If you get your iPhone replaced, do you keep the old one?

I need to get my iPhone replaced, it's broken and is out of warranty, the man at the apple shop said I have to pay a fee of £150 to get a replacement. When they replace your iPhone, does apple keep your faulty one or can you keep it? I was just wondering because I could sell it for broken parts etc.

They keep it otherwise they end up loosing out. They keep it for parts them selves

Usually if it under warranty they give you a new one and you give them the broken one and they will try and fix it to be resold or if not use it for parts. Even a broken phone is worth a lot of money, so they won't let you keep it unless they have to.