I traded my Note 3 for a iPhone 5...

as far as retail value you got a killer deal. as others posted if you wanted an iphone then that alone was worth it and the cash was an extra bonus.
 
I have both iPhone 5 and Galaxy note 3. I've had both for a month (had the iPhone 5, 64gb for about a year).

I can't say which is better. I think that iPhone 5 is better quality, and iOS feels smoother somehow. But I love the big screen and of course the 4K video capabilities.