Prices of iPhone 4S,  Samsung Galaxy S III are lower online ahead of Apple’s event and the rumored launch of iPhone 5

As you may have heard already, Apple is expected to launch the next-generation iPhone on Wednesday. Apparently, many people who already own iPhones are preparing to get the new model. They are desperately trying to sell or trade their devices (most of them still quite new) so that they could buy Apple’s new smartphone.

iPhone 5 hysteria was further intensified when sources started to hint that the new device will have a completely different look and features. According to rumours, iPhone 5 will have a larger display and it will be much thinner compared to iPhone 4S, in a similar fashion to Samsung Galaxy S III.

Many iPhone 4 owners decided not to buy the 4S version that was launched last year, because the two models had similar functions. This delayed upgrade also increases the demand for the new iPhone 5.

Even though the release of the new iPhone is still not officially confirmed people try to get rid of their old devices. In comparison to previous releases, this time the iPhone mania is bigger than ever. People wanted to sell their old iPhones even before Apple’s event was confirmed.

The number of people who are trying to trade or sell their iPhones on the Internet increased by 610% for less than a month. That is not even close to the figures prior the release of iPhone 4S in 2011.

In addition, most iPhones that are offered by online retailers are the 2010 model 4 (about 50%). Only 20% of all iPhones that are sold right now are the 4S version. The remaining 30% are the older 3G and 3GS models. The low number of iPhone 4S that are traded can be explained with the fact that not many people chose to upgrade to it. Also, the rumours of a better and improved iPhone are clearly reaching users since the demand for the devices is very high.

Many buyback companies advise people to keep the prices at a steady level. That is because with Apple’s approaching event, prices of the old smartphones are expected to fall dramatically. Right now prices of old iPhones vary from about $315 (for top version AT&T iPhone 4S with 64GB) to $35 (for 2008 iPhone 3G with 8GB). The reason why AT&T phones are more expensive is because they follow tech standard that is similar for many countries.

Those who are more patient can sell their old iPhone on websites like Amazon. iPhone owners can also trade their devices to larger retail companies like Best Buy and Target. In addition, they can send their used iPhone back to Apple to receive a special gift card from the company that will be equal to the device’s estimated price.