I just sold my white 16GB iPhone 5 on eBay for $380 which was is pristine condition. Like the other said, you overpaid for the phone, but as long as you enjoy it, that's what matters.
You can probably expect to get around $300 depending on the condition of the phone when you sell it next year.
You can probably expect to get around $300 depending on the condition of the phone when you sell it next year.