I had the same issue for my iPad Pro 2nd Generation machine. I was quoted a value of $330 as it was in flawless condition. I received a Trade In update about a week later stating:
"Our trade-in partner has inspected your device and has confirmed your trade-in value. Your trade-in will be completed soon, and there’s nothing more that you need to do. Estimated trade-in value: $330.00".
A week after that missive, I received another email regarding my Trade In that stated:
"Apple Trade In
Please review your new trade-in value.
The condition of your device has been verified, and your trade-in value has been revised.
You have 14 days to accept the new trade-in value. If we don’t hear from you within 14 days, the trade-in will be canceled, and we will return your device.
Your device:
iPad Pro 11-inch (2nd Generation)
Serial/IMEI: DMPCG0UXXXXX
Estimated Trade-in Refund:
$330.00
Revised Trade-in Refund:
$0.00
Reason:
More than 13 imperfections on the enclosure/back glass OR dents larger than 5mm in length"
This is absolute BS, as the machine left my house in perfect condition. 2 hours on the phone with Apple Support yielded very little progress. I cannot locate the phone number/email address/physical location for the Apple Trade In Legal Department. Does anyone have this information?