In a remarkable auction sale, a 2007 Apple iPhone has fetched a staggering $190,372.80, a staggering 300 times its original sale price. The model in question was the 4GB variant, initially priced at $599, and it was still in its original factory wrapping, preserved in exceptional condition, according to the auction listing.
LCG Auctions, the auctioneer, hailed the device as a highly sought-after high-end collectible that is exceedingly rare.
The auction received a total of 28 bids, commencing with an initial bid of $10,000. This successful sale follows LCG Auctions’ previous achievement of selling another first-generation iPhone for $63,356 in February.
In March, another auction firm, Wright Auctions, also sold a first-generation iPhone for $40,320. LCG Auctions described this particular iPhone as a “holy grail” among iPhone collectors due to its extreme scarcity.
Finding a first-generation iPhone in such pristine condition, free from any damage to the display or broken buttons, is a rarity.
Notably, the consignor of this device was part of the original engineering team at Apple during the iPhone’s initial launch, adding an additional layer of significance to the sale.
This year marks the 16th anniversary since the introduction of the iPhone by Apple’s then-chief executive, Steve Jobs, at Macworld in San Francisco, California, on January 9, 2007.
Jobs proclaimed that Apple would revolutionize the phone industry with this groundbreaking device, a statement that proved prophetic.
The iPhone swiftly became Apple’s most successful product, earning the distinction of Time magazine’s Invention of the Year in 2007.
The 4GB model, however, was discontinued shortly after its launch due to lower sales figures and the subsequent release of an 8GB model.