On Sunday, an auction witnessed the sale of a pristine, untouched first-generation Apple iPhone from 2007, fetching a staggering $190,372. This remarkable amount sets a new record for the highest price ever paid for an iPhone at auction, surpassing its original retail value by over 300 times.
The iPhone in question belonged to the inaugural edition, still enclosed in its original factory packaging and had never been used or set up. It outshone the previous auction records set in October and February, which saw 8GB models sell for $39,339 and $63,356 respectively. Bidding for this extraordinary rarity began at $10,000, further emphasizing its exclusivity and desirability.
This particular model of iPhone is extremely difficult to find which brought on the insanely high price. As LCD Auctions explained, "The original 4GB model is considered a ‘Holy Grail’ amongst iPhone collectors. Its extreme scarcity is directly related to its limited production."
In June 2007, Apple cofounder Steve Jobs introduced the 4GB model of the iPhone, which was released for sale alongside the 8GB version. This particular model carried an initial retail price of $499.
???? BREAKING NEWS ????
A sealed 1st Release Apple iPhone (4GB) just sold at auction for $190,373.
This is a new all-time record for any iPhone by over $100k.
Bought on 6/29/07: $499
Sold on 7/16/23: $190,373Hold time: 16 years
Profit: +$189,874 (+38,050.90%)Over the same… pic.twitter.com/w5eYicvdk7
— The Collectibles Guru ???? (@ericwhiteback) July 16, 2023
During that period, the majority of iPhone purchasers chose to invest an additional $100 to double their phone's storage capacity, despite the 4GB version experiencing a price reduction by one-third. However, due to sluggish sales of the 4GB iPhone model, Apple ultimately decided to halt its production in early September 2007.
In 2007, Apple's iPhone earned the prestigious title of TIME Magazine's Invention of the Year. This recognition turned out to be prophetic, as the iPhone went on to revolutionize mobile phone technology, playing a pivotal role in establishing smartphones as an omnipresent aspect of 21st-century life.
Presently, the most recent version of the iPhone, referred to as the iPhone 14, is available for purchase with a starting price of $799.
Auction sites frequently feature scarce collectibles associated with Apple and Steve Jobs. For instance, a prototype edition of the Apple-1 Computer, crafted in the 1970s, was sold for a remarkable sum of over $677,000 in the previous year. Additionally, in 2011, the founding documents of Apple, bearing the signatures of Jobs, Steve Wozniak, and Ronald Wayne, fetched approximately $1.6 million at auction.
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