Found an iPhone - Can I sell it? - 2

So, I was at a carnival roughly three months ago and I found a 16gb iPhone 5 in the grass around no one.So, as a good person I turned it into carnival staff and they said they would try and find the owner. After three months the carnival gave it back to me because they never found the is owner. Anyways, I already have an iPhone 5 so I'd like to sell it. It appears to have no service and its locked. I think it has no service because on the lock screen it just keeps saying "searching".

Little question here - if I kept it (its in better condition then my current iPhone) could I simply just insert my sim from my old phone and its good to use?

Btw, I would take it to AT&T but they so not have a store within a 2 hour and 30 minute drive from my area and I don't have the time these days to go.

Also, so I guess I can't restore it and sell it because it has a lock on it (you can't restore with a lock I think). I read about this thing called a dpu restore and basically that would do the trick. Is that true?

And if I were to sell it, how much do you think I could get? (Specs below)

iPhone 5, black, 16gb, few scratches/minor dents on two-three corners.

Would there be any issues selling it

The owner was probably unable to track the iPhone and shut off the service. If it was 3 months ago, they probably already got a new phone.

Try plugging the iPhone into a computer. Does it say you can restore it? You might be able to to.
You can reset the iPhone. Look that up or contact Apple. They'll tell you how. You can still erase everything and restart the whole thing as if it were new.

It might be possible to switch everything over to the iPhone you found. It depends on your contract. Do you have everything backed up on a computer? That's the best way to get everything over to the new phone. You'd have to email or call AT&T. It would probably just be easier to keep the phone you have now though.

There probably wouldn't be much trouble selling it. You can trade it into an electronics store. IPhone 5s are still worth a lot since they are still the newest. Don't let anybody rip you off. You would probably get the most by selling it online, like ebay or amazon. I wouldn't settle for much less than $200-$220 bucks.

Just contact AT&T for more info.

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