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I think I found where the trade in iPhones went...

If they sell, it is good business for Apple. They have basically created the Certified Pre-owned lot of the cell phone world.
 
I'm responsible for several articles being changed, they were all saying "it's the first time Apple's sold refurb iPhones". I linked them to several stories and posts about Apple selling refurbed iPhones in the late 90's. I bought 3 original iPhones from them refurbished.

It was cool, they went back and changed/updated the articles.

http://www.theverge.com/2016/11/8/13567010/apple-refurbished-iphone-online-store-sale

I don't know about iPhone in the late 90's, but I also purchased several of the original back in November 2007. Still have the white boxes sitting in my room.

They continued to sell them a year later for $149.
 
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