Looking to trade in your iPhone 4s or iPhone 4 to get the iPhone 5, you might be  in luck as trade in and buy backs sites are offering up to $400 for the smartphone.

Yungjohnnybravo x TatWZA

This can be a great way to recoup the cost of a new phone — especially if you aren’t eligible for an upgrade or are switching to another carrier.

The iPhone 5 announcement means that tons of older iPhone devices are about to hit the secondary market. As we’ve seen in the past, that flood of devices can lower the buyback amount companies are willing to pay for your device. If you’re interested in selling your device to a buyback service, lock in now, rather than later.

The 64GB iPhone 4S is the most expensive model, and that’s what we used to base our pricing on in this test.

The best offer we saw for the 64GB iPhone 4S is courtesy of eBay’s Instant Sale.

Instant Sale will pay $400 for a working, fully functional 64GB iPhone 4S. The device needs to be fully functional, have no physical damage and include the charger.

The popular trade-in service Gazelle will pay $350 for a 64GB iPhone 4S on AT&T. Earlier today, Gazelle was offering $400 for the same unit, which means that trade-in volume is already impacting buyback offers.

Like Gazelle, NextWorth is offering $350 for a 64GB iPhone 4Sat&t/). The device needs to be working and cannot have a cracked display.

Amazon’s Trade-In program will pay up to $391 on an Amazon gift card for a 64GB iPhone 4S. Amazon will actually pay $460 on a gift card for a “like new” iPhone 4S, but Amazon’s requirements for what constitutes “like new” is stricter than most other companies. It needs the original packaging and should be presentable as a gift.

[Mashable]