Users Flogging Their iPhone 4 Handsets, Eager For iPhone 5 Upgrade

Weeks before the announcement of the iPhone 5, users were already looking to trade in their iPhones in order to purchase the new one. Gazelle, a consumer electronics reseller, has reported that in the last week about 4500 people tried to sell their iPhone on the website. The frenzy increased significantly in the last few days, with an iPhone being sold every 10 seconds, according to Gazelle's figures.

Anthony Scarsella, Gazelle's chief gadget officer, estimates that the rush now is ten times greater that it was last year, at the release of the iPhone 4. The company predicts it is going to trade over 20,000 iPhones in the weeks following Apple's event today. The buzz has increased since June, when Apple delayed the release of the highly anticipated iPhone 5.

[ed: You can read our extensive coverage of the iPhone 5 since the very beginning here. Follow Us Live From 18:00 UK time (10am local time) for the iPhone 5 event here.]

The deal that Gazelle offers to the customers is $170 for a 32GB iPhone 4 in good condition. Eager to ride this new wave, other resellers that help customers ditch their old cameras, laptops and phones are also launching trade-in programs for iPhones; and it is not only smaller companies such as Billerica, Ann Arbor, ReCellular but also giants eBay, RadioShack and GameStop.

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