Image credit: ABC News.

If it is 3:01 a.m. ET or past that time, you can now pre-order the iPhone 5 from Apple, Verizon, AT&T, or Sprint's websites. No matter where you shop, the 16GB model will start at $199 with a two-year contract. Apple will offer an unlocked version of the phone - one that isn't tied to a carrier - for more money but it isn't expected to go on sale today.

While it will be late at night for many, lots of people are expected to get up in the wee hours of the morning, fork over their credit card numbers and order the phones. The iPhone will actually ship to those who order in one week, on Friday, Sept. 21st.

The new phone, which was announced earlier this week, has a number of new features, including a larger 4-inch display, LTE, a faster processor, improved camera and a new design. You can check out our guide to the top new features here.

Even before the phone was announced, iPhone owners began to sell their phones on sites like Gazelle and Glyde. According to those sites, iPhone sales have been at an all-time high over the last few weeks as people prepared to buy the new phone. Analysts predict that Apple could sell as many as six to 10 million iPhone 5s before the end of September.

Apple and the cellular carriers will begin selling the phone in stores on Sept. 21st at 8 a.m. ET. And in typical Apple product launch fashion, lines are expected.