Considering a new 5s is $549 for 16 GB and $599 for 32 GB, $200-300 less (with no tax) isn't unreasonable for a 5 with 64GB.
My point was that Apple was quoting me $205. I thought at most I would get for my iPhone 5 (which has no scratches or dents, I babied the thing) was $250 off of ebay. But between the headaches, the seller's fee, the shipping and handling, I would be glad to sell it at the Apple Store for $205, especially since it was going towards a new iPhone anyway.
Now, there was a previous poster who gave great advice. Don't sell your iPhone for less than you think. If you think it's worth $350, you should try and get $350.