First-Generation iPhone Breaks Auction Records, Selling for $190,373
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A groundbreaking event occurred at an auction on Sunday as a first-generation iPhone fetched an astounding $190,373, nearly 380 times its original retail price of $499 when it was initially introduced in 2007.
LCG Auctions, the host of the sale, revealed that the 4GB iPhone model sold was exceptionally rare, approximately 20 times scarcer than the 8GB model that was concurrently released for $599.
This rarity is primarily attributed to the fact that the 4GB variant was discontinued merely two months after its launch due to customer preferences leaning toward the larger memory size.
Mark Montero, the founder of LCG Auctions, expressed his excitement, stating, “A new record was established on Sunday night. We are delighted to have played a role in this extraordinary and record-breaking sale.”
Interestingly, this is the third time in the past year that an original iPhone has fetched a record price at auction. In February, an 8GB model was sold for $63,356, followed by another 8GB model that garnered $39,340 in October 2022.
Notably, all the iPhones were factory sealed in their original packaging.
The iPhone has indisputably become one of the world’s most successful electronic devices, contributing significantly to Apple’s rise as the first publicly traded company to achieve a market value of $3 trillion.
It took the Cupertino-based company 16 years from the launch of the first iPhones to reach this monumental milestone.
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