E-Paper
Rare first-generation iPhone sells for over ₹1.5 crore at auction
A first-generation iPhone sold for $190,373 in an auction, nearly 380 times its original price. The 4GB model is highly sought after by collectors.
A first-generation iPhone fetched a staggering $190,373 (around ₹1.5 crore) representing an increase of nearly 380 times its original sale price of $499 back in 2007.
The "2023 Summer Premier Auction" held by LCG Auctions in the United States witnessed a spirited bidding process that commenced at $10,000 and concluded by attracting a total of 28 bids on Sunday with the winner, whose identity was not disclosed by the auction firm.
Why is the iPhone so rare?
“The original 4GB model is considered a “Holy Grail” amongst iPhone collectors,” said the auction house.
Debuting alongside the 8GB model, the 4GB model was hampered by slow sales as buyers chose to pay the $100 upcharge in exchange for double the storage space, said LCG Auctions. As a result of the lacklustre sales performance, Apple decided to discontinue the 4GB model on September 5, 2007, a mere two months after its initial release.
A factory-sealed version with labels intact
The original iPhone included 4/8 GB of storage, an innovative touchscreen, a 2-megapixel camera, and a web browser. The iconic box featured a life-size image of the iPhone with 12 icons on the screen.
The piece that was placed on auction was the 4GB variant. The iPhone was brand new and had never been activated. The factory seal was clean and accurately displayed seam details and tightness. Labels on the reverse were in excellent condition beneath the seal. Additionally, it was part of the original engineering team at Apple during the iPhone's first launch, the auction house claimed.
The iPhone stands as one of the world's most popular electronic devices. With this auction, Apple's device has now become the third original iPhone to be sold at auction for exceptional prices in the last nine months. In February, an 8GB model was purchased for $63,356, followed by another 8GB model fetching $39,340 in October 2022. Notably, all of these iPhones were still sealed in their original packaging when sold.
