Broken Xbox 360 Red Ring of Death Alternatives?

Well my Xbox 360 has been Red Ring of Death for awhile now and I tried the towel trick but only worked for a few days and I could tell the fan was progressively slower and it just sounded like it was struggling. What are my options now? Could I sell this on Ebay and if I could, how much could I expect for it? I could always send it to Microsoft but they will charge me a $140 where I could just wait until boxing day and get one for probably $150. I'm kind of in limbo regarding this so I'm open to any suggestions. If I was to sell, I would probably buy an Elite. Thank you.