Selling your iPhone 5? Here's how much you can get

• 9 Comments
  /
• 71 Shares/
• 42 Tweets/
• Stumble/
• Email
• More +

Updated to include eBay

Apple unveiled two new iPhones on Tuesday -- its flagship model, the iPhone 5S, and a new low-cost model called the iPhone 5C. The tech giant is discontinuing the iPhone 5, so where does that leave you?

34 PHOTOS

Apple announces iPhone 5C/5S

Why sell

If your wireless contract is eligible for an upgrade, it's will cost about $199 to buy an iPhone 5S with a renewed two-year agreement. If you play your cards right, you could get a couple hundred dollars for an iPhone 4S -- depending on its condition and where you sell it. Apple, Amazon, Walmart, Best Buy, GameStop and Gazelle offer trade-in programs for either gift cards or cash.

Why wait

If you're already in a two-year contract, you'll have to pay full price for a new phone. But if you must have that new iPhone, selling the phone can help cut costs. The iPhone 5 can be sold for more than $300.

Whatever you decide, it might be worthwhile to shop around the find the best price for your old phone. Here's a sample of how much you can get for an iPhone 4S or iPhone 5 from a trade-in program. Keep in mind that some retailers only offer gift cards, while others also pay in cash. These prices are calculated by maximum value possible for each device.

Apple recycling program

iPhone 5 (16 GB) AT&T -$325
iPhone 5 (16 GB) Verizon - $285
iPhone 5 (16 GB) Sprint - $285

iPhone 4S (16GB) AT&T - $215
iPhone 4S (16GB) Verizon - $175
iPhone 4S (16GB) Sprint - $175

Amazon - Trade-in program

iPhone 5 (16 GB) Various - $291.50

Amazon - Direct sale

iPhone 5 (16 GB) Unlocked/Various carriers - $350 and up
iPhone 4S (16GB) - Unlocked $287 and up

Walmart

iPhone 5 (16 GB) AT&T - $315
iPhone 5 (16 GB) T-mobile - $315
iPhone 5 (16 GB) Verizon - $300
iPhone 5 (16 GB) Sprint - $250

iPhone 4S (16 GB) AT&T
iPhone 4S (16 GB) T-mobile - $205
iPhone 4S (16 GB) Verizon - $162
iPhone 4S (16 GB) Sprint - $160

Best Buy

iPhone 5 (16 GB) AT&T - $346.50
iPhone 5 (16 GB) T-Mobile - $315
iPhone 5 (16 GB) Verizon - $315
iPhone 5 (16 GB) Sprint - $ 315

iPhone 4S (16 GB) Unlocked - $315
iPhone 4S (16 GB) AT&T - $231
iPhone 4S (16 GB) Verizon - $ 178.50
iPhone 4S (16 GB) Sprint - $ 178.50

GameStop - Trade-in value

iPhone 5 (16 GB) AT&T - $405
iPhone 5 (16 GB) T-Mobile - $390
iPhone 5 (16 GB) Verizon - $390
iPhone 5 (16 GB) Sprint - $252

iPhone 4S (16GB) AT&T - $264
iPhone 4S (16GB) Verizon - $217.75
iPhone 4S (16GB) Sprint - $199

Gazelle

iPhone 5 (16 GB) AT&T -$315
iPhone 5 (16 GB) T-Mobile - $330
iPhone 5 (16 GB) Verizon - $315
iPhone 5 (16 GB) Sprint - $200

iPhone 4S (16 GB) AT&T -$190
iPhone 4S (16 GB) T-Mobile - $200
iPhone 4S (16 GB) Verizon - $160
iPhone 4S (16 GB) Sprint - $150

eBay - Sample auction listing prices

iPhone 5 (16 GB) AT&T - $432.73
iPhone 5 (16 GB) Verizon - $425.94
iPhone 5 (16 GB) Sprint - $350.21

iPhone 4S (16 GB) AT&T - $325
iPhone 4S (16 GB) Verizon - $275
iPhone 4S (16 GB) Sprint - $275

© 2013 CBS Interactive Inc. All Rights Reserved.