Magento: Sort By Custom options

<select onchange="setLocation(this.value)">
	   <option  value="<?php echo $this->getOrderUrl('position', 'asc') ?>" <?php if($this->isOrderCurrent('position')): ?> selected="selected"<?php endif; ?>>
                 SORT BY
            <option value="<?php echo $this->getOrderUrl('bestseller', 'asc') ?>"<?php if($this->isOrderCurrent('bestseller')): ?> selected="selected"<?php endif; ?>>
                 BEST SELLERS
            </option>
            <option value="<?php echo $this->getOrderUrl('price', 'asc') ?>"<?php if($this->isOrderCurrent('price') && $this->getCurrentDirection() == 'asc'): ?> selected="selected"<?php endif; ?>>
                 PRICE LOW
            </option>
            <option value="<?php echo $this->getOrderUrl('price', 'desc') ?>"<?php if($this->isOrderCurrent('price') && $this->getCurrentDirection() == 'desc'): ?> selected="selected"<?php endif; ?>>
                 PRICE HIGH
            </option>
        </select>