A rare, first-generation 4GB iPhone that had remained sealed and unopened for over a decade has recently sold at an only auction for a staggering price of over $190,000. With a starting bid of $10,000 and 28 bids over a span of two weeks, the seller of this rare iPhone netted a profit of over $180,000 when the auction closed.
Originally launched in 2007, the first generation of iPhones came in two variants of 4GB and 8GB, which is a paltry amount compared to the storage available in later models. The small amount of available space, the exclusivity deal with AT&T in the US, and the initial cost of $499 for the 4GB model put off some users at the time. Despite its flaws, the iPhone was considered a runaway success and managed to put Apple on the map in the fledgling smartphone industry at the time. Though later generations of iPhones featured technology from other companies such as Sony, the first iPhones remained a target for collectors.
Though $190,372.80 is a staggering amount of money, that is exactly how much a collector paid for a sealed, shrink-wrapped 4GB iPhone at an auction hosted by LCG Auctions that ran from June 30 to July 16. According to Gizmodo, the final bid for this particular iPhone was $158,644, which is over three times the amount that an 8GB first-generation iPhone sold for back in February. However, the story behind this iPhone may justify its final price. According to the auction listing, the seller was on Apple's engineering team in 2007 when the iPhone launched. The listing did not state how the seller came into possession of this 4GB model, which may have added some intrigue during the bidding period.
The Louisiana-based LCG Auctions previously had a 4GB first-generation iPhone up for auction late last year. By comparison, that auction closed at $39,339.60, roughly a fifth of the amount that the more recent auction gathered. Between the limited features of the first iPhones compared to later products, and the initial price of just $499 in 2007, paying six figures for outdated tech in 2023 may seem absurd to most users.
Though the iPhone 14 runs circles around the original iPhone from a technical standpoint, the fact remains that factory-sealed iPhones remain a hot commodity among collectors. It remains to be seen if any future auctions will top the $190k price point.
Source: LCG Auctions (via Gizmodo)