It what doesn’t exactly qualify as shocking news, ComputerWorld reports trade-in values for the iPhone 4S have begun to drop since the iPhone 5 was introduced at a media event Wednesday in San Francisco.

NextWorth is currently offering $273 for a used iPhone 4S, a drop from the $300 quote just last week. Gazelle is offering $264 for the same handset, a drop of 5 percent from last week’s $277. Those who signed up for Gazelle’s price lock announced late last month should consider themselves lucky.

Apple’s Reuse and Recycle program is quoting the same $255 for the base iPhone 4S model, which is down from the recent $285 offer.

But the news isn’t as bad at every trade-in outlet. The Instant Sale program from eBay is still offering the same $300 for the 16GB iPhone 4S that it did last week.

And there seems to be an influx of consumers looking to trade-in their handsets after the iPhone 5 announcement. Gazelle said appraisal requests shot up 75 percent since Wednesday.

If you’d like to see all the other options for trading in your iPhone, take at look at our comprehensive guide from last week. The prices we quoted then may obviously have changed.

Have you traded-in your iPhone yet? What service did you use?

Source: ComputerWorld