iPhone 5 Release Date: Massive Surge in Selling of Old iPhone Models

There is no doubt that Apple fans will upgrade their old iPhones with the new iPhone 4S or iPhone 5 which will be unveiled today at the company’s headquarters in Cupertino, California.

Thousands of iPhone users are looking to sell their old iPhones to immediately get themselves the next generation device.

CNET reports that an iPhone is being turned into buyback service Gazelle every 15 minutes today. Gazelle’s representative Michael Schneider said the company already received 5,000 used iPhones last week.

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People have been rushing to sell their old iPhone handsets before the launch of the new device today so they can lock into the buyback price.

As soon as the new devices are revealed at today’s Apple unveiling event, prices are expected to fall.

Buyback services such as Gazelle allow people to sell their old gadgets to them without having to resell directly to another consumer; saving them time and giving them a guaranteed locked-in price.

Meanwhile CNET’s Josh Lowensohn is reporting live from the “Let’s Talk iPhone” event in California. He reported that Tim Cook said : "I love Apple. And I consider it the privilege of a lifetime to have worked here almost 14 years to work in this new role."

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