RVT Wireless via eBay offers the refurbished Unlocked Apple iPhone 5 16GB GSM Smartphone in Black, model no. MD293LL/A, for $112.95 with free shipping. That's $47 under our May mention of an open-box item and the lowest total price we've seen for an unlocked GSM iPhone 5. (It's the best deal for a refurb today by $17, excluding other eBay vendors.)
Note: No warranty information is provided. Note that the item may show signs of use, like scuffs, scratches, or minor dents. It comes with a non-OEM charger.