Boston-based Gazelle, a leading online gadget recycler through which consumers to turn their old electronics in for cash, is making its initial foray into selling direct to consumer.

Yesterday afternoon the company set live www.gazelleipads.com, a property branded as the Gazelle iPad Store. Creating a marketplace to sell recycled gadgets directly back to consumers would open up an entirely new revenue stream for the company.

“We knew we wanted to pilot an e-commerce experience this year,” explained Kristina Kennedy, Gazelle’s Director of Brand and Communications. “The iPad presented a good opportunity given the volume we received when the iPad 2 was released and in that so many were in good condition.”

Normally Gazelle would do one of three things with a gently used gadget you turn into them:

  1. Resell it over retail channels and marketplaces like eBay and Amazon
  2. Resell it, along with loads of other similar devices, to wholesale partners who resell via their own networks across the globe
  3. Recycle it safely for the environment if it truly is at the end of its life

Gazelle has already amassed a community of potential buyers on Facebook (over 3,000 fans) and Twitter (over 6,300 followers), and keeps an active blog on all the latest related to newly released gadgets. Kennedy tells us that they are currently only marketing the Gazelle iPad Store to those familiar with trading their gadgets in with the company, opening up a dialogue with them to understand the type of purchases they would be willing to make from the company.

Gazelle is selling only those iPads received that are in superb cosmetic condition through this new storefront (when the iPad 2 was released, the company already had over 15,000 iPads turned into them). Each even comes complete with original box, wall charger, USB cable, and manual. 16GB, 32GB, 64GB; with or without 3G – the company has any of these first generation iPads in stock. Check out the prices below. Shipping rates start at $7.99, and you have the option to return the device if it’s not up to your expectations within 30 days.

The company currently accepts products in more than 20 categories from calculators to video games, so there is ample room to expand this direct to consumer service if it pilots well in the iPad niche. But Gazelle plans to expand slowly.

“Expanding this e-commerce offering into more product categories will be slow moving for us,” explained Kennedy. “For now, the goal is to give people who have traded their electronics in with us a unique opportunity to also buy direct from us and see what interest there is.”

If a first generation iPad is on your wishlist, make sure you visit the new Gazelle iPad Store to compare prices. But act quickly, as the company is only offering 1,000 for sale in this initial pilot.