Some people pay big bucks for a brand-new phone these days, but this 2007 first-edition iPhone has just sold for an unbelievable amount; here’s all you need to know.
If you considered scrapping your old Apple phone for an upgrade, you might think again now that a 2007 iPhone has been sold at an auction in the USA for an unthinkable price.
Selling for over €169,000, 400 times its original price, this high-end collector’s item was in great demand and sold for much more than first anticipated.
Here’s the story.
2007 Apple iPhone sells for over €169,000 – a first edition collector’s item
In a remarkable auction event in the USA recently, a first-generation iPhone from 2007 achieved an astonishing price of over €169,000 ($190,372.80).
The unopened 4GB model was set to sell for a final price of between €44,500 – €89,000 ($50,000 – $100,000), but when the bidders came together to compete to be the next owner, the final price exceeded all expectations.
LGC Auctions hosted the event and initially started the bidding at €8,900 ($10,000), anticipating a much more modest selling price. However, the demand for this limited-edition collector’s item surpassed expectations, attracting both seasoned investors and passionate collectors.
The first ever iPhone – a Steve Jobs creation
In 2007, Steve Jobs, the man behind Apple, revolutionised the telecommunications industry, releasing the first ‘smartphone’, which become known as the Apple iPhone. The phone, hailed as ‘magic’ and ‘super smart’, has continued its legacy to this day, with over 1.5 billion iPhone users in 2023.
The phone, aimed at reshaping how we communicate with each other, has become an integral part of the ever-evolving world of technology. While the phone’s initial release proved exciting, the first device faced market challenges, leading to its discontinuation.
The iPhone that sparked a bidding war was still in its original box, had not been activated, and featured a 2MP camera and a web browser.
To add to its value, the smartphone had another feature which allured bidders.
“The phone’s provenance is pristine as the consignor was part of the original engineering team at Apple when the iPhone first launched,” LGC Auctions wrote in its listing, adding, “Collectors and investors would be hard pressed to find a superior example”.
It doesn’t stop there – Apple enthusiasts are always on the lookout
While this may sound like a crazy amount of money, Apple enthusiasts have a history of seeking out and investing in original products from the company’s past. In August, a buyer purchased a first-generation iPhone for €31,508 ($35,414).
In addition, an Apple-1 computer prototype from the 1970s sold at an auction for more than €603,095 ($677,000), while original founding documents sold for a whopping €1.42 million ($1.59 million) in 2011.
This shows that the allure of Apple products continues to grow, and so does the legacy of the world-famous brand. So, if you ever feel like discarding your old Apple products, think twice – you could sell them to afford a pint in Dublin!
