The Apple iPhone 5 wishlist is growing, so much so that thanks to all the iPhone 5 rumours many customers are trading in their old iPhones before the new smartphone goes on sale, basically in a nutshell these rumours prompts major iPhone trade-ins.

It is not written in stone yet when the new iPhone 5 will be released, at the moment there are a lot of speculations flying around. Yesterday I reported via sources that Tim Cook would be kicking off the Apple event with the hope of announcing the iPhone 5 on October 4, yet today Phones Review colleague James reports via other sources that the event may not happen on October 4th.

Brian Blair, an analyst at Wedge Partners said “Why would Apple bump up only the processor specs of the iPhone 4 in addition to a newly designed iPhone 5 if the goal is to sell it into the pre-paid market at a lower cost? A 4S would simply cost more and a 4S itself wouldn’t create a mid-tier market unless it was priced at $99 and the iPhone 4 went to $49 with the new iPhone at $199. We see this scenario as unlikely.”

Well whatever happens all the rumours seems to be making iPhone customers trade-in, they want to be on the ready for the release.

Trade-in site Gazelle.com they report that this year is the highest that they have ever seen for customers selling their iPhones compared to last year.

According to GigaOM, Gazelle is on for buying back 2,500 iPhones this week alone, that is a massive number. When the Pre iPhone 4 announcement was made back in 2010 the trade-in site was getting back 100 phones per day, so this year has seen a huge climb in trade-ins.

We here at Phones Review would love to know if you are planning on selling your old iPhone in favour of the new upcoming Apple iPhone 5. In fact are you planning on selling any mobile phone in favour of the iPhone 5?

A lot has happened over the last few weeks when it comes to the iPhone 5, many cases, specs, features, release dates etc have been put up online, these are of course all rumours and hear say until Apple makes it official announcement, Samsung is trying to get the iPhone 5 banned in Korea and Europe. We will keep you notified of any iPhone 5 news, why not join us / me on Facebook, Twitter or Google+