I have an older version of adobe premiere and photoshop, that I am not using and is not installed, however it is registered by me. Can I sell these disc with the Serial Numbers, as long as its not installed on my PC?

You would also need to make sure it has been deactivated on your PC as well as uninstalled so that a purchaser would be able to succesfully complete the installation on their own computer. An unistall, per se, does not deactivate it - deactivation is a separate process done before removing the software from the PC. Other than that consideration, the licenses are supposed to be transferrabe.

One of the problems there is that the new buyer might be buying to get upgrades on what he buys from you if you have upgraded from that Serial number,. A lot of companies are not allowing that upgrade to occur. You should check with Adobe to find out.

Adobe's upgrade versions check during install to see if the qualifying previous version is on the target PC. If it doesn't find it, it asks for the previous version's serial number in addition to the new version's before proceeding with the install. But AFAIK it doesn't check to see if that copy of the older veresion has perviously been upgraded. From having recently upgraded both Lightroom and Photoshop I know the Adobe site doesn't ask for a qualifying serial as part of the purchasing process for the upgrade versions.

Steve's right, Adobe's upgrade versions may ask for a previous serial number, but they do not check if that serial has previously been upgraded.

I've successfully transferred Adobe software before. Here's the process: Transfer an Adobe product license (http://kb2.adobe.com/cps/152/tn_15281.html)