It looks like Sellout.Woot.com is helping someone clear out a lot of first generation iPads in a hurry. iPad 2 coming soon, anyone? Refurbished 32GB iPads are available today for $479.99.
Woot is a site that comes out with one deal each day that only lasts as long as supplies are in stock. This deal is typically tech related though pretty much anything can and has been put on the block. In the past few years, Woot has expanded to several subdomains including Sellout, Wine, Deals, Kids, and even Shirt stores.