Is $150 a good price to pay for a used iphone 3g/gs?

My sisters friend just recently bought a new iPhone 5, and said she'd sell me her iPhone 3g/gs because I'm the only without an iPhone in my family. I have an android. But I feel like the price is too low, so there must be something wrong with it, but she says it's in perfect condition.
Should I buy it from her or save up and buy my own?
Because the phone I have now I dropped into water. So it's not working the best

Is it an iPhone 3G or iPhone 3GS? - They're both worth different amounts.

For the iPhone 3GS, it's probably worth it, if you know the limitations of using such an outdated phone.
Definitely not for the iPhone 3G, anyone sensible wouldn't pay that, maybe $100 at the most.

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