You can usually find a better price for a non-upgrade version if you look around online or at the big box stores.
Photoshop Elements and Premiere Elements are standalone programs. Each comes with an Elements Organizer. And, when the same version of these programs is on the same computer, they share the same Elements Organizer catalog. All said to make the following point....
There is no upgrade version. Just Adobe with its "upgrade" vs "full" pricing related to whether or not you can show proof of purchase for an earlier version of the product. You get the same program whether you pay the "upgrade" price or the "full" price.
You can also purchase the program from an authorized reseller. In that case, the Adobe structured "upgrade" - "full" pricing is not applicable. The authorized reseller defines its own prices.
At this time of year with a new version expected to be released at the end of September 2014, you should watch for the best price for version 12 at Adobe or an authorized reseller. For 12, Adobe sold only the online download. If you are used to disc installation, the authorized reseller have been selling the boxed packaging for 12 with installation disc.
Any questions or need clarification, please do not hesitate to ask.
Thank you for your hints!