth less than a new one, it follows that a second hand iPod will also be worth less than a new refurb, too!

And what do refurbs cost, when they are available?

The last known refurb price for the Gen 1 5 GB iPod was $169 (?106.66) from the US Apple store, or ?125 ($207.92) from the UK store. Because the 5 GB iPod is unlikely to be available as a refurb again, and because it is (arguably) the most suitable iPod for runners, joggers, etc. it may actually have some extra value.

The last known refurb price for the Gen 2 10 GB iPod was $169 (?106.66) from the US Apple store, or ?160 ($266.08) from the UK store.

The last known refurb price for the Gen 2 20 GB iPod was $269 (?169.77) from the US Apple store, or ?279 ($463) from the UK store.

The last known refurb price for the Gen 3 10 GB iPod was $229 (?137.72) from the US Apple store.

The last known refurb price for the Gen 3 15 GB iPod was $279 (?167.81) from the US Apple store, or $200 from CompUSA, though only very briefly.

The last known refurb price for the Gen 3 30 GB iPod was $379 (?227.97) from the US Apple store, or $250 from CompUSA.

If refurb prices represent the 'upper limit' you should pay for a second hand iPod, then the lower limit is probably the trade in price offered by Small Dog.

Currently that stands at:

_*Current Trade-in Prices (as of week of Sept 8 03) :
5gb (firewire): $75
10gb (firewire) $90
10gb (dock version) $109
20gb (firewire) $160
15gb (dock) $130
20gb (dock) $175
30gb (dock) $190
40gb (dock) $275