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Where to sell your old iPhone to pay for the new iPhone

Sunday - 8/19/2012, 8:47am  ET

AP: ab2cde55-594c-4fa4-aa16-cddff5df2ca5
An Apple customer uses an Apple iPhone 4S at an Apple store in Palo Alto, Calif. Thursday, July 19, 2012. Apple says its growth slowed in the most recent quarter, disappointing investors who thought its progress was unstoppable. Apple sold 26 million iPhones in the quarter, at the low end of expectations. It sold 17 million iPads, beating forecasts. (AP Photo/Paul Sakuma)

WASHINGTON - Even though Apple won't admit it yet, the next iPhone is expected to be announced next month.

If you're looking to subsidize the cost of your new iPhone, you might want to consider selling the one in your pocket.

The tech blog Gizmodo says now is the time to sell your iPhone 4S -- even though you may have to wait a month or more to get your new iPhone. Once the new iPhone comes out, the resell price of the old iPhone will drop.

So, where should you sell your iPhone 4S?

Gizmodo says ebay is your best bet, with some selling for as much as $400.

Amazon offers between $120 and $415 in gift certificates. That $415 is only if your phone is in absolutley mint condition and you throw in the charger.

RadioShack will give you between $73 and $250 to trade in your old phone.

They also found phones selling for $200 and up on Craigslist.

Sites that advertising buying your old electronics for cash, like Gazelle, InstantSale, Buy My Tronics and NetWorth, offer between $90 and $365.

Just remember, these prices will likely drop once a new iPhone comes out.

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(Copyright 2012 by WTOP. All Rights Reserved.)

Tags: appleiphone 4sgizmodo