A new iPhone is coming and if you want to smartly get rid of your old iPhone before it gets even older, you would want
to sell it off for as much as you can get. If that's too much work, go for perhaps the easiest route: sell your old iPhone back to Apple. They're taking old iPhones with open arms.
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Source: http://feeds.gawker.com/~r/gizmodo/full/~3/nV06-wyZLn0/apple-will-buy-your-old-iphone-for-good-money-so-you-can-buy-a-new-iphone-5
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