With the iPad 2 announced yesterday with a starting price of $499, it was expected that a price reduction for the first iPad would take place. This has just happened, as the first Apple slate now costs $399, a $100 reduction from the original price.

We could have seen this coming, since Apple will probably try to get rid of the remaining iPad units, to clear the way for the iPad 2. This takes the refurbished iPad price down to $349, which will certainly appeal to a lot of people out there who were holding back from buying an Apple tablet. Even cheaper iPads should reach eBay soon, if we were to speculate.

We remind you that the iPad 2 is supposed to reach the stores on March 11th, so you can hold on to your cash till then.