If you're looking to sell your iPhone in anticipation of the iPhone 5, Apple's Reuse and Recycling Program could give you up to $345 for your device.
The program will take your old iPhone and mail you back a gift card that can be used at an Apple retail or online store. How much credit you get is determined by the model and quality of your device.
If you have a 64-gigabyte iPhone 4S in top-notch condition along with its charger, you could receive a gift card worth $345. If the device has scratches, the credit falls to $295; if it's cracked or has other type of damage, the payback plummets to $50.
For a 32GB iPhone 4S, you'll get $330 if it's in perfect condition and $280 if it's lightly scratched. A 16GB iPhone 4S will get a return of $285 in great condition and $235 with light scratches.