It is a figure that may potentially make late innovator and Apple founder Steve Jobs turn in his grave. An Apple iPhone from the year 2007 fetched an astonishing $190,372.80 (₹1.56 Crore) at an auction, a whopping 300 times its original sale price.
The model, released in 2007, was put out on the market at a price of $599.
The auction was conducted by the US-based LCG auctions. The company described the iPhone as a highly sought-after collectible and “an exceptionally rare item”.
The bid started at $10,000
According to the LCG auctions, the iPhone was still in its original factory packaging and remained in exceptional condition.
The bidding process attracted a total of 28 bids, beginning with an opening bid of $10,000.
This auction follows a previous sale by LCG Auctions in February, where another first-generation iPhone was sold for $63,356.
Additionally, in March, Wright Auctions sold a first-generation iPhone for $40,320.
Apple iPhone’s ‘holy grail’ reputation
LCG Auctions referred to the phone as a “holy grail” for iPhone enthusiasts due to its extreme scarcity.
Finding a first-generation iPhone in pristine condition, with no damage to its display or malfunctioning buttons, is a rare occurrence.
The iPhone, which comes in its original box, features 4GB of storage, a 2-megapixel camera, and a web browser.
The auction website also highlighted that the seller was a member of the original engineering team at Apple during the iPhone’s initial launch.
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This year marks the 16th anniversary of the introduction of the iPhone by Apple’s then-CEO, Steve Jobs, at Macworld in San Francisco, California, on January 9, 2007. During the presentation, Jobs famously declared, “Today, Apple is going to reinvent the phone.”
The iPhone quickly became Apple’s most successful product and remains so ever since.
Due to lagging sales figures and the introduction of an 8GB model, the 4GB model of the iPhone was discontinued shortly after its launch.
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