you do realize you will need double/triple that if you want a working iphone right?
Correct. Unless they wanted a 3GS with a crack on the case.
I sold my last iphone 5 for $600 on ebay not long ago. It was brand new, sealed, locked to AT&T. I can get another in black or white, and would indeed sell it for less through here then ebay, but still would want minimum $500.