First-Generation iPhone Sold at Auction for Almost $190,000
In a record-breaking sale, a first-generation iPhone was sold at auction for $190,373, nearly 380 times its original price of $499 back in 2007. The auction was hosted by LCG Auctions, and the 4GB iPhone model was considered 20 times rarer than the 8GB model released at the same time. This is because the 4GB model was discontinued just two months after launch due to customer preference for the larger memory size. Mark Montero, the founder of LCG Auctions, expressed excitement over the sale, stating that a new bar was set.
This is the third original iPhone to sell for record prices at auction in the past year. In February, an 8GB model sold for $63,356, followed by another 8GB model that fetched $39,340 in October 2022. All three iPhones were sealed in their original packaging.
The iPhone is considered one of the most successful electronic products in the world and played a significant role in making Apple the first publicly held company to reach a $3 trillion market value. It took Apple 16 years after the first iPhones were sold to reach this milestone.