I sold my 32gb black iPhone 4 two weeks ago for $235 on eBay. It was in mint condition. I think you can easily get $150 for the 16gb model if it is in very good condition. I really was amazed how well my phone held up over two years. Granted, I did keep a case on most of the time, but it still looked like the day I got it. I hope my IP5 keep is luster like the iPhone 4. I must say, the build quality is amazing. It truly feels like a work of art. It's a shame I have to keep a case on it.
I would suggest to do what I did. $150 starting bid and $250 Buy It Now. Mine sold for $222 with the Auction. It was a 16GB iPhone 4 in excellent used condition, still had a case on it too. Also free shipping. Buyers on eBay love that.
Price depends the condition of phone if Excellent condition for about $361.56. Good condition for about $350.00. Poor condition for about $325.00. Non Functional condition for about $214.00.
Its all Depending on the exact condition and if there are any add-ons, the price may vary within the fair market range.
I would recommend you and all to briefly study movaluate because as per i guess in near future movaluate would become price setter because it guides to buyer and seller so no body can deceive them.
It depends on what's included in the package. Is it still under warranty? Will it come with accessories such as jelly cases, Does it have protectors? Is it complete with the box, earphones and charger?