On Sunday, an unopened first-generation iPhone from 2007 with four gigabytes of storage was sold at auction for $190,373, setting a new record.
The device, originally priced at $499 in the late 2000s, sold for over 381 times its original cost.
The Apple engineer’s first-generation iPhone was estimated to fetch $50K to $100K but eventually sold for nearly $200,000 after attracting 28 bids. Its scarcity and limited production made it a sought-after item among collectors.
LCG achieved a milestone last October by selling a factory-sealed original eight-gigabyte iPhone for $39,339. They surpassed that record in February by selling another unit for $63,356. With the latest auction, the record has tripled, setting a new standard.
On Monday, LCG Auctions founder, Mark Montero, issued a statement addressing the remarkable result of the auction.
“Despite the extensive worldwide media exposure our previous sales received and the hundreds of contacts we’ve had with consumers who thought they had a factory-sealed original iPhone, this is the only 4GB factory-sealed version to surface,” he stated. “Based upon our recent record-setting sales and the fact that the 4GB model is probably 20 times rarer than the 8GB version, we are not surprised it established a new record price, but surpassing the $190,000 mark was quite surprising.”
According to the details of the sale, “virtually flawless along the surface and edges, [and] the factory seal is clean with correct seam details and tightness.”
