First-gen iPhone sells at auction for $190K — almost 380 times its original price
First-Generation iPhone Sells for Over $190,000 at Auction
A first-generation iPhone made waves in the tech world as it sold for a staggering $190,373 at auction on Sunday. The selling price is nearly 380 times its original price of $499 when it was first released in 2007.
The auction was held by LCG Auctions, the reputable auction house known for organizing high-profile sales, and saw intense bidding for the rare 4GB iPhone model. LCG Auctions revealed that this particular model is 20 times rarer than the 8GB model that was released simultaneously and sold for $599. The scarcity of the 4GB model is mainly attributed to the fact that it was discontinued just two months after its launch due to customer preferences favoring the larger memory size.
Mark Montero, the founder of LCG Auctions, expressed his excitement over the record-breaking sale, stating, “A new bar was set Sunday night. We are thrilled to be a part of this fantastic record-breaking sale.”
Images of Apple CEO Steve Jobs holding the iPhone at its unveiling in 2007 were shared alongside the article. The pictures highlight the historical significance of this groundbreaking device, which paved the way for the smartphone revolution we now witness.
This isn’t the first time that a first-generation iPhone has fetched an astronomical price at auction. In fact, it is the third time in the past year that an original iPhone has sold for a record-breaking amount. In February, an 8GB model reached a sale price of $63,356, and in October 2022, another 8GB model was sold for $39,340. All three iPhones were still sealed in their original packaging, adding to their desirability among collectors and tech enthusiasts.
The iPhone’s impact on the world of technology cannot be overstated. It has undoubtedly secured its place as one of the most successful electronic products ever released. The device’s success notably propelled Apple to become the first publicly held company with a staggering $3 trillion market value. This significant milestone was achieved 16 years after the initial launch of the iPhone, marking a remarkable journey for the Cupertino-based tech giant.
FAQs
Q: How much did the first-generation iPhone sell for at auction?
A: The first-generation iPhone sold for $190,373 at auction.
Q: What was the original price of the first-generation iPhone?
A: The first-generation iPhone was originally sold at a price of $499.
Q: Why is the 4GB model rarer than the 8GB model?
A: The 4GB model of the first-generation iPhone is 20 times rarer than the 8GB model because it was discontinued after just two months due to customer preference for the larger memory size.
Q: How many times has a first-generation iPhone sold at auction for a record-breaking price?
A: This is the third time in the past year that a first-generation iPhone has sold at auction for a record-breaking amount.
Q: What is the significance of the iPhone in the world of technology?
A: The iPhone is one of the most successful electronic products ever released and played a pivotal role in making Apple the first publicly held company with a $3 trillion market value.
Q: How long has it been since the first iPhones were sold?
A: The first iPhones were sold 16 years ago.
First-generation iPhone fetches $190K at auction, nearly 380 times its original price
In a remarkable auction sale, a first-generation iPhone was sold for an astonishing $190,373, nearly 380 times the original price of $499 when it was initially released in 2007. The auction was hosted by LCG Auctions, who revealed that the 4GB version of the iPhone was twenty times rarer than the 8GB model, which was launched at the same time for $599. The scarcity of the 4GB model can be attributed to the fact that it was discontinued just two months after its release due to customer preference for the larger memory size.
Mark Montero, the founder of LCG Auctions, expressed his excitement about the record-breaking sale, stating, “A new bar was set Sunday night. We are thrilled to be a part of this fantastic record-breaking sale.”
Tags:190K380foldAppleauctionauctionsbusinessfetchesFirstgenerationincreaseIPhonelifestyleoriginalpriceTech