Typical APPLE under estimating their product. Same excuse every year. While they keep demand up, our 1 our 2 year phone are not worth as much as they were 2 years ago. When I upgrade my iPhone 4 to a iPhone 5 2 years ago, I got $220 for a 2 year old 16GB model. Now, I will be lucky to get the same thing for a 2 year old iPhone 5 with 64GB in it, even though I paid $200 more for the phone.
Not true.
Sell it on ebay right now and you would get 325+ for that phone right now.
I was able to sell 2 16g iPhone 5's for over 270 each last week.
Don't take these deals that are being offered by the carriers they are ripping people off.