With speculations galore that Apple will announce its next-generation iPhone - widely referred to as iPhone 5 in reports - at a press event today, September 12, many users of the old iPhone have apparently shown the foresight to sell their old handsets, which will become somewhat out-of-date after the forthcoming release of the newest iPhone.

That several iPhone users are trying to dispose off their old handsets, in the wake of the much-expected and eagerly-awaited iPhone 5 announcement, is evident from the figures shared by Gazelle - a site that purchases old, used devices - which show that as many as 1.2 million iPhone offers have been received over the last one month or so.

As such, with Gazelle allowing people to get a quote for their current iPhone and then decide whether to sell it or not, price quotes for 1.2 million old iPhones have thus far been provided by the Boston-based company, which provides a shipping label and box, and resells the handset on eBay, Overstock, or to other resellers, after wiping the data on the handset.

Noting that it is the perfect time to be in the iPhone-buying business right now because iPhone 5 marks "the biggest anticipated launch in a long time," Anthony Scarsella - Chief Gadget Officer at Gazelle - said during an interview with ABC News that people are aware that iPhone 5 "is coming;" and the anticipation has resulted in "a very busy time" for Gazelle.